Eagle Materials reports record 2Q volumes
Eagle Materials' first-half turnover to the end of September, including its share of the Texan cement joint venture with HeidelbergCement, increased by 15.2 per cent to US$616.78m.
The trading profit advanced by 22.5 per cent to US$138.32m. After a net interest charge that was 18.4 per cent lower at US$7,95m, the pre-tax profit rose by 26.3 per cent to US$130.36m. The tax charge was 27.5 per cent higher, leaving the net attributable profit 25.7 per cent ahead at US$88.03m.
Net debt declined by 39.5 per cent to US$301.2m at the end of September, compared with 65.26 per cent 12 months earlier.
Turnover from cement was 9.2 per cent higher at US$258.53m. Sales by the wholly-owned operations increased by 6.6 per cent to US$202.81m and the group's share of the Texas Lehigh joint venture improved by 17.8 per cent to US$65.71m. The trading profit improved by 14.6 per cent to US$58.96m as the joint venture in Texas increased its contribution by 24 per cent while the wholly-owned businesses reported a 9.7 per cent improvement to US$37.11m.
Group cement deliveries were 3.4 per cent higher at 2.51Mt (2.77Mst), with the Buda joint venture's volumes growing by 10.3 per cent while the wholly-owned tonnage was just 1.9 per cent ahead at 2Mt. The average cement price improved by 5.5 per cent to US$99.67/t (US$90.42/st).
Turnover from aggregates and ready-mixed concrete increased by 9.9 per cent to US$57.61m and the trading profit jumped by 121.1 per cent to US$4.32m. The aggregates tonnage declined by 10.9 per cent to 1.53Mt (1.69Mst), with the average price being 12.1 per cent higher at US$8.89/t. Ready-mixed concrete deliveries advanced by 5.9 per cent to 0.4Mm³ and the average price improved by 6.3 per cent to US$66.36/m3.
The turnover in the plasterboard and related activities improved by 14.5 per cent to US$269.05m while the trading profit rose by 24.7 per cent to US$90m. Plasterboard deliveries improved by 4.6 per cent and the average plasterboard price improved by 10.9 per cent.
