Cement News tagged under: corporate
SCCC results hurt by weaker domestic demand, higher SG&A expenses31 October 2014, Published under Cement NewsSiam City Cement (SCCC), Thailand’s second-largest cement producer, posted a 3Q14 net profit of THB1.06bn (US$33m), down 13 per cent YoY and 29 per cent QoQ hurt in part by weaker domestic demand as well as higher Selling, General & Administrative (SG&A) expenses. The weak results are due mainly to weak domestic demand but this was partly mitigated by increased exports following the reopening of its kiln Line 1, 2) lower gross margins, from 45.6 per cent in 3Q13 to 43.9 per cent, mainly d... |
Pakistan: Lucky Cement first-quarter profit up 4.8%31 October 2014, Published under Cement NewsLucky Cement Ltd, Pakistan’s leading cement producer, saw a 4.8 per cent rise in net profit for the first quarter of the current Pakistan fiscal to PKR2.669bn (US$26m). Earnings per share (EPS) during the July-September 2014 period increased to PKR8.25 against PKR7.87 in the corresponding period last year. Gross profit increased by 5.9 per cent during the quarter as its net sales revenue improved by 12.2 per cent to PKR10.470bn against PKR9.332bn of the corresponding period last year. Loca... |
Dangote Cement30 October 2014, Published under Cement NewsThe growth of Dangote Cement continues apace with plans to invest an undisclosed amount in the Mbinga coal mine in west Tanzania being announced last week. On the back of a surge in cement demand, Dangote is currently constructing a 3Mta cement plant in Mtwara, Tanzania, which once completed will be powered by the Mbinga mine. Excess coal will reportedly be sold to finance cement exports from Tanzania. Dangote has also been given the go-ahead for a 27ha pozzolan quarry in Tombel in south-... |
Cementos Argos30 October 2014, Published under Cement NewsCementos Argos is investing US$450m in a new production line at its Sogamoso plant in Colombia. The line, which will have a production capacity of 2.3Mta, will boost Argos’ total capacity in the country to 11.8Mta. Designed to meet the strictest environmental standards, it will consume 24 per cent less water and 18 per cent less fuel than standard plants, as well as having a 40 per cent AF substitution rate. Argos is also constructing a new Innovation Center in Medellín, Colombia, on the ... |
Holcim and Cemex sign binding agreements on European transactions30 October 2014, Published under Cement NewsHolcim and Cemex have signed binding agreements regarding the series of transactions in Europe originally announced last year. The main scope of the transactions in Germany and the Czech Republic remain unchanged, but the structure in Spain has been adapted with a joint organisation in the country no longer part of the deal. In accordance with the proposals, first made public on 28 August 2013, Cemex will acquire all of Holcim’s assets in the Czech Republic. In Germany, Holcim will continue... |
Lafarge Africa 9M14 pretax profit drops 41.2%30 October 2014, Published under Cement NewsLafarge Africa said its pretax profit for the first nine months of this year dropped by 41.2 per cent YoY to NGN38.08bn (US$231m). Revenue, however, rose to NGN159.39bn from NGN154.78bn previously, the company said in a filing with the Nigerian stock exchange. |
Cementos Argos 3Q14 net profit jumps 69%29 October 2014, Published under Cement NewsCementos Argos, Colombia’s leading cement producer, posted a 69 per cent jump in net earnings for the first nine months of the year to COP217.5bn (US$111m), boosted by higher US sales. The company reported EBITDA of COP805bn (US$415m) between January and September, an eight per cent increase over the same period in 2013. Revenue was up 16 per cent to COP4.25trn. "The performance in the United States maintains a healthy growth dynamic," the statement said. "Volumes of cement and concrete sh... |
Fauji Cement first-quarter profit edges ahead29 October 2014, Published under Cement NewsPakistan-based producer Fauji Cement on Tuesday announced a net profit of PKR602m (US$5.8m) during the first quarter (Jul-Sep) of the current fiscal, up three per cent YoY. Earnings per share increased to PKR0.45 from an EPS of PKR0.44 during the period under review. Earnings surged by 50 per cent QoQ because of the absence of a preferred dividend, which was recorded at PKR273m during the fourth quarter of FY14 and a lower tax rate of 32 per cent (versus 54 per cent in 4QFY14). Revenue... |
Eagle Materials reports record 2Q volumes29 October 2014, Published under Cement NewsEagle 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 decl... |
Siam Cement 3Q net profit down 20% YoY29 October 2014, Published under Cement NewsSiam Cement said on Wednesday its third-quarter net profit dropped 20 per cent YoY due to weak demand for construction materials. Thailand’s largest industrial conglomerate posted July-September net profit of THB7.85bn (US$241.7m). This compared with THB9.79bn a year earlier when the company booked a gain of THB1.5bn. Analysts at Krungsri Securities expect the slowdown to continue through the final three months of the year stating: "The declining trend will likely continue into the fourth ... |