Cement News tagged under: corporate
HeidelbergCement Bangladesh sees rising sales cost in 9M2226 October 2022, Published under Cement NewsHeidelbergCement Bangladesh Ltd, owned by HeidelbergMaterials, announced its financial results for the 9M22 period on 18 October. It posted a loss of BDT241.3m (US$2.3m0 during this period compared to the profit of BDT558.5m earned in the corresponding period in the last year, according to the company’s regulatory filing to the local bourse. The company's net sales/revenue increased by 1.1 per cent to BDT12.80bn, but the cost of sales also increased to BDT12.22bn from BDT11.09bn ... |
Eastern Province Cement sees revenue fall 11% YoY in 9M2226 October 2022, Published under Cement NewsSaudi Arabia’s Eastern Province Cement Co (EPCCO) has posted revenue of SAR531m (US$141.6m) in the first nine months of 2022, down 11.3 per cent on the SAR598.5m seen in the same period a year earlier. Net profit after zakat and tax over the same timeframe fell 42.8 per cent from SAR159m to SAR91m. The fall in profit was attributed to lower cement sales, higher selling, general and administrative expenses, along with a decline in the share of profit of associates, according to the compa... |
Sika requests "fast track" remedy from CMA26 October 2022, Published under Cement NewsSika AG and MBCC Group have asked the UK’s Competition & Markets Authority (CMA) to consider a “fast-track” remedy to address concerns that their merger could harm the construction industry in the UK. In November 2021 Swiss firm Sika agreed to buy the German-based MBCC Group in a GBP4.5bn (US$5.1bn) deal. Sika and MBCC are the two largest UK suppliers of chemical admixtures used in the production of cement. Together they account for over half of the UK supply. Following an initial Phase ... |
Obajana to reopen, Kogi State Government to court25 October 2022, Published under Cement NewsAn agreement has been reached between Kogi State Government and Dangote Group to reopen the Obajana cement plant in Nigeria. Minister of Police Affairs, Mohammed Dingyadi, disclosed this to State House correspondents after the National Security Council meeting presided over by President Muhammadu Buhari at the Presidential Villa in Abuja yesterday. “Government is committed to the provision of employment to its citizens rather than closing factories that will make people unemployed and... |
Fauji Cement revenue up 27% YoY25 October 2022, Published under Cement NewsPakistan-based Fauji Cement Co Ltd (FCCL) has posted consolidated revenue of PKR14,700m (US$66.7m) in the quarter ended 30 September 2022. This compares to PKR11,577m in the same period a year earlier, marking a 27 per cent YoY improvement. Operating profit over the same timeframe has risen from PKR2859m to PKR3555m, while profit before tax has advanced from PKR2766m to PKR3315m. Earnings per share have improved from PKR0.97 in the quarter ended 30 September 2021 to PKR1.06 in the same ... |
Asian Paints enters JV for new white cement plant25 October 2022, Published under Cement NewsAsian Paints is joining forces with Riddhi Siddhi Crusher & Land Transport, based in Fujairah, and Associated Soap Stone Distributing Co Pvt Ltd (ASSD) to set up a white cement and clinker plant in Fujairah, UAE. The joint venture will be a 60:40 partnership between Asian Paints and Riddhi Siddhi & ASSD, according to Coatings World. The initial capacity of the new facility will be 265,000tpa with additional grinding units to be set up in India as well. The JV involves an overall investment o... |
Usje posts 41% net profit drop in 9M2224 October 2022, Published under Cement NewsCementarnica Usje , the North Macedonian subsidiary of Titan, reported a drop in net profit by 41 per cent to MKD621.2m (US$9.9m) in the first nine months of 2022 when compared with the year-ago period. The company’s operating expenses increased 46 per cent YoY to MKD4.1bn in the 9M22 on the back of higher material costs, which were up 78 per cent to MKD2.5bn. Operating revenue expanded by 22 per cent YoY to MKD4.8bn with domestic sales increasing 24 per cent YoY to MKD3.1bn and exports ... |
SDCC profit hampered by fuel costs in 2QFY22-2324 October 2022, Published under Cement NewsIndia-based Shree Digvijay Cement Co Ltd (SDCC) has reported revenue from operations of INR1620.1m (US$19.6m) in the quarter ended 30 September 2022 (2QFY23), compared to INR1538.8m in the same period a year earlier. Over the same timeframe, EBITDA fell from INR285.2m to INR171.7m, while profit after tax tumbled from INR134m to INR59.6m. In the 2QFY22-23, power and fuel expenses stood at INR819.1m, compared to INR448.5m in the same period a year earlier. “Despite a very challenging quar... |
Ambuja Cements posts 68% decline in profit in 3QFY2324 October 2022, Published under Cement NewsAmbuja Cements has posted a 68 per cent fall in standalone net profit in the 3QFY23 ended 30 September 2022. According to Mint, net profit for the three-month period came in at INR1380m (US$16.67m), compared to INR4410m in the same period last year. Net sales advanced by 14 per cent from INR31,930m to INR36,310m. EBITDA in the 3QFY23 came in at INR3040m, significantly impacted by the rise in fuel costs. Volumes saw growth of 12 per cent, while logistics costs saw a notable reduction dri... |
Continental Cement produces lowest carbon PLC to date24 October 2022, Published under Cement NewsContinental Cement Company LLC , a subsidiary of Summit Materials , has produced a 20 per cent Portland limestone cement (PLC), the lowest carbon PLC to date, as part of a research project for the Minnesota Department of Transportation (MnDOT) and the National Road Research Alliance. The research project evaluated the performance of low carbon cement products for use in future transportation infrastructure procurement and material selection to reduce overall environmental impacts. PLC ... |