Cement News tagged under: Quarterly Results
Indonesia: Indocement hopes for strong consumption growth11 May 2016, Published under Cement NewsIndocement Tunggal Prakarsa President Director, Christian Kartawijaya, has predicted that cement consumption in Indonesia could grow by 3-5 per cent in 2016, having grown by 3.4 per cent in 2015. According to the Jakarta Post, Mr Kartawijaya highlighted government investment in infrastructure and falling interest rates as the key drivers of higher demand. The Indonesian government has allocated IDR313.5trn (US$23.51bn) to infrastructure projects in 2016, up eight per cent on the previo... |
Pakistan: Bestway Cement pretax profits up 45%09 May 2016, Published under Cement NewsIn an earnings statement released today, Bestway Cement announced that its pretax profits for 9MFY2016 were PKR12.64bn (US$121m), up 45 per cent on the same period last year. After tax, the firm’s profits were up 49 per cent, to PKR9.24bn (US$88m). According to a report in the Nation, Bestway’s turnover rose by over 49 per cent to PKR32.91bn (US$314m). The scale of the increase was attributed to Bestway’s acquisition of Pakcem and increasing domestic demand. This was offset to a degree... |
India: Birla sees Q4 profit rise to US$17m09 May 2016, Published under Cement NewsBirla Corporation has released its earnings figures for the three months to 31 March 2016, during which time the firm achieved a profit of INR1.16bn (US$17.4m), up fourfold on a year earlier, the Hindu reports. Revenue for the quarter rose by nine per cent to INR8.7bn (US$131m). Full-year earnings saw total income rise by two per cent to INR32.7bn (US$492m), while profits were down 10.3 per cent at INR1.57bn (US$24m). Chairman, H V Lodha, said that both the cement and jute divisions pe... |
Pakistan: Bestway Cement profit up 48% for 9MFY201606 May 2016, Published under Cement NewsBestway Cement has announced after tax profits of PKR7.45bn (US$71m) in the nine month period to 31 March 2016, a 34 per cent increase YoY. Total sales rose to PKR24.42bn (US$233m) – an increase of 11 per cent YoY. Profits rose on the back of lower administrative and distribution costs, which fell by 2.4 per cent and 17.3 per cent respectively to PKR289m (US$2.8m) and PKR439m (US$4.2m). Finance costs increased sharply to PKR1.3bn (US$12.4m). Bestway’s sister concern, Pakcem Ltd, also e... |
HeidelbergCement sees losses shrink in 1Q1604 May 2016, Published under Cement NewsHeidelbergCement's cement sales volume rose five per cent YoY for the period from January to March 2016, reaching 17.6Mt for the quarter. According to results released by the company, sales of aggregates also rose, while ready-mix volumes were flat and those of asphalt were down by 12 per cent. Overall, revenue for the period was unchanged on the previous year at EUR2.83bn (US$3.26bn). Operating income before depreciation was up 13 per cent in like-for-like terms at EUR321m (US$369m), whi... |
India: UltraTech’s profits rise to US$109m for 1Q1629 April 2016, Published under Cement NewsUltraTech Cement’s quarterly earnings statement for 1Q2016 show consolidated net profit growth of 10 per cent reaching INR7.23bn (US$109m) for the year to March, according to a report in Mint. Capacity utilisation was also higher in 1Q2016, rising by five per cent to 84 per cent. Volume sales rose by 15 per cent YoY, but revenues increased more slowly – by five per cent – due to declining prices. UltraTech’s EBITDA grew by just three per cent YoY despite improvements in cost efficiencies.... |
Lafarge Africa posts US$9.5m quarterly loss as price squeeze bites29 April 2016, Published under Cement NewsNigerian-based Lafarge Africa has seen revenues fall by 29 per cent to NGN52.4bn (US$263m) in the first quarter of 2016, leading the company to record an after-tax loss of NGN1.9bn (US$9.5m). According to Bloomberg, Lafarge – which did not comment on the results – had said late last year that pressure on prices and a market slowdown were presenting challenging trading conditions in Nigeria and other African countries. Lanre Buluro, an equity broker and analyst with Primera Africa Secur... |
Vicat sees 1Q16 revenues reach EUR554m28 April 2016, Published under Cement NewsIn their quarterly statement for 1Q16, Vicat announced that turnover improved by 3.3 per cent YoY to EUR554m (US$629m), which represents an underlying advance of 6.5 per cent. Cement turnover was up by 1.5 per cent to EUR346m (US$392m), as cement shipments rose by 13.8 per cent to 4.83Mt. The turnover in concrete and aggregates was 7.7 per cent ahead at EUR204m (US$231m), which represents an underlying advance of 9.1 per cent, as aggregates shipments rose by 15.2 per cent to 4.83Mt and re... |
CRH 1H16 earnings to reach US$1.1bn driven by US and Asian markets27 April 2016, Published under Cement NewsIn its earnings statement for 1Q2016, CRH predicts that EBITDA will rise to EUR1bn (US$1.1bn) driven by growth in the United States and the Philippines. This is around five per cent up on last year, with the final figure to be announced when 1H2016 results are published on 25 August. Sales for 1Q2016 itself are up nine per cent YoY, with US sales up by 22 per cent and Asian sales up 12 per cent. European markets were reported to be flat. Some EUR85m (US$96m) was spent on acquisitions ... |
Dangote: 1Q2016 profits down 22% as volumes rise 70%26 April 2016, Published under Cement NewsDangote Cement has released its results for the year to March 31 2016. During this period volume sales grew 69.6 per cent to 6.4Mt, while profits slipped from NGN70bn (US$352m) to NGN55bn (US$276m). Price cuts in Dangote’s Nigerian home market meant that even as volumes climbed 45 per cent to 4.5Mt revenues increased more slowly, rising by 5.7 per cent to NGN107bn (US$538m). The firm estimates that its market share in the period was 66 per cent. Volume growth in other west and central ... |