Cement News tagged: Corporate
Dangote Cement 9M15: new operations help offset weaker domestic demand
Dangote Cement said nine-month profit gained 12 per cent as its new operations across the African continent helped offset weaker demand in its home market of Nigeria. Net income was NGN158bn (US$794m) in the nine months through September, compared with NGN141bn a year earlier, the company said in a statement on Monday. Sales rose 18 per cent to NGN366bn. Lower oil prices and a weaker currenc...
Eagle Materials reports record quarterly cement earnings and volumes
Eagle Materials Inc posted yesterday record quarterly Cement and Paperboard division operating earnings as demand for the company's building materials and construction products remained strong in each of its regional markets “Eagle's construction products and building materials businesses continued to perform exceptionally well during the second quarter, with the Cement and Paperboard busi...
Lafarge Africa Plc profit slips 6.5%
Lafarge Africa Plc has reported a profit after tax of NGN29bn (US$145.7m) for the nine months ended 31 September 2015, compared with NGN31bn recorded in the corresponding of 2014. The company said Nigerian unit Ashaka Cement's numbers were affected by the unrest during the start of the year, explaining that Ashaka has since returned to normal operations. It added that industrial performance ...
Lafarge Malaysia Bhd considers Sarawak investment
Lafarge Malaysia Bhd is considering to re-operate in Sabah and Sarawak regions amid the huge potential, its newly-appointed president and chief executive officer, Thierry Legrand, has indicated. Mega projects in the region include the MYR16.1bm Pan Borneo Sarawak Highway. Mr Legrand told local press that the company would consider proposing the usage of cement and concrete-based material in ...
ARM swings to nine-month net loss, Kenya
Athi River Mining (ARM) posted an after-tax loss of KES469m (US$4.6m) for the nine months to the end of September 2015, largely attributable to the depreciation in regional currencies against the dollar. The cement maker, which reported an after tax profit of KES1.1bn in the same period of 2014, said revenue for 9M15 rose seven per cent to KES11.7bn, thanks to increased cement sales in Kenya ...
LafargeHolcim successfully completes squeeze-out of Lafarge SA
LafargeHolcim today announced on Friday it has successfully implemented the squeeze-out of Lafarge SA. With this the shares of Lafarge SA are now delisted from Euronext Paris as of today. "The completion marks an important and final step in the merger process of the Group’s legacy companies and allows LafargeHolcim to continue focusing on delivering the synergies and progress with the integrat...
HeidelbergCement reduces refinancing needs by further €500m
HeidelbergCement has taken another step to optimise the financing of the Italcementi acquisition. The volume of the bridge financing could be reduced by further EUR500m from EUR3.8bn to EUR3.3bn. The refinancing needs in the bond market declined by EUR500m to around EUR2.5bn, correspondingly. Decisive for the reduction of the financing volume was that some of Italcementi’s creditor banks ha...
China Resources Cement nine-month net profit drops 61%
China Resources Cement said its profit attributable to owners for the nine months ended 30 September 2015 dropped 60.6 per cent YoY to HKD1282.2m. Turnover was HKD19,752m, a decrease of 15.5 per cent from a year earlier. The consolidated gross margin for the period was 24.4 per cent, representing a decrease of 6.7 percentage points from 31.1 per cent for the corresponding period last year. T...
Attock Cement 1Q net profit up 2%
Attock Cement announced a net profit of PKR470m (US$4.5m) in the first quarter (Jul-Sep) of fiscal year 2015-16, up just two per cent compared to the profit it earned in the same period of the previous fiscal year. Earnings per share (EPS) were up to PKR4.20 from PKR4.11 in the period under review. The company registered a 10 per cent YoY decline in sales mainly on the back of a 10 per cent ...
Cemex' gearing rises to 183 per cent
During the first nine months of the year, Cemex' turnover declined by 7.2 per cent to US$10,722.4m while the EBITDA was 1.4 per cent lower at US$1,974.3m. The trading profit, however, advanced by 5.8 per cent to US$1264.6m while the net interest charge declined by 24 per cent to US$962.4m. Pre-tax profit improved by 41.1 per cent to US$166m. A 43.5 per cent lower tax charge led to the net a...
Cemex Latin American Holdings burdened by weaker Colombian markets
Cemex Latin American Holdings' turnover for the first nine months of the year declined by 16.8 per cent to US$1,102.1m and the EBITDA came down by 21.8 per cent to US$346.3m. The reduction at the trading level was 24.3 per cent to US$281.5m. After a net interest charge that was 22.5 per cent lower at US$58.3m, the pre-tax profit emerged 35.5 per cent lower at US192.4m. A 15.5 per cent lower...
Vietnam: Thanh Thang Cement Corp signs credit agreement for new second line
Bank for Investment and Development of Vietnam (BIDV) on Wednesday signed a credit contract with Thanh Thang Cement Corp to develop a second line at the Vietnamese cement producer's plant in the northern province of Ha Nam. Under the agreement, BIDV will lend VND3.5trn (US$155.56m) to the project which requires a total investment of VND4.8trn, the Thoi Bao Kinh Te Vietnam newspaper reported T...
CNBM issues 9M15 profit warning
China National Building Materials (CNBM) warned investors that its nine-month profit will likely plunge 80 per cent from a year earlier, implying that 3Q15 slipped into losses. CNBM blamed weak cement prices driven by a slowdown in demand and severe industry overcapacity. Barclays notes the profit alert points to a loss of CNY0.02 per share in the third quarter. It said that the profit warnin...
Hanson UK CEO to step down
Hanson UK chief executive officer, Patrick O’Shea, is stepping down in December after eight years at the head of the construction materials business. His successor will be Daniel Cooper, who is currently northern regional general manager for Hanson Australia. Patrick (pictured right) joined Hanson PLC in 1990 and held a variety of senior financial and operational roles before becoming chief ...
Sinoma International Engineering's new Nigerian contract
Sinoma International Engineering Co Ltd has recently entered into an engineering, procurement and construction contract for a 6000tpd clinker cement production line and a power plant with Ibeto Cement Co Ltd in Nigeria, worth US$386m. This project is located in Enugu area of Nigeria. The contract covers the whole process from exploitation of limestone mines and crushing of raw materials to pa...
Saudi Cement Co unveils new brand identity
Saudi Cement Co has launched a new brand identity an event which also marked company's diamond jubilee. Present at the ceremony were senior government officials, businessmen, suppliers and clients. According to a statement, the company chose to evolve its brand and motto in order to reflect a new identity and pledge its commitment to clients. Chairman Khalid bin Abdul-rahman Al Rajhi said th...