Cement News tagged: Corporate
Cherat Cement Pakistan profits up by 50%
Cherat Cement (CHCC) of Pakistan has announced 1QFY18 net profit after tax of PKR606m (US$5.75m), up 50 per cent YoY. The company net sales grew by 33 per cent YoY to PKR 3.891bn. It incurred distribution expenses of PKR81m and administrative expenses of PKR57m compared with PKR63m and PKR50m, respectively in 1QFY17. Along with result, CHCC announced the installation of a 10MW WHR s...
Cemex Philippines sees 63% fall in 9M17 income
Cemex Holdings Philippines Corp said on Friday that its net income for the first nine months of 2017 had fallen 63 per cent as a result of lower prices and volumes amid heightened competition. Net profit in the 3Q17 declined to PHP688m (US$13.33m) from the PHP1.88bn reported in the same period last year primarily due to lower prices and volumes. The company said financial expenses fell ...
Livetouch Investments starts production at Redcliff plant
Livetouch Investments has commenced cement production at its 410,000tpa capacity plant in Redcliff, Zimbabwe, a senior company executive said. Managing director Dongning Wang told The Sunday Mail Business that the US$34m plant had started operations and has the second biggest production capacity of all local cement producers. Livetouch’s production is currently being distributed to pote...
Holcim Philippines breaks ground on Kalayaan project
Holcim officials broke ground at its Davao plant, where two major projects are being undertaken to raise the works’ production capacity from 1.4Mta to 2.2Mta. The PHP1.5bn (US$29m) Kalayaan project will see the automation of loading of its products from ship-to-dock and an increase in grinding project. The Davao expansion is part of Holcim Philippines’ PHP2.7bn investment to raise its do...
Lucky Cement profits grow by 6.8% in 1QFY18
Pakistan-based Lucky Cement Co Ltd reported 1QFY18 earnings of net profit of PKR3.01bn (US$28.5m), up by 6.8 per cent YoY. The company's revenue increased six per cent YoY to PKR11.2bn. This growth was primarily attributable to a rise in total dispatches YoY. The company achieved an overall growth of 5.9 per cent with a total sales volume of 1.8Mt during the first quarter compared to 1...
Shiva quarterly net loss deepens
India’s Shiva Cement has reported a deepening net loss of INR86m (US$1.33m) in the July-September 2017 quarter when compared with a net loss of INR26.3m in the year-ago quarter. Sales fell 41.8 per cent to INR36.6m in the quarter ended September 2017 when compared with INR62.9m in the July-September 2016 quarter.
LafargeHolcim's cement volumes increase by 4.7 per cent in 3Q17
LafargeHolcim announced cement volumes were up 4.7 per cent in 3Q17 and 1.8 per cent for the year to date. Globally, cement prices improved by 5.6 per cent in the quarter compared to the prior year on a like-for-like basis. Operating EBITDA adjusted increased by 5.9 per cent in the quarter to CHF1.750bn (US$1.751bn) on a like-for-like basis and was 9.2 per cent higher for the year to date....
Cemex 3Q17 net sales total US$3.5bn
Cemex announced that its consolidated net sales reached US$3.5bn during the 3Q17, representing an increase of two per cent, or an increase of one per cent on a like-to-like basis, versus the comparable period in 2016. Operating EBITDA decreased by eight per cent during the quarter to US$702m versus the same period in 2016. Fernando A Gonzalez, Cemex Chief Executive Officer, said: "We are pl...
LafargeHolcim in talks with PPC
LafargeHolcim announced that it is in talks with the board of directors of PPC regarding a possible transaction in Africa. “No agreement with PPC has yet been reached and no assurance can be given at this stage that a transaction will materialise,” said the building materials producer in a brief statement.
HK Stock Exchange may propose delisting China Shanshui Cement
China Shanshui Cement Group Ltd said the Hong Kong stock exchange would seek to delist the firm if it was not able to restore a minimum public float of 25 per cent of its issued share capital by the middle of next year. The cement producer has been embroiled in a bitter boardroom battle involving investors and executives, and has been suspended from trading in the past two-and-a-half ye...
Eagle Materials Inc 2Q fiscal 2017 cement volumes rise
Eagle Materials Inc reported that in its financial results for the 2Q fiscal 2017, ended 30 September 2017, cement volumes were up 12 per cent, including the Fairborn business, while the Texas Lehigh cement joint venture volumes were down six per cent. The company also benefitted from cement prices being up seven per cent overall. Second-quarter EBITDA increased five per cent, reflecting th...
Elementia sees 39% rise in 3Q EBITDA
Mexico-based Elementia reported EBITDA of MXN1.296bn (US$67.9m) in 3Q17, an increase of 38.9 per cent YoY. The company attributes the rise in earnings to higher sales and prices in its cement division. The company posted third-quarter revenues of MXN6.555bn, up 40 per cent when compared with the July-September 2016 period. Net income reached MXN340m, swinging the building materials firm ...
Eurocement Group to invest in Kaliningrad plant
Russia’s Eurocement Group is reported to be considering investment in the construction of a new plant in the Danor industrial park, in the Guruyevsky district of the country’s Kaliningrad exclave, according to the Government of the Kaliningrad region. The new cement works is expected to reduce the region’s dependence on cement trucked in from other parts of Russia while making a positive co...
Maple Leaf reports growth in 1QFY18
Maple Leaf Cement Factory Ltd (MLCF) has reported that during 1QFY18 its profit after tax (PAT) stood at PKR1.05bn (US$9.9m), showing a growth of 47 per cent on QoQ basis. MLCF incurred selling and distribution expense of PKR266m and administrative expense of PKR150m during this quarter against PKR373m and PKR122m incurred respectively in 1QFY17.
Fire crews sent to Capitol Cement's San Antonio plant
Capitol Cement's San Antonio plant had 30 fire crews sent to it on the 11500 Bulverde Road, north of Wuzbach Parkway, yesterday morning after a fire broke out inside one of the company's asphalt towers. No workers were injured. The fire was isolated and other areas of the plant were unaffected, but the fire crews had to use large volumes of water because of the type of materials that were b...
Ambuja Cements sees 9.7% net profit rise in 3Q
LafargeHolcim-owned Ambuja Cements' standalone unaudited income remained stable in 3Q17 at INR24.73bn (US$379.8m) when compared with the previous year (3Q16: INR24.72bn) but noted a 25.4 per cent drop when compared with 2Q17, when it reached INR33.16bn. Profit before tax rose 11.3 per cent YoY to INR3.36bn from INR30.02bn but saw a 38.6 per cent decrease QoQ (2Q17: INR5.47bn) while net prof...