Cement News tagged: Corporate
ARM Cement's Kenyan assets sold to National Cement
The Kenyan assets of ARM Cement have been sold to National Cement Co for US$50m, according to a statement by its administrators. The transaction is subject to regulatory approvals. The company was placed under administration last year by some of its creditors over what has been reported to be a US$190m debt. The news follows PriceWaterhouseCoopers starting preparations to dispose of ARM...
Cementarnica Usje records 47% rise in net profit for 1Q19
North Macedonia’s Cementarnica Usje (Titan) has announced that its consolidated net profit rose 47 per cent YoY to MKD138.8m (US$2.5m) in the first quarter of 2019. Total operating revenue increased 32 per cent to MKD851.9m in the 1Q19, while expenses advanced one per cent to MKD661.5m. Domestic market sales were up 31 per cent at MKD562.6m in the first three months of the year, while inter...
El Sewedy Cement sells Sinai Cement stake
Egypt-based El Sewedy Cement has sold its entire stake of 7.476 per cent in Sinai Cement’s capital for EGP41.97m (US$2.46m), or at an average price of EGP8.25/share, EFG Hermes said in a statement to the Egyptian Exchange on Monday. In the first quarter of 2019, Sinai Cement’s net losses eased to EGP-78.18m from EGP-83.98m in the year-ago period. Revenues increased to EGP201.08m, up from EGP...
Asia Cement Corp announces 54% rise in net income
Taiwan’s Asia Cement Corp saw a 54.4 per cent surge in net income for the first quarter of 2019 at TWD2.93bn (US$93.6m). Analysts has claimed that the results were mainly due to a strong cement business in China and non-operating income from its investments in other affiliates of its parent company, Far Eastern Group, according to the Taipei Times. Consolidated revenue in the first four mon...
Shree Cement sees 14% revenue increase and plans new capacity
India’s Shree Cement has announced a 19.6 per cent YoY fall in net profit to INR3.21bn (US$46.18m) for the 4QFY18-19. However, revenue increased 14.2 per cent to INR33.29bn from INR29.15bn. The company’s cement segment recorded a 16.9 per cent increase in revenue to INR32.84bn from INR28.11bn. Meanwhile, the company has also announced plans to add 3Mta of grinding capacity to its unit in P...
Sonacim appoints new Deputy Director General
Société Nationale de Ciment du Tchad (Sonacim) has appointed Faïtchou Etienne as Deputy Director General. State-owned Sonacim runs a 0.21Mta cement works at Baoré, 200km of the country’s capital, N’Djamena. In addition, CIMAF Tchad operates a 0.5Mta cement plant in N’Djamena. The company is the product of a collaboration between Chad and Morocco. A further cement plant project, with China,...
JK Cement sees 55% rise in 4Q net profit
India-based JK Cement reported a 55 per cent rise in net profit to INR1.5bn (US$21.5m) for the fourth quarter ended March 2019 when compared with INR960m in the 4QFY17-18. The company’s total revenues rose from INR13.16bn in the 4QFY17-18 to INR14.92bn in the final three months of the 2018-19 financial year. However, JK Cement’s net profit declined to INR3.25bn in the FY18-19, down five pe...
Burnpur Cement posts net loss of INR31.2m in 4QFY18-19
Indian cement producer Burnpur Cement has reported a net loss of INR31.2m (US$448,725) in the fourth quarter of FY18-19. This compares to a net loss of INR39.5m posted in the previous year’s quarter ended March 2018. Sales rose 29.1 per cent YoY to INR240.2m from INR18.61m. For the full financial year, net loss came down to INR126.7m in FY18-19 from INR444.9m in FY17-18. Sales increased 106....
YTL executives appointed to Lafarge Malaysia board while CEO resigns
Yeoh Khoon Cheng has resigned as CEO of Lafarge Malaysia although he will stay on as the group’s executive director. In addition, Lafarge Malaysia Vice Chairman, Martin Kriegner, and non-independent and non-executive directors John William Stull and Datuk Tan Pei Ling have also resigned. In a separate move, several YTL Corp Bhd executives have been appointed to the company’s board. YTL Cor...
Acquisition of Holcim Philippines may reduce cement prices
The Philippine’s Department of Trade and Industry (DTI) has stated that it expects San Miguel Corp’s recent acquisition of a majority stake in Holcim Philippines to result in lower prices of locally-produced cement. "We can expect more synergies in their operations, more economies of scale which will hopefully bring down their cost, prices. But we still expect some segmentation of the marke...
South Valley Cement profit down 54% in 2018
Egypt-based South Valley Cement Co posted a profit of EGP10.18m (US$597,032) in 2018, representing a 54 per cent YoY dropwhen compared with EGP22.14m reported in 2017, according to as statement to the Egyptian Exchange (EGX). Revenues declined to EGP798.93m in 2018 from EGP1.02bn in the previous year. The company’s operating profit margin fell sharply due to higher production costs and a fa...
Yura sees 7% fall in profit for the 1Q19
Peru’s Yura has posted a 7.1 per cent YoY drop in profits to PEN37.6m (US$11.3m) for the first quarter of 2019, with the decrease attributed to lower sales and greater sales costs. Overall sales fell by 3.4 per cent to reach PEN222.6m. Domestic sales fell by 2.8 per cent due to lower public investment, while exports declined 41 per cent on the back of the launch of Yura production in Bolivi...
Arabian Cement records 96% fall in profit
Egypt’s Arabian Cement has reported a 96.3 per cent YoY decline in consolidated profits for the first quarter of 2019, declining to EGP5.97m (US$350,284) from EGP162.01m in the year-ago period. Sales fell to EGP827.85m in the 1Q19, compared to EGP913.93 in the corresponding period of last year. Stand-alone results show a 97.4 per cent decrease in profits to EGP4.23m from EGP160.95m.
Lucky Cement receives corporate excellence award
Lucky Cement Ltd has been awarded the 34th Corporate Excellence Award 2019 in the Cement Sector by the Management Association of Pakistan, for the fifth time in a row, last month. Lucky Cement stated in an announcement : "We thank our employees, business partners, customers and other stakeholders for helping us achieve this recognition. We continue to strive hard to reach new heights whils...
LafargeHolcim reports net sales growth of 6% in 1Q19
LafargeHolcim reported strong growth in net sales for 1Q19, rising 6.4 per cent and an over-proportional increase in recurring EBITDA, up 20.6 per cent. Group net sales of cement for 1Q19 amounted to CHF4079m up from CHF3995m in 1Q18, advancing by 2.1 per cent. Aggregate net sales climbed to CHF813m, up from CHF764m, an increase of 6.4 per cent on 1Q18. The group's ready-mix net sales in 1Q...
Cementir shows strong 1Q recovery
Cementir's first-quarter turnover recovered by 9.1 per cent to EUR264.4m (US$296.4m) and EBITDA rose by 39.8 per cent to EUR33.7m, while at the trading level the advance was reduced to 23.6 per cent to EUR7.8m. At the pretax level, there was a swing from a EUR7.2m profit to a loss of a EUR0.3m. Net debt at the end of March was EUR416.4m compared with EUR387.1m a year earlier, to give a gearing...