Cement News tagged: Corporate
YTL Corp returns to profit in the 4QFY19
Malaysia’s YTL Corp Bhd posted a net profit of MYR2.44m (US$578,705) for the 4QFY19, against a net loss of MYR63.54m in the year-ago period. Revenue increased 20 per cent to MYR5.04bn from MYR4.2bn in the 4QFY18. Except for its property and utilities business segments, the company recorded positive growth in profit before tax (PBT) in all its business divisions during the quarter. The const...
Cahya Mata Sarawak sees decline in 1H19 net profit
Malaysia's Cahya Mata Sarawak Bhd (CMS) recorded a 54.9 per cent decline in net profit to MYR41.33m (US$9.79m) for the 2Q19, compared with MYR91.63m in the year-ago period. However, revenue showed a modest increase to MYR399.17m from MYR395.28m. In the 1H19, net profit decreased 37 per cent to MYR82.1m, while revenue rose 8.9 per cent to MYR817.35m. The company has attributed the lower earni...
Vassiliko Cement sees 9% increase in total income
Cyprus’ Vassiliko Cement has seen an 8.9 per cent YoY increase in total income to EUR53.99 for the first six months of 2019, compared with EUR49.6m in the year-ago period. Profit after tax advanced 13.5 per cent to EUR10.1m from EUR8.9m in the 1H18. The company expects to exceed the previous year’s total income of EUR97.9m in the full-year period.
Adelaide Brighton achieves 1H19 revenue of AUD755.7m
Adelaide Brighton recorded 1H19 revenue of AUD755.7m (US$506.1m), down 6.3 per cent on 1H18 due to a softening of residential and construction demand. EBIT stood at AUD85.2m, presenting a decrease of 31 per cent, driven by rising material input costs and competitive pressures. Australia's residential construction approvals fell 25.6 per cent in the six months to June 2019, while construction ...
Fauji Cement sees 17% decrease in profit
Pakistan's Fauji Cement Co recorded a 17 per cent fall in profit to PKR2.824bn (US$17.7m) for the year ended 30 June 2019, compared with PKR3.429bn in the FY18. Revenue was mostly unchanged at PKR20.8bn, while volumes dipped by 13 per cent YoY to 2.96Mt. Revenue declined four per cent YoY to PKR5.2bn during the 4QFY19, as higher retention prices offset some of the impact of a 16 per cent de...
Boral reports net profit of AUD486m in FY19
Boral reported net profit of AUD486m (US$325.7m) for the full year ended 30 June 2019, six per cent down on FY18. Sales revenue was steady at AUD5863m on FY18 and sales revenue for continuing operations of AUD5801m up four per cent. EBITDA reached AUD1037m compared to AUD1056m in FY18. "Boral’s full year results demonstrate the benefits of strong infrastructure activity in Australia and resi...
Dongwu Cement reports 12% rise in 1H profit
Dongwu Cement reported a turnover of CNY251.739m for the first six months of 2019, representing an increase of 14.7 per cent YoY, according to a company to the Hong Kong Stock Exchange. The company’s cement business posted a gross profit margin decreased to 20.7 per cent from 22.8 per cent in the 1H18. The profit attributable to Dongwu Cement’s owners increased to CNY32.219m in the first ha...
Sinai Cement records 20% loss increase in 1H19
Egypt’s Sinai Cement has seen its net loss widen 20.2 per cent YoY to EGP187.23m (US$11.3m) during the first six months of 2019, compared with EGP155.74m in the 1H18. The cost of sales advanced 23 per cent to EGP424.54m from EGP345.07m. However, net sales increased 12.7 per cent to EGP346.19m from EGP307.29m.
Uzbekistan’s Akhangarantsement sets monthly shipment record
Uzbek cement producer Akhangarantsement produced 1.1Mta, up 29 per cent YoY, in the first seven months of 2019. In July 2019 the company delivered 190,349t of cement, representing a rise of 34 per cent when compared with July 2018 and setting a new record. The growth in output is supported by the plant’s quarry, which mined more than 1Mt of limestone. The rise in quarry output confirm the ...
Raysut Cement and Bank Nizwa sign OMR19.5m financing agreement
Raysut Cement Co has signed a OMR19.5m (US$50.6m) agreement for Shari’a-compliant financing facilities with Oman-based Islamic lender Bank Nizwa. The facilities consist of long-term financing of OMR12m, working capital of OMR3m to the cement producer’s Salalah plant and OMR4.5m for the construction and expansion of Sohar Cement Factory. Sheikh Abdul Hafidh Salim Al Barami, vice chairman of ...
LafargeHolcim's takeover of Somaco to be investigated
Romania's competition authority is to analyse LafargeHolcim's acquisition of Romanian precast concrete producer Somaco. LafargeHolcim had signed an agreement in July with Romanian-based Oresa for the acquisition of Somaco. LafargeHolcim wants to develop its ready-mix and aggregates business in Romania and Somaco owns five precast concrete plants and one aerated block company. Somaco r...
Jaime Hill appointed as CEO of Holcim Mexico
Jaime Hill has been appointed as the CEO of Holcim Mexico, as the company looks to strengthen operations and consolidate the firm in the cement, aggregate, concrete and value-added product sectors, according to a press release. "I am honoured to take on this responsibility because Mexico is a key country for LafargeHolcim. In strategy 2022, we will implement a simpler and results-oriented o...
Tourah Cement rejects kiln auction result
Tourah Cement rejected the auction result to sell off the old kilns of its Tourah plant as a result of the low price received. They are to be reauctioned later. The proceeds from selling the kilns, which ceased operation in 2013, reached around EGP7.6m (US$459,419), according to the company.
Misr Cement (Qena) records 85% decrease in profit
Egypt’s Misr Cement (Qena) has reported an 85.2 per cent YoY fall in profit to EGP14.69m (US$886,660) for the first six months of 2019, compared to EGP99.37m in the year-ago period. General and administrative expenses rose to EGP79.16m from EGP57.18m in the 1H18. Standalone results saw the company’s net profit decline 84.7 per cent YoY to EGP8.09m from EGP52.84m.
Bamburi Cement 1H19 pretax profit declines
Bamburi Cement reported a turnover of KES18.663bn (US$181.18m) in the1H19, up 0.6 per cent when compared with KES18.556bn in the 1H18. The Kenya-based cement producer’s pretax profit fell to KES23m from KES722m in the first six months of 2018. The company’s profits were impacted by higher energy and logistics costs. However, profitability is expected to recover in the second half of the ye...
Hail Cement resumes operations after shutdown
Saudi Arabia’s Hail Cement has resumed operations of its production line after shutting down for maintenance works . However, cement crushers and its packaging line remained active during the shutdown. The financial impact of the temporary stoppage is expected to appear in 3Q results.