Cement News tagged: Corporate
UltraTech Cement records positive results for FY18-19
India’s UltraTech Cement (Aditya Birla Group) has reported a 9.6 per cent YoY increase in consolidated profit after tax to INR24.35bn (US$347.6m) for the year ended 31 March 2019. Revenue for the fiscal rose 20.4 per cent to INR367.75bn from INR305.41bn. However, the company noted in an exchange filing that its results for the FY18-19 and final quarter are not comparable with previous periods ...
Maple Leaf Cement Factory records net profits of PKR1.89bn in 9MFY18-19
Maple Leaf Cement Factory Ltd (MLCFL) has announced its financial results for the nine-month period ended 31 March 2019 by declaring a net profit for the period of PKR1.89bn (US$13.34m), down 43.9 per cent YoY as compared to PKR3.37bn in the same period last year. Net sales of MLCFL during the 9MFY18-19 decreased to PKR18.28bn from PKR19.22bn during this period. MLCFL incurred a distributi...
RHI Magnesita raises refractory prices by 5% globally
RHI Magnesita has announced a global price increase for its products and solutions across both the steel and industrial divisions of five per cent across its portfolio. "To further accelerate investment in technology, environmental solutions, regulatory demands and the production infrastructure necessary to serve our clients, we are adjusting our prices to sustainable levels. This will fully ...
DG Khan Cement's net profit falls by 47%
DG Khan Cement (DGKC) has announced its unconsolidated financial results for 9MFY19. It reported net profit after tax of PKR2.62bn (US$18.5m), down 47 per cent YoY. The company's net sales surged by 30 per cent YoY to PKR 30.37bn from PKR 23.37bn during this period on the back of increases in cement prices and volumes (mainly exports), a research house remarked. Other highlights include a...
Thatta Cement's achieves net profit after tax of PKR164m
Thatta Cement Company Ltd (TCC), announced its financial results for 9MFY19 on 24 April. It reported net profit after tax of PKR164m (US$1.16m), down 47 per cent when compared to PKR307m in the year-ago period. TCC's net sales increased to PKR2.89bn from PKR2.17bn during this period, representing a growth of 33 per cent YoY. The company incurred higher distribution expenses of PKR208m and a...
CRH reports positive 1Q19
Ahead of tomorrow's AGM, CRH reports that the group has had a positive start to the year with 1Q19 like-for-like group sales seven per cent ahead of 1Q18. Sales volumes benefited from mild weather conditions and good momentum across most major markets for the group. Sales growth was also supported by pricing progress, reports CRH. Like-for-like sales for America Materials operations were fo...
Shiva Cement announces net loss in the 4QFY18-19
India’s Shiva Cement has reported a net loss of INR51.2m (US$732,110) for the quarter ended March 2019, against a net profit of INR24.1m during the year-ago period. Sales declined 5.6 per cent YoY to INR84.2m from INR89.2m. For FY18-19, the company’s net loss narrowed to INR212.6m from INR310.9m. Meanwhile, sales increased 16.3 per cent to INR293.8m in the full-year period, compared with INR...
Al Jouf Cement to convert second line to white cement production
Saudi Arabia’s Al Jouf Cement Co has signed a non-binding memorandum of understanding with Riga Co to convert its second line to the production of white cement. The line, which to date produced grey cement, reportedly entered trial production in 2013 and currently has a clinker capacity of 5000tpd. The company has stated that the agreement will enter into force on the date it is signed for...
Carthage Cement sees revenues up 3% in 1Q19
Tunisia-based Carthage Cement has reported a three per cent increase in revenues for the first quarter of 2019. Revenues were up to TND59.771m (US$19.889m) from TND54.862m. The company’s clinker and cement output expanded 10 and 26 per cent, respectively when compared with the 1Q18. However, clinker exports were down YoY to TND8.5m due to disruption at the ports, which led to deliveries be...
Qassim Cement announces 2% drop in 1Q19 net profit
Saudi Arabia’s Qassim Cement has announced that its net profit for the 1Q19 has fallen 2.1 per cent YoY to SAR56m (US$14.93m) from SAR57.2m. The company also reported that its sales for the first quarter increased 3.7 per cent to SAR153.4m, compared with SAR147.9m of the year-ago period.
Eagle Materials launches strategic review
Eagle Materials Inc, USA, has launched a strategic review of its portfolio of businesses, including heavy materials, light materials, and oil and gas proppants. The review will be conducted by its Board of Directors and management team, with the support of independent financial advisors. “As part of the portfolio review, the Company will carefully consider the full range of options focused o...
Fauji Cement profits surge 15%
Fauji Cement Company Ltd (FCCL), Pakistan, posted earnings of PKR2.4bn (USD16.99m), up by 15 per cent YoY for the nine months ended March 31 in FY2019. Net sales declined by 1.07 per cent to PKR15.64bn, from PKR15.81bn, primarily owing to drop in local dispatches. Over the period, distribution costs fell by 4 per cent to PKR183m, but administration expenses increased by 8 per cent to PKR...
MI Cement to raise debt for Bangladeshi grinding unit
MI Cement Factory Ltd is expected to raise foreign currency loans from HSBC and Standard Chartered Bank to finance its sixth line at its West Mukterpur, Munshiganj district of Bangladesh, according to the company’s Senior General Manager, Mozharul Islam. The US$70m project will add 8400tpd of grinding capacity to the site’s current capacity of 19,400tpd. Commercial production at the new unit...
Semen Indonesia Group and SBI see 47% rise in February sales
Semen Indonesia Group and PT Solusi Bangun Indonesia (SBI) have posted sales of 3.095Mt in February 2019, a significant increase of 47 per cent YoY when compared with a sales volume of 2.106Mt noted in February 2018. Semen Indonesia reported a 7.4 per cent YoY advance in its sales volume to 2.157Mt in February 2019. Of this total, the company supplied 1.856Mt to the domestic market, up 1.2 ...
Wacker opens competence centre for cement and concrete in Shanghai
Chemical company Wacker has opened a new competence centre for cement and concrete applications in Shanghai. The laboratory will develop silicone products that improve the properties of and longevity of cement and concrete in a sustainable way, with a particular focus on performance-enhancing silicone additives. "The new centre of excellence in Shanghai will help our clients face these chall...
Ecebol's Oruro cement plant produces first cement
On 15 April 2019, Empresa Publica Productiva Cementos de Bolivia's ( Ecebol) Oruro cement plant produced its first cement, according to schedule. In the following weeks the plant will carry out the performance tests and it is estimated is that by the end of May the Final Acceptance Certificate will be received. The consortium ThyssenKrupp Polysius-Imasa Ingeniería y Proyectos-Sacyr Industr...