Cement News tagged under: Results
Summit Materials reports rise in 2Q net income23 August 2017, Published under Cement NewsSummit Materials reported a 15.9 per cent YoY rise in 2Q17 net revenue to US$478.4m, primarily attributable to acquisition-related contributions, increased organic sales volumes across all lines of business, together with improved organic average selling prices in cement and ready-mix concrete. Operating income increased by 75.6 per cent to US$82.4m in the second quarter 2017, when compared to the prior year period. Adjusted EBITDA increased 17.9 per cent YoY to US$135.2m, versus US$114.7... |
Thatta FY16-17 performance hit by higher costs23 August 2017, Published under Cement NewsPakistan producer Thatta Cement Co reported a 5.4 per cent decline in net profit to PKR614.43m (US$5.8m) for FY16-17. Net sales rose increased by 28 per cent YoY to PKR3.656bn versus PKR2.846bn a year earlier. However, the company incurred selling and distribution costs of PKR101.03m and administrative expenses of PKR148.31m, representing increases of 41 and 30 per cent, respectively. Thatta Cement is in the process of establishing a 5MW waste heat recovery plant at its 0.49Mta cemen... |
Anhui Conch Cement Co revenue up 33.1%22 August 2017, Published under Cement NewsAnhui Conch Cement Co Ltd said revenue for the first six months ended 30 June 2017 increased by approximately 33.1 per cent YoY to CNY31,907.92m (US$4794m). Profit attributable to equity shareholders amounted to CNY6.7bn, representing an increase of approximately 100.64 per cent over the corresponding period of last year. The company attributed the boost to a ‘significant’ increase in prices and continued discipline with production and operation costs. During the period the group real... |
West China Cement sees improved operating environment17 August 2017, Published under Cement NewsWest China Cement Ltd and its subsidiaries reported on an improving operating environment in the first half of 2017 with sales volumes in the Shaanxi province remaining stable while volumes in the Xinjiang and Guizhou provinces registering slight increases. Total group sales volumes of cement and clinker were 8.76Mt, up from the 8.39Mt recorded in 1H16. group’s capacity as at 30 June 2017 has reached 29.2Mt of cement. The group said it has maintained a strong market position in its s... |
KHD reports considerable rise in 1H order intake15 August 2017, Published under Cement NewsKHD reported an increase in order intake to EUR79.3m in the first half of 2017, considerably higher than the EUR19.3m in the same period of last year. The company’s order backlog increased for the first time since the 2012 financial year. Revenue in the first half fell by 26.9 per cent to EUR48.7m due to the low order intake at the beginning of the financial year. Significant contributions to revenue came primarily from projects in India and North America. Orders of EUR60.8m were place... |
Suez Cement reports 2Q loss15 August 2017, Published under Cement NewsEgypt-based Suez Cement reported losses during the second quarter of 2017 YoY, according to a bourse filing on Monday. Losses amounted to EGP82.15m (US$4.6m) in 2Q17, versus profits of EGP49.43m in 2Q16. The cost of sales rose to EGP1.48bn in 2Q17, compared to EGP1.19bn YoY. In the first half of 2017, consolidated losses reached EGP40.61m, versus profits of EGP53.76m in 1H16, taking minority rights into consideration. Stand-alone profits dropped to EGP20.82m in 1H17 from EGP124... |
Magnesita's first-half revenue rises 14%15 August 2017, Published under Cement NewsMagnesita Refratários SA, a global leader in refractory solutions and industrial minerals, recorded consolidated net revenue of US$552m in the first half of 2017, representing a 14 per cent YoY increase over the comparative period of 2016. Adjusted EBITDA reached US$91m in the 1H17, up by 13 per cent over 1H16, with a 16.5 per cent margin in the period. The performance was mainly driven by the 10.3 per cent increase in sales to the steel industry. Record in dead burnt magnesia sales, whic... |
Argos sees challenges at home14 August 2017, Published under Cement NewsCementos Argos announced a net income of COP48bn (US$16m) for the second quarter of 2017 as the US and central America/Caribbean helped to mitigate challenging dynamics in its home market of Colombia. Revenues were down by 1.6 per cent YoY and EBITDA fell by 15.9 per cent YoY to COP367bn. The US was the main contributor to both revenues (54 per cent) and EBITDA (47 per cent). Consolidated cement volumes increased by 17.9 per cent in the second quarter of 2017 to 4.1Mt. “The ... |
Fujairah Cement Industries reports 2Q decline14 August 2017, Published under Cement NewsUAE-based Fujairah Cement Industries Co posted a decline in its profits during the second quarter of 2017, according to a bourse statement. Net profits reached AED8.3m (US$2.26m) in 2Q17, compared to AED16.50m (US$4.5m) in 2Q16. The profit decline is mainly attributed to a decrease in its revenues by 16 per cent to AED138.03m in 2Q17 from AED164.20m in 2Q16. In 1H17 profits retreated 37.20 per cent to AED20.88m from AED33.25m in 1H16. |
Saudi's subdued second quarter11 August 2017, Published under Cement NewsThe Saudi Arabian cement industry is continuing to face headwinds with domestic producers reporting a tough second quarter amid the dual impact of lower cement demand and Ramadan season as well as weak price realisation. Welcome relief has come in the form of an increase in July sales and the potential effect of the government's decision to reduce cement export fees by half. Saudi cement producers reported subdued second quarter earnings as the industry has been affected by falling cement ... |