Cement News tagged: Corporate
Tasek sees fall in net profit for 3Q17
Malaysia-based Tasek Corp Bhd posted a 3Q net profit of MYR1.89m (US$447,190) a fall from MYR7.56m in the corresponding period of the previous year, according to The Star Online. The company has a total net profit of MYR6.93m so far this year, a considerable decrease from MYR48.2m of 9M16. The decline in profits has been attributed to a reduced demand for cement.
East African Portland Cement reports KES1.4bn loss
East African Portland Cement Co (EAPCC) saw its net profit of KES4.1bn (US$39.6m) for the year ended 2016 evaporate to record a KES1.4bn loss for the year ended 30 June 2017. Revenues at the Kenya-based cement producer fell 21.9 per cent YoY to KES6.93bn from KES8.87bn. Loss before tax in FY17 stands at KES1.71bn compared with a pretax profit of KES3.73bn in the year-ago period.
Vicat reports 4% growth in consolidated 9M17 sales
Vicat’s 9M17 sales reached EUR1.92bn (USD2.22bn) versus EUR1.87bn a year earlier, reflecting a 4 per cent rise at constant scope and exchange rates. On a reported basis, the group’s sales rose 2.9 per cent compared with the same period of 2016. These results were supported by a 4 per cent pick-up in sales at constant scope across all Vicat’s regions, except for West Africa. The negative curr...
Dandot Cement Company reports a loss for FY2017
Dandot Cement Company Ltd has announced its financial results for FY2017. The Pakistan-based company reported a loss of PKR527m (US$4.9m) compared to the loss of PKR280m in the previous financial year. The net sales of the company fell in the same period, decreasing from PKR2.98bn of FY2016 to PKR2.49bn for FY2017. The cost of distribution increased from PKR18m to PKR24m.
Cementarnica Usje sees 10% net profit fall in 9M17
Titan-owned Cementarnica Usje of Macedonia reported a net profit fall of 10 per cent YoY to MKD865.9m (US$16.4m) in the first nine months of 2017. The company’s operating revenue rose three per cent YoY to MKD3.44bn, said the cement producer in a bourse filing. Operating expenses increased eight per cent to MKD2.46bn when compared with the year-ago period. Usje’s financial revenue rose ...
Sonangol denies oil supply suspension at Kwanza Sul
Sonangol, Angola’s national fuel company, denied Friday that it had suspended oil supplies at the Fabrica de Cimento do Kwanza Sul (FCKS). According to Sonangol, what is happening specifically with the FCKS is that the company does not have its own storage facilities to receive and do fuel oil distribution logistics. This situation "threatens the arrival of fuel in the area of the plant,...
Martin Marietta 3Q17 results see cement shipments down 9.7%
Martin Marietta's 3Q17 total revenues for the building materials business, which includes the aggregates, cement, ready-mixed concrete and asphalt and paving product lines, were US$1.024bn, down slightly from US$1.039bn. The cement product line generated pricing growth of 3.9 per cent, driven by ongoing construction activity in the Dallas/Fort Worth area. Ready-mixed concrete and asphalt pr...
Ramco reports 2Q17 net profit of US$26m
Ramco Cements has reported a drop in net profit during the 2Q17-18, due to tough local market conditions in Tamil Nadu and increasing operating costs driven by increasing power, fuel and transportation costs. The company reported a net profit of INR168.520 (US$26m) on a total revenue of INR10.73bn. Transportation and handling costs increased to INR2107m. Power and fuel costs increased to INR1...
Orient Cement reports 2Q17 net profit of US$1.57m
Orient Cement (CK Birla group) reported a net profit of INR101.5m (US$1.57m) in the second quarter ended 30 September. The company had reported a net loss of INR293.9m in the year-ago quarter, Orient Cement said in a BSE filing. Revenue from operations was at INR5230.7m during the quarter under review as against INR4449.3m in the same period last fiscal. Total expenses during the se...
Beumer appoint new director of customer support
Beumer has appointed Guido Hesse, 50, as its new Director of Customer Support at the Beumer Group headquarters in Beckum, Germany. Mr Hesse controls and coordinates the global centre of competence and defines, together with his team, the technical and organisational principles of services and support for the Beumer products. "We see our task not only in preventing malfunctions and machine bre...
MonCement Building Materials received EBRD Award
MonCement Building Materials LLC that has been awarded with The European Bank for Reconstruction and Development's ( EBRD) Environment & Social Best Practice Award, having introuduced the latest European eco-technology to its plant. "The MonCement plant consists of limestone open pit, two cement production lines, Mongolia’s first-ever waste heat recovery plant (WHR) which is capable of ...
Titan Group announces 9M17 net profits of EU33.1m
Titan Group recorded a small increase in sales and operating profitability in the nine months of 2017, mostly thanks to the growth in the US market. Consolidated turnover reached EUR1144.5m, posting a 1.8 per cent increase compared to the same period in 2016. EBITDA increased by 4.6 per cent to EUR214.5m. Net profit, after minority interests and the provision for taxes, stood at EUR33.1m versu...
Semen Indonesia sales volumes up 6% in September
Semen Indonesia consolidated sales increased by 6.3 per cent YoY to 2,639,187t in September 2017. Volumes were primarily destined for the domestic market, which received 2,513,297t, an increase of 3.7 per cent when compared with the year-ago period. In addition, the cement producer saw its export sales more than double from 60,499t in September 2016 to 125,890t in September 2017. Of total d...
Masud Khan appointed CEO of Crown Cement
According to The Daily Star, Masud Khan has been appointed CEO of Crown Cement Group. Mr. Khan has previously served as CFO of LafargeHolcim Bangladesh Ltd. Alongside this, Khan has also been an independent director of Marico Bangladesh Ltd, GlaxoSmithKline Bangladesh and Berger Paints Bangladesh Ltd. “I believe that Crown will rise to greater heights in the years ahead and I am excited to ...
Kuwait Cement earnings surpass US$10m in 3Q17
Kuwait Portland Cement achieved a jump of 471.61 per cent in profits during the 3Q17 compared to the same period last year. The company's earnings soared to KWD3.13m (US$10.37m) in 3Q17 compared to nearly KWD547,320 (US$1.81m) in 3Q16, according to a bourse statement issued on Wednesday. During the first nine months, Portland Cement posted KWD8.19m profits which were 30 per cent higher ...
MOU signed for Shree Cement to investigate potential new plant in Jharkhand
The Jharkhand government has signed MoUs with Mineral Exploration Corporation Ltd (MECL) for undertaking mineral exploration to identify prospective mineral blocks with Shree Cement for setting up a cement plant in Jharkhand, a state government a press release said. The MOU was signed at a three-day Mining and Minerals summit in Jharkhand, India.