Cement News tagged: Corporate
Siam City sees weaker domestic demand
Siam City Cement Co recorded an 80 per cent decline in second-quarter net profit with the fall being attributed to rising costs and weaker demand in its home market of Thailand. Revenue during the 2Q17 rose by 39 per cent to THB10.8bn (US$324.4m) compared to the same period of last year but net profit fell to THB246m from THB1.2bn a year earlier. For the first half of the year, total revenue...
China Resources Cement sees substantial rise in 1H attributable profit
China Resources Cement said its profit attributable to owners for the six months ended 30 June 2017 surged to HKD1639.8m, translating into an increase of over 500 per cent from the comparative period of the previous year. JPMorgan, in its report, considered that the substantial rise was mainly attributed to higher product prices and exchange gain. Turnover amounted to HKD13,188.4m, an i...
Buzzi Unicem’s profit boosted by lower interest costs
Buzzi Unicem's first half turnover improved by 7.3 per cent to EUR1353.8m and EBITDA advanced by 8.4 per cent to EUR241.1m. Group cement deliveries improved by 2.3 per cent to 12.5Mt, while ready-mixed concrete deliveries rose by six per cent to 5.9Mm³. The depreciation and impairment charges advanced by 16.1 per cent to EUR108.6m and the first half trading profit was ahead by 2.8 per cent t...
Vicat suffers from currency weakness in several countries
Vicat's first half turnover edged ahead by 0.8 per cent to EUR1248m, or by 0.9 per cent on a comparative basis, but the EBITDA declined by 8.7 per cent to EUR188m and the margin declined from 16.7 per cent to 15.1 per cent. The trading profit came off by 16.2 per cent to EUR86m, while the net interest charge was 29.9 per cent lower at EUR12.9m, giving a attributable profit 17 per cent lower a...
Northern Region Cement 2Q net profit down 83%
Northern Region Cement Co on Wednesday announced that its net profits fell 83 per cent YoY in the second quarter of 2017. Profits fell to SAR8.26m during the three months ending June 2017, from SAR48.66m in 2Q16, according to a bourse filing. On a sequential basis, net profit was down by 49.8 per cent YoY. The Saudi cement company attributed the decrease in its YoY net profits to the incre...
Martin Marietta modest first half growth
Martin Marietta Materials, one of the top five US aggregates producers, has announced a first half turnover 8.4 per cent ahead at US$1788m while the EBITDA was ahead by five per cent to US$440m. The trading profit improved by 4.7 per cent to US$290m and after a net interest charge that was 11.4 per cent higher at US$44.9m and other items, the pre-tax profit advanced by 4.5 per cent to US$2...
Raysut shareholders agree to sell Oman Portuguese Cement Products
Raysut Cement shareholders have approved a proposal to sell Oman Portuguese Cement Products Co to Opal Development. The decision was taken at an extraordinary general meeting of the company held on 25 July 2017, Raysut Cement said in a disclosure statement posted on the Muscat Securities Market website. Meanwhile, earlier this month, Raysut Cement had announced that its net profit for...
Eastern Province Cement 2Q net profit slides
Saudi-based Eastern Province Cement Co (EPCC) said its net profits slid 25.5 per cent YoY in the second quarter of 2017 due to lower volumes and value of cement sales due to a drop in domestic demand. Net profits stood at SAR35m in 2Q17, compared to SAR47m in 2Q16, according to a statement to the Saudi Stock Exchange. Quarter-on-quarter, net profits retracted 30 per cent. Sales tumbled 23.5 ...
Yanbu 2Q sales hit by weak demand and strong competition
Saudi-based Yanbu Cement Co's second quarter net profit fell by 49.7 per cent YoY, and 35.5 per cent on a sequential basis, according to a bourse filing. The drop in profits is attributed to lower sales, which resulted from a weak demand and fierce competition. Net profit decreased to SAR80m (US$21.3m) in the three months to the end of June 2017 from SAR159m in the same period a year earlie...
Carthage Cement reports 2% rise in 1H turnover
Tunisia-based Carthage Cement increased its cement turnover by two per cent to TND68.022m in the first half of 2017. Domestic market share advanced from 18.55 per cent in June 2016 to 19.41 per cent in June 2017. However, blocked sales to Algeria negatively impacted the results. The company’s ready-mix concrete arm saw its sales slip by two per cent and output by one per cent. Debt i...
Dangote Cement sells 2.3% stake to foreign investors
Nigeria's Dangote Industries Ltd sold a 2.3 per cent stake in Dangote Cement to foreign investors on Tuesday in a stock market deal valued at NGN86.1bn (US$236m), Reuters reported yesterday. Dangote Cement has been selling small stakes to increase its free float. A spokesman for the Nigerian Stock Exchange said 416 million shares of Dangote Cement were sold on Tuesday at NGN210 each in...
Lucky Cement FY17 profit rises 5.78%
Lucky Cement has reported a 5.78 per cent YoY increase in full-year profit of PKR13.69bn (US$129.8m) versus PKR12.94bn in FY16, the company informed the Pakistan Stock Exchange. Gross sales increased to PKR61.6bn during FY17 from PKR 55.92bn in the previous year. The company said it incurred distribution costs of PKR1.703bn and administrative expenses of PKR1.021bn versus PKR2.01bn and PKR1....
Breedon completes acquisition of Humberside Aggregates
Breedon, the UK’s largest independent construction materials group, announced that it has today completed the acquisition of Humberside Aggregates Ltd (Humberside) for a total consideration of GBP9m, subject to completion adjustments. Humberside is a leading independent sand and gravel quarry and aggregates merchanting business based at North Cave near Hull in east Yorkshire, employing arou...
Joan Molins Amat new Cementos Molins President
Spain-based Cementos Molins has appointed Joan Molins Amat as its new President following the passing of Casimiro Molins Ribot on 25 June. Joan Molins Amat was formerly First Vice-President of the company. The Group's Board of Directors assigned Joaquín Molins Gil as First Vice-President and Ana María Molins López-Rodó on his place as Second Vice-President.
Dangote Cement's 1H17 revenues rise by 41%
Dangote Cement has released its 1H17 results, announcing group revenues of NGN412.7bn (US$1.31bn), up 41.2 per cent, and an EBITDA of NGN203.7bn, up 53.7 per cent. In Nigeria total cement demand reached 10.2Mt in January-June 2017, according to Dangote estimates. This represents a 23.2 per cent contraction when compared with 1H16, when demand was estimated at 13.3Mt. Of total market sales in...
Cemex Philippines reports drop in net income
Cemex Philippines saw its net income fall by 69 per cent in the 2Q17 to PHP136.5m (US$270m) from PHP436.1 in the same period of 2016 as demand softened and cement prices eased. In a disclosure to the stock exchange, the company reported a 12 per cent decline in sales to PHP5.6bn, while cost of sales fell three per cent to PHP3.3bn. Gross profit was down 22 per cent to PHP2.3bn. Sales v...