Saudi cement sector expected to record revenue decline in 2Q18
10th july 2018
Saudi Arabia’s cement sector is expected to record a fall in revenue in the 2Q18, according to Al Rajhi Capital. The companies monitored by Al Rajhi are expected to announce a revenue decline of around six per cent YoY for the period, while earnings could decrease by approximately 10 per cent.
The sector’s sales volume fell 16.7 per cent in the first two months of the second quarter. Across the country, 15 companies have recorded a decline in sales volume, led by Riyadh Cement (-44.1 per cent) and Cement City (-37.5 per cent). However, both Tabuk Cement (+82.4 per cent) and Hail Cement (+28.7 per cent) recorded an increase, according to Trade Arabia.