Cement News tagged: Corporate
Hetauda Cement Industries sees losses mount up
A combination of COVID-19, stalled construction activities and falling cement sales have seen Hetauda Cement Industries' losses grow fivefold YoY. The state-owned Nepalese company amounted losses totalling NPR50m (US$417,872) in the last fiscal year ended mid-July. According to the factory, it was able to sell only 1.45m bags of cement and clinker out of the 1.9m bags it produced in the last ...
Shares in Titan Cement International sold
Titan Cement International SA announced the disposal of 7701 shares by its subsidiary Titan Cement Company SA of Titan Cement International SA. The shares were sold on 21 August 2020 at an exercise price of EUR10/share (EUR77,010 in total). Following the transaction, Titan Cement Company SA owns 5,226,748 shares in Titan Cement International, representing 6.34 per cent of the voting rights of...
Anhui Conch's 1H20 profit rises 5.3%
Anhui Conch Cement's net profit rose in the 1H20, on the back of a resumption of construction projects in Asia and higher sales in western China. However, due to the COVID-19 pandemic, cement sales volumes fell across the regions the company operates in, except for west China. The cement company's net profit increased by 5.3 per cent to CNY16.09bn (US$2.33bn) during the period, the company r...
China Resources Cement records 11% rise in profit
China Resources Cement saw its net profit rise 11 per cent YoY to HKD4.19bn (US$540.6m) for the first half of 2020. Revenue fell three per cent to HKD16.88bn, on the back of lower cement sales volumes. "The gradual stabilisation of infrastructure construction and the real-estate market, as well as the steady progress of urbanization and rural construction, will be conducive to the stable de...
CRH sees EBITDA rise 2% in the 1H20
CRH has released its unaudited results for the first half of 2020, showing a 4.9 per cent YoY decline in revenue to US$12.2bn from US$12.85bn in the 1H19. However, EBITDA edged up two per cent on a like-for-like (LfL) basis to US$1.59bn. Profit before tax for the 1H20 reached US$518m against US$717m last year, primarily reflecting a lower profit on divestments. "As a Group we took swift and...
Argos recognised as top innovation company
Argos has achieved fourth place from 242 entrants in the annual measurement carried out by the Colombian National Association of Entrepreneurs (ANDI), in alliance with the Dinero Magazine. The accolade places Argos as one of the most innovative companies in Colombia. Among the achievements that Argos has been credited for is the generation of more than 25 per cent of its income from innovat...
PPC and subsidiaries record double-digit growth in July
PPC reports that its total volumes at its international subsidiaries saw double-digit growth in July compared to sales in July 2019. "The demand is especially strong in Zimbabwe and Rwanda and the growth of sales volumes during July has been positive in the DRC as well," PPC said. "The increased sales volumes and the effect of the cost reduction and cash preservation measures have resulted ...
BBMG Corp sees net profit fall 50%
China’s BBMG Corp has seen its net profit fall 50 per cent YoY to CNY1.52bn (US$219.6m) for the first half of 2020. Operating revenue also declined 8.3 per cent to CNY40.93bn, attributed to a dip in results from the cement and ready-mix concrete segments. The company has stated that cement sales rebounded in the second quarter, but its future development will face certain risks as the COVID-...
Siam Cement Group releases results for Philippine operations
Thailand’s Siam Cement Group has reported a 39 per cent YoY decline in revenue to PHP5.34bn (US$109.7m) from its Philippine operations for the first half of the year, on the back of a weak performance in its building materials business, reports The Philippine Star. In the 2Q20, the company’s local operations posted a 53 per cent decrease in revenue to PHP2bn. The news follows the release o...
More jobs to go at South Ferriby
Another 26 jobs will go at Cemex's mothballed South Ferriby Cement plant after a review of the tanker fleet. The plant in north Lincolnshire, UK, lost 110 jobs last month and the latest job losses come after the tanker drivers have had a consultation about the non-viability of their operations with the manufacturing site no longer producing cement. Cement production has been shifted to the co...
JK Cement WhiteMaxX is launched
JK White Cement has launched a brand refresh and a new avatar that now reads 'JK Cement WhiteMaxX'. The new brand is designed to offer a contemporary and differentiated identity, while integrating a critical section of its product line under the ‘MaxX’ umbrella, according to the company. Niranjan Mishra, Business Head (White Cement Business), said: "JK White Cement has undoubtedly emerged as ...
Mayur Resources has 20-year mining lease approved
Mayur Resources' Central Cement & Lime Project (CCL) in Papua New Guinea (PNG) is a major step closer to development with the PNG Government announcing it has granted the project a 20-year mining lease. This grant is the final statutory approval required to allow construction to begin on the vertically integrated manufacturing facility, which is 25km northwest of Port Moresby and has the pot...
Imerys set to acquire 60% stake in refractory supplier
France-based Imerys has signed an agreement for the acquisition of a 60 per cent stake in Turkey’s Haznedar Group, a high-grade monolithic refractories and refractory brick manufacturer. The industrial minerals company will also have the option to purchase the remainder of Haznedar. "With this deal, Imerys will complement its current offer with basic and acidic refractory bricks and extend ...
Misr Beni Suef Cement records 84% rise in profit
Egypt’s Misr Beni Suef Cement Co has seen its profit rise 84 per cent YoY to EGP29.5m (US$1.85m) during the second quarter of 2020, against EGP16m in the 2Q19. The company also reported a 94 per cent increase in profit to EGP88.77m in the 1H20, compared to EGP45.66m in the corresponding period of 2019. However, revenue declined 52 per cent YoY to EGP216m. Cement sales, including exports,...
Burnpur Cement sees net revenue down 2% YoY
India’s Burnpur Cement has reported a standalone net loss of INR163.9m (US$2.19m) in the first quarter of FY20-21, compared to an INR18.4m loss in the year-ago period. Net revenue for the company also saw a marginal decrease of 1.9 per cent YoY to INR196.7m from INR200.4m.
Votorantim Cimentos 2Q20 cement sales edge up
Votorantim Cimentos released its results for the 2Q20, announcing that the company’s cement sales volumes reached 7.5Mt, up 0.3 per cent on the 7.4Mt sold in the 2Q19. Net revenues reached BRL3876 (US$717.21m), up 18 per cent on the 2Q19 when it totalled BRL3298m. EBITDA amounted to BRL735m up from BRL491m in the 2Q19. Consolidated net revenues totalled BRL3.9bn in the 2Q20, an 18 per cent in...