Cement News tagged: Corporate
Kohat Cement records 18% sales increase
Pakistan’s Kohat Cement Company Ltd (KCCL) has announced a 5.4 per cent YoY fall in profit after tax for the nine months ended 31 March, decreasing to PKR2.17bn (US$15.3m) from PKR2.29bn. However, sales increased by 17.9 per cent to PKR12.24bn during the 9MFY18-19. The company incurred a distribution cost of PKR109.4m, rising 16.4 per cent YoY from PKR94m in the year-ago period. Administrat...
Lafarge Maldives Cement celebrates 20th anniversary
Lafarge Maldives Cement recently celebrated 20 years of service in the construction industry of the Maldives. Lafarge Maldives Cement operates a terminal in Thilafushi, Maldives During this time, the company installed a 9400t cement storage silo in Thilafushi and a 1t jumbo packing machine. Over time, it has introduced 25 and 50kg bagged cement as well as 1t jumbo bags into the Ma...
Transaction of major stake in Dandot Cement is completed
Dandot Cement Co Ltd has informed Pakistan Stock Exchange (PSX) that Calicom Industries has acquired 63,542,787 shares of the company. Earlier, the company had reported that it received an intention from Calicom Industries to acquire control and 63,542,787 voting shares (67 per cent of paid-up capital) of the company. The buyer is expected to invest in the modernisation of electrical equipm...
Pioneer Cement announces 28% fall in net profit
Pakistan’s Pioneer Cement Limited (PCL) has announced a 28.1 per cent YoY decrease in net profit to PKR825m (US$5.82m) for the nine months ended 31 March, compared to PKR1.14bn in the year-ago period. However, net sales increased 3.8 per cent to PKR10.43bn from PKR10.05bn. The company incurred a distribution cost of PKR132m against PKR114m in the 9MFY17-18. Administrative expenses also rose...
INC to launch new cement product
Paraguayan state-owned cement producer, Industria Nacional del Cemento (INC) will introduce a new cement product, CP 2-C 40, designed for concrete structures such as bridges and road. The new cement, which brings the company’s product portfolio to four, is expected to arrive on the market in June 2019.
Dangote Cement sees volumes rise, revenues down in 1Q19
Dangote Cement reported increased volumes of 6.3Mt, up 2.3 per cent YoY, in the first quarter of 2019. However, group revenues slipped 0.8 per cent to NGN240.2bn (US$668m) and group EBITDA fell 11.2 per cent to NGN111.8bn. Nigeria Despite a subdued domestic economy, Nigeria’s cement market remained robust, expanding by six per cent in the 1Q19. However, the rate of growth slowed in Februar...
Dewan Cement reports 60% fall in net profit
Pakistan’s Dewan Cement Ltd (DCL) has announced its financial results for the third quarter ended 31 March, reporting a 59.6 per cent YoY decline in net profit to PKR394m (US$2.78m) from PKR975m. The company’s net sales fell 8.5 per cent to PKR9.46bn from PKR10.34bn during the 3QFY18-19. It also incurred a higher distribution cost of PKR175m, against PKR158m of the year-ago period. Administ...
Chile’s CBB lays out investment plan
In its AGM Chilean cement producer CBB has highlighted the recent inauguration of its Arica cement plant in northern Chile and presented the company’s further investment projects. Representing an investment of US$20m, the company plans a 0.2Mt cement plant in Arequipa, Peru, with an option to expand the unit at a later date. "We are very satisfied with both projects, part of the Transforma ...
Lucky Cement reports strong export sales in 9MFY18-19
Pakistan’s Lucky Cement Ltd has reported a PAT of PKR8.29bn (US$58.53m) during the nine-month period ended 31 March, a 15.4 per cent fall compared to PKR9.80bn of last year. The profit declined despite the company having achieved an overall gross sales revenue growth of 3.3 per cent YoY to PKR52.32bn from PKR50.63bn, with the increase attributed to higher export sales volumes for clinker. Howe...
Anhui Conch 1Q net profit sees 27% hike
Chinese cement major Anhui Conch Cement Co posted a 27.3 per cent YoY increase in net profits in the first quarter of 2019 following strong growth last year. Conch Cement said in a filing to the Shanghai Stock Excchange it earned a net profit of CNY6.08bn (US$903.5m) in the first three months of the year. Revenues surged 62.5 per cent to CNY30.5bn.
CRH continues share buy-back
CRH plans to repurchase EUR350m (US$390.6m) of ordinary shares between 29 April and 16 August 2019, according to a company statement. Under the terms of the buyback, ordinary shares will be repurchased on the London Stock Exchange and/or Euronext Dublin. CRH has entered into non-discretionary instructions with J&E Davy to conduct the transaction on its behalf and to make trading decisions un...
Cemex results supported by Europe in the 1Q19
Cemex has announced that its consolidated net sales increased by one per cent on a like-for-like basis to US$3.2bn during the first quarter of 2019, after adjusting for foreign exchange fluctuations. However, operating EBITDA decreased by three per cent YoY to US$562m. The increase in net sales has been attributed to the higher price of the company’s products, as well as higher volumes acros...
ACC shows 38% growth in profit for the 1Q19
India's ACC (LafargeHolcim group) has reported a 38 per cent YoY increase in profit after tax to INR3.46bn (US$49.51m) in the 1Q19, compared with INR2.5bn of the year-ago period. Total income advanced 11 per cent in the first quarter to INR40.76bn from INR36.72bn. Net sales also rose by eight per cent to INR38.50bn against INR35.57bn in the 1Q18. The company's cement segment was up 5.6 per c...
Tabuk Cement posts 3M profit
Saudi cement producer Tabuk Cement Co has returned to profit in the first quarter of 2019, posting a SAR3.63m (US$968,000) net profit. The rise has been attributed to increased revenues and investment returns, according to a company bourse statement. In 2018 the company reported a 316.4 per cent YoY hike in net loss after zakat and taxes to SAR98.84m while revenues fell 10.3 per cent to SA...
Ciments de Bizerte reports 7% rise in 1Q total revenues
Tunisia-based Les Ciments de Bizerte has reported a 6.9 per cent rise in total revenues to TND19.416m (US$6.4m) in the 1Q19 thanks to its resumption of exports, according to l’Economiste Maghrébin. Domestic sales in the period increased 5.1 per cent to TND19.364m while export sales reached 328,193t, up 25.7 per cent YoY. Output from the company’s production base fell 16.8 per cent YoY to 124...
Arabian Cement returns to profit in 1Q19
Arabian Cement net profits reached SAR37.1m in the first quarter of 2019, compared to net losses of SAR6.1m in the year-ago period, according to a statement to the Saudi Stock Exchange. Net profits surged 127.6 per cent QoQ from SAR16.3m in 4Q18. The company attributed the turnaround to higher revenues and lower costs. In addition, reduced general and administrative expenses and lower losses ...