Cement News tagged: Corporate
Birla Corp sees 200% rise in net profit
India’s Birla Corp has announced a 200 per cent YoY increase in its net profit to INR810m (US$11.32m) for the 3QFY19-20, while revenue advanced 10.7 per cent to INR17.35bn. EBITDA climbed 44 per cent YoY to reach INR3.15bn for the period. Total sales by volume rose seven per cent YoY to 3.4Mt in the quarter ending December 2019. The company’s capacity utilisation also grew five per cent to 8...
Cemex Holdings Philippines raises PHP12.7bn from SRO
Cemex Holdings Philippines completed a stock rights offering last week, raising PHP12.77bn (US$250.6m) from selling 8.29bn common shares. The proceeds are expected to be used to fund Solid Cement’s Antipolo expansion project and pay outstanding debt. "Post-SRO and subject to the approval from the Securities and Exchange Commission (SEC) of Cemex’s application for increase of authorised ca...
Ciments de Bizerte posts 32% increase in turnover in 2019
In the 4Q19 Tunisia-based Ciments de Bizerte saw its local turnover increase by 56.6 per cent YoY to TND29.068m (US$10.3m) from TND18.559m in the 4Q18. Export turnover reached TND2.561m. For the full-year 2019 Ciments de Bizerte reported a 32.3 per cent rise in turnover to TND97.104m, up from TND73.388m in 2018. In terms of clinker production, the company manufactured 242,409t in the 4Q19, u...
Ramco Cements records 5% revenue rise
India’s Ramco Cements saw a 6.3 per cent YoY decline in standalone net profit for the quarter ending 31 December 2019, falling to INR950m (US$13.28m) from INR1.01bn. However, revenue increased 5.3 per cent YoY to INR12.86bn, while EBITDA also advanced 4.7 per cent to INR2.21bn. "During the current quarter, the company witnessed sluggish demand in its core markets coupled with pressure on pri...
Orient Cement reports modest decline in income
India’s Orient Cement has reported a 1.3 per cent YoY decline in total income to INR5.67bn (US$79.3m) during the 3QFY19-20. However, the company considerably narrowed its net loss to INR56.7m from INR137m. In the nine months to December 2019, total income remained flat YoY at INR17.78bn from INR17.81bn. Meanwhile, it posted a net profit of INR425.2m against a INR144.3m loss during the year-a...
Lucky Cement reports profit fall during 1H20
Lucky Cement Ltd of Pakistan has announced its financial results for 1HFY19-20, posting earnings of PKR1.937bn (US$12.54m), down 65 per cent when compared with earnings of PKR5.501bn reported for the 1HFY18-19. Revenues also fell by 15 per cent YoY to PKR 21.211bn in the 1HFY19-20, largely due to a slowdown of demand coupled with weaker pricing resulting from the industry's demand-supply gap. ...
JK Lakshmi Cement records 251% surge in net profit
India’s JK Lakshmi Cement has seen a 251 per cent YoY surge in its net profit to INR493.1m (US$6.92m) in the October-December 2019 period, compared with INR140.5m in the previous year. Sales rose seven per cent YoY to INR10.05bn from INR9.35bn, while EBITDA advanced 48.5 per cent to INR1.67bn. The improved results were attributed to a reduction in logistic costs and improvements in fuel pric...
Shree Digvijay Cement announces 9% rise in income
India’s Shree Digvijay Cement has announced an 8.5 per cent increase in total income to INR1.23bn (US$17.2m) for the 3QFY19-20, compared with INR1.13bn in the year-ago period. Net profit also advanced to INR94.4m from an INR3.6m loss in the year-ago period. In the nine months ending December 2019, income rose 4.2 per cent YoY to INR3.43bn and net profit surged 671.7 per cent to INR332.6m.
Τitan launches its Group Digital Centre of Competence
Titan Cement Group has launched its Group Digital Center of Competence, to improve its operational efficiency and competitiveness, and to develop new ways of connecting with its customers. The Group Digital Center of Competence is part of the group's Digital Initiative, launched in May 2017. During the last three years, Titan has introduced multiple digital and advanced analytics pilots and ...
Siam Cement sees 32% decline in profit for the 4Q19
Thailand’s Siam Cement has seen a 32 per cent YoY decrease in profit to THB7.1bn (US$230.3m) for the October-December 2019 period. Overall revenue fell nine per cent YoY to THB106.18bn. Revenue from its cement and building material segment was down one per cent at THB45.14bn, due to lower sales in markets outside of southeast Asia, according to the company. Elsewhere, revenue from its chemi...
National Cement Co launches new 0.75Mta plant in Kenya
Kenya’s National Cement Co (Devki Group) has launched a new 0.75Mta facility in Salgaa, Nakuru County, representing an investment of around KES5.8bn (US$57.5m). The plant will manufacture the company’s Simba Cement product and is expected to generate 700 jobs. Narendra Raval, chairman of Devki Group, has stated that National Cement’s overall production capacity will rise from 2Mta to 3.5Mt...
UltraTech Cement sees 80% rise in net profit
India's UltraTech Cement (Aditya Birla Group) has posted a 79.8 per cent YoY increase in consolidated net profit to INR7.12bn (US$99.67m) for the 3QFY19-20, while EBITDA rose 25.4 per cent to INR21.41bn. The company has attributed the surge in profit to a higher price realisation and lower energy costs. However, net sales declined 1.2 per cent YoY to INR101.76bn in the December quarter. Ceme...
Qatar National Cement sees profit decline 51%
Qatar National Cement has recorded a 50.5 per cent fall in net profit to QAR172.16m (US$47.29m) for 2019, compared with QAR347.83m in the previous year. The company’s total cement production declined to 2.2Mt against 2.9Mt in 2018. In 2019 sales of all types of cement dipped to 2.6Mt from 2.9Mt. The company has also announced that it aims to diversify its cement production to meet local ...
Hanson appoints new packed products director
UK-based Hanson has appointed Andrew Simpson as its new packed products director. Mr Simpson will now be responsible for the sales of the company packed products, including cement, ready-to-use concrete and aggregates. Additional responsibilities now also include maintenance at the company’s ready-to-use production site in Nuneaton and its construction aggregate packing plants across the coun...
Cemex to invest MXN10bn in Tepeaca expansion
Cemex is investing MXN10bn (US$530m) in the expansion of its cement works in Tepeaca, Puebla, according to the group’s President, Grupo Cemex. The expansion of the plant aims to meet the demand of central and southern Mexico. Following the expansion, the cement works will have a capacity of 4.5Mta. According to the company the new project, along with 15 existing plants throughout Mexico, sho...
Kohat Cement commissions 7800tpd kiln line
Kohat Cement Company Ltd (KOHC) informed Pakistan Stock Exchange (PSX) on 27 January 2020 that it has successfully commenced commercial operations from its brownfield grey kiln line of 7800tpd, including waste heat recovery power plant, in Khyber Pakhtunkhwa province. A company notification says that after setting up of this additional line, the total installed cement production capacity of ...