Arabian Cement sees robust demand, persistent price pressure in Q4: CEO

30/10/2023 Argaam Special
Badr Johar, CEO, Arabian Cement Co.

Badr Johar, CEO, Arabian Cement Co.


Arabian Cement Co. expects a rise in the demand for the company’s product during the fourth quarter of 2024, compared to the previous quarter, CEO Badr Johar told Argaam.

He, however, anticipates continued pressure on prices due to the existing gap between supply and demand in the market, with demand falling 7% during the first nine months of 2023.
The CEO indicated that the profit decline in Q3 2023 was mainly due to the fall in average selling prices year-on-year despite sales volume increasing year-on-year (YoY) and quarter-on-quarter (QoQ).
 
Arabian Cement’s net profit fell 27% to SAR 106.9 million in 9M 2023, compared to SAR 145.9 million in the prior-year period. The Q3 fell 50% YoY to SAR 29.7 million.

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