Cement News tagged under: Results
Saudi Cement net profit down 37%15 May 2017, Published under Cement NewsSaudi Cement has registered a 37 per cent drop in its net profit for the first quarter of SAR165m (US$44m) versus SAR265m (US$70.5m) attributed to lower volumes and selling prices amid slugglish demand. Despite weaker volumes, helped by locational advantage, the company's average realised price marginally declined by three per cent YoY and was down two per cent QoQ, as compared to deep discounts offered by other cement companies, according to Al Rajhi Capital report. Saudi Cement's gro... |
National Cement post 1Q loss15 May 2017, Published under Cement NewsNational Cement Co of Egypt reported losses of EGP40.4m (US$2.2m) in the first quarter of fiscal year 2016-17 against profits of EGP19.7m for the same period that year before, as shown by the company’s unaudited financial statements. The rise in losses between July and September 2016 is attributed to the increase in provisions by EGP37.2m, according to the company’s statement to the Egyptian Exchange (EGX) on Sunday. |
Cementos Argos 1Q revenues impacted by Colombia12 May 2017, Published under Cement NewsCementos Argos posted a 6.1 per cent decline in consolidated revenues for the first three months of the year, citing a challenging first quarter affected mainly by Colombia. Over 70 per cent of revenues and EBITDA came from operations outside of Colombia. The US continues to be its main market in terms of revenues, cement and ready-mix volumes. For the first time, the Caribbean and Central America group region was the leading contributor to EBITDA accounting for 43 per cent. Cement vo... |
Raysut Cement Co net profit down 62%12 May 2017, Published under Cement NewsRaysut Cement Co reported a 61.76 per cent decline in its net profit in 1Q17 impacted by lower sales volume and increased tax rate, according to its quarterly report submitted to the Muscat Securities Market on Tuesday. Group net profit fell to OMR3.09m versus OMR8.08m in the same period a year earlier. The decline was attributed to a significant increase in the cost of electricity, lower sales volumes and an increased tax rate from 12 to 15 per cent, the Muscat Daily reported. During ... |
Titan 1Q results driven by US market11 May 2017, Published under Cement NewsFinancial results for Titan Group in the first quarter of 2017 recorded an improvement, primarily due to the continued recovery of the US market. All geographic regions where the group operates recorded higher sales volumes with the exception of Greece, where demand remains stagnant at low levels. Consolidated turnover was EUR361.8m posting a 7.1 per cent increase compared to the 1Q16. EBITDA increased by 18 per cent reaching EUR51.1m. The net result after minority interests and the provi... |
Tabuk Cement profit down11 May 2017, Published under Cement NewsTabuk Cement on Wednesday announced a 59.2 per cent decrease in net profit during the first quarter of 2017, compared to the same quarter last year, according to a bourse filing. Net profits fell to SAR8.7m (US$2.3m) in 1Q17, compared to SAR21.3m in 1Q16. The company attributed the YoY profit fall in 1Q17 to a decline in the amounts and value of sales and higher financial costs. Tabuk Cement’s sales amounted to SAR57.5m in the period between January and March, compared to SAR75.5m i... |
HeidelbergCement's 1Q sales volumes boosted by Italcementi acquisition10 May 2017, Published under Cement NewsIn the first quarter, the sales volumes of HeidelbergCement’s building materials rose substantially as a result of the consolidation of Italcementi. The continued recovery of the construction industry in North America and Europe also had a positive impact on the development of sales volumes. In contrast, development in the emerging countries was mixed. In the first quarter, the group’s cement and clinker sales volumes increased by 58 per cent to 27.8Mt (previous year: 17.6Mt) as a result o... |
FLSmidth sees strong momentum in service activities continue in 1Q10 May 2017, Published under Cement NewsFLSmidth achieved its highest quarterly order intake from total service activities since 2012 reporting strong moment continued into the first quarter of this year. "The growing momentum in the global economy is filtering through to FLSmidth's service business, while demand for equipment and projects remains largely unaffected. Based on our extensive knowledge from projects, products, and services, we continue to improve our competitive edge and assist our customers in their pursuit of en... |
Southern Province sees 63% drop in 1Q profit10 May 2017, Published under Cement NewsSaudi-based Southern Province Cement Co reported a 62.9 per cent drop in profits for the first quarter of 2017, compared to the same period of the previous year, while QoQ profits declined 30.9 per cent. Profits stood at SAR105m (US$28m) in 1Q17, compared to SAR283m in 1Q16, according to a filing to the Saudi Stock Exchange. The company attributed the decrease in profits to a drop in sales as a result of lower demand and lower selling prices given competition in the market. Sales dec... |
Orient Cement sees pick up in volumes10 May 2017, Published under Cement NewsIndia's Orient Cement saw an improvement in fourth-quarter volumes but reported a 10.55 per cent decline in net profit due to the full extent of finance costs and depreciation. The CK Birla Group firm said total income increased by 36.98 per cent to INR6.957bn (US$107.6m) during the quarter under review. "The company has reported volume growth of 25 per cent over the corresponding quarter last year on account of increasing volumes across all its areas of operation," it said in a statement.... |