Cement News tagged under: business results
Orient Cement posts INR682 4Q net profit03 May 2024, Published under Cement NewsCK Birla Group subsidiary Orient Cement Ltd reported a 1.4 per cent uptick in revenue from operations to INR8.88bn in January-March 2024 when compared with the equivalent quarter of the previous year, when revenue reached INR8.76bn. Total expenses rose marginally to INR7.855bn. The company's net profit edged up by 1.2 per cent YoY to INR681.9m in the 4QFY23-24 from INR673.7m in the year-ago period. For the financial year ended 31 March 2024, Orient Cement's profit increased 42.4 per c... |
Ambuja Cements announces record results02 May 2024, Published under Cement NewsAmbuja Cements , part of the Adani Group , has reported record-breaking financial results for the 4QFY23-24 as well as the full year, ended 31 March 2024. According to the company, the strong performance has been driven by improved KPIs in all operational parameters. The 4QFY23-24 saw consolidated sales volumes of cement and clinker of 16.6Mt, compared to 14.1Mt in the same period a year earlier. Consolidated revenue came in at INR88,940m (US$1.065bn), versus INR79,660m in the comparab... |
BUA Cement reports revenue growth in 1Q2402 May 2024, Published under Cement NewsNigeria-based BUA Cement has released its unaudited financial statements for the three months ended 31 March 2024. The company has posted revenue of NGN161,131m (US$114.4m) over the three-month period, compared to NGN106,352m in the same period a year earlier. Operating profit came in at NGN33,476m, down from NGN38,387m in the year-ago period, while profit after tax fell from NGN26,800m in the three months ended 31 March 2023 to NGN17,969m in the same period in 2024. Basic earnings per ... |
CEMEX upgraded by Fitch Ratings02 May 2024, Published under Cement NewsCEMEX has reached full investment grade status after being upgraded to BBB- by rating agency Fitch Ratings. This follows S&P Global Ratings’ upgrade announced in March 2024. “Achieving investment grade is a milestone for CEMEX,” said Fernando A González, CEO of CEMEX. “This rating is confirmation of both our strategy and our execution against it. By optimizing our cost of capital, it also serves as the foundation for increased financial flexibility going forward to address our... |
Vicat sees 8% like-for-like advance in 1Q sales01 May 2024, Published under Cement NewsVicat reported a 1.2 per cent YoY (+7.9 per cent like for like (lfl)) uptick in consolidated sales to EUR911m in the first quarter of 2024 from EUR899m in the 1Q23. The company attributes the positive results to 4.1 per cent increase in cement volumes to 6.9Mt, a 5.4 per cent advance in concrete volumes to 2.2Mm3 and a still resilient pricing environment in most markets with a favourable cost/price differential. “The Vicat Group enters 2024 with organic growth of nearly eight per cent, dri... |
Huaxin Cement sees revenue advance 7% YoY01 May 2024, Published under Cement NewsHuaxin Cement has posted revenue of CNY7.08bn (US$977m) in the first quarter of 2024, ended 31 March, up 6.9 per cent on the same period a year earlier. Net income over the same timeframe declined 28 per cent to CNY177.5bn. Meanwhile, the profit margin fell from 3.7 per cent in the 1Q23 to 2.5 per cent in the 1Q24, reportedly driven by higher expenses. Earnings per share in the 1Q24 stood at CNY0.09, down from CNY0.12 in the year ago period. According to Simply Wall St, revenue exce... |
Yamama Cement 1Q profit edges up 2%01 May 2024, Published under Cement NewsYamama Saudi Cement Co reported sales of SAR273.7m (US$73m) in the 1Q24 when compared with SAR279.9m in the year-ago period. The 2.2 per cent YoY drop was on the back of a decrease in sales volumes. However, the company’s net profit in the first three months of 2024 improved by 2.3 per cent to SAR115m from SAR112.4m. The positive change in net profit has been attributed to a decrease in the cost of sales and an increase in other revenues. |
Usje sees 58% jump in net profit in 1Q2401 May 2024, Published under Cement NewsCementarnica Usje AD of North Macedonia, part of the Titan group, reported a six per cent increase in domestic sales to MKD840.2m (US$14.6m) in the 1Q24 while export sales are up seven per cent YoY to MKD348.1m. The company also posted a three per cent YoY increase in operating revenue to MKD1.2bn in the first three months of 2024. Operating costs were down 10 per cent to MKD812.7m. As a result, net profit surged 58 per cent YoY to MKD299.9m. |
UltraTech Cement sales up 9% YoY30 April 2024, Published under Cement NewsIndia’s UltraTech Cement , part of the Aditya Birla Group, has reported a strong performance in the 4QFY24, ended 31 March 2024. Consolidated net sales for the three-month period came in at INR200,690m (US$2.4bn), marking a nine per cent advance YoY, while profit after tax advanced 36 per cent YoY to INR22,580m. For the full year 2024, the company reported a 12 per cent improvement in consolidated net sales to INR698,100m. Profit after tax came in at INR70,050m, up 38 per cent YoY, whil... |
Dangote reports 101% revenue surge in 1Q2430 April 2024, Published under Cement NewsDangote Cement has reported group revenue of NGN817.4bn (US$659m) in the first quarter of 2024, ended 31 March, marking a 101 per cent surge YoY. EBITDA advanced by 66.6 per cent over the same period to NGN309.5bn, giving a 37.9 per cent margin, while group volumes advanced 12.3 per cent to 7Mt. Profit after tax stood at NGN112.7bn, up 2.9 per cent YoY. In Nigeria, Dangote saw a strong rebound in volumes, up 26.1 per cent YoY to 4.6Mt. This resulted in EBITDA growth of 41.8 per cent to... |