Cement News tagged under: Results
QNCC nine-month net profit ahead27 October 2014, Published under Cement NewsQatar National Cement Company (QNCC) net profit rose to QAR332m (US$91.2m) in the first nine months of 2014, up 3.1 per cent from the QAR322m posted a year earlier. Earnings per share (EPS) rose to QAR 6.76 from QAR 6.56. Total assets at end-2014 increased to QAR2.85bn from QAR2.78bn at the beginning of the year. |
Saudi Arabia: strong annual 3Q gains for Yanbu despite weak start17 October 2014, Published under Cement NewsYanbu Cement reported a 16.4 per cent rise in third-quarter net profit to SAR163m (US$43.4m), driven by lower cost of sales due to increased production and the government's subsidy on imported clinker. The result was well ahead of estimates by Al-Rahji Capital who forecast net profit of SAR131m for the three month period (consensus: SAR149m). Yanbu's robust performance came as a surprise to Al-Rahji analysts given that the cement producer's sales decided by eight per cent YoY in the first ... |
Siam Cement 3Q earnings’ outlook16 October 2014, Published under Cement NewsSiam Cement is expected to post a weak net profit for the third quarter of 2014, down 29 per cent YoY and 18 per cent QoQ, according to analysts at SCB Securities. The YoY drop reflects: no extra gain from the revaluation of its investment of THBt1.7bn as in 3Q13, the absence of 3Q13's THB840m inventory gain from its chemical unit and a slight decline in contribution from cement and building materials (lower sales volume) and paper (maintenance shutdown) units. The QoQ fall comes primaril... |
Oman Cement nine-month net profit declines15 October 2014, Published under Cement NewsOman Cement Co (OCC) made a net profit of OMR11.4m in the first nine months of 2014, down 8.1 per cent from OMR12.4m in the same period last year, the producer said in a bourse statement on Tuesday. In third quarter alone, the company saw a decline in net profit compared to the same period of last year, according to Reuters calculations. OCC posted a profit after tax of OMR2.3m (US$6m) in the three months to 30 September, versus OMR3.8m in 3Q13, Reuters calculated based on financial stateme... |
Yanbu Cement 3Q profit up 16.4%, Saudi Arabia15 October 2014, Published under Cement NewsSaudi-based Yanbu Cement net earnings grew by 16.43 per cent YoY in the third quarter of 2014 to SAR163m, but declined by 32.37 per cent compared to 2Q14. The company said the third quarter annual increase was was due to the lower cost of sales due on the back of a boost in production and receipt of a clinker import subsidy. The company attributed the QoQ decline to lower sales due to the Ramadan and Eid al-Fitr holiday. Earnings for the first nine months of the year declined by 7.87 pe... |
Hoang Mai Cement expects revenue at US$80m this year10 October 2014, Published under Cement NewsHoang Mai Cement JSC (HOM), an affiliate of Vietnam Cement Industry Corporation (Vicem), forecast its net revenue at VND1.7trn (US$80m) and pretax profit at VND45bn, thank to a rebound in demand of cement in the local market. The projection was made by Truong Quoc Huy, director of HOM in a report posted on a website under the Ministry of Construction. In 2014, the company’s total cement sales are forecast to hit 1.7Mt and clinker sales are predicted at 81,000t, versus respective 1.24Mt of ... |
Egypt: National Cement swings to full-year loss03 October 2014, Published under Cement NewsNational Cement Co swung to a net loss of EGP138.4m (US$19.35m) in the fiscal year ended 30 June 2014 from a net profit of EGP93.5m for the year-earlier period. The pretax loss for the reported 12 months amounted to EGP135.5m, versus a pretax profit of EGP93.31m. The Egypt-based producer attributed the sharp negative change in its financial performance to two main factors: lower production costs of its competitors and discounts prices amid fierce market competition. |
South Valley Cement 1H net profit reaches EGP64.9m25 September 2014, Published under Cement NewsEgyptian cement producer South Valley Cement Co said yesterday its first-half net profit increased to EGP64.9m (US$9.07m). In the comparative period of the previous year, the company’s net profit stood at EGP 57.8m. |
DG Khan full-year profit up 8% YoY18 September 2014, Published under Cement NewsPakistan-based producer DG Khan reported an eight per cent YoY rise net profit to PKR5.96bn (US$58m) for the full fiscal year ending 30 June 2014. The increase in earnings was primarily supported by lower distribution costs and financial charges, according to Global Research. Revenues rose by seven per cent to PKR26.54bn as prices rose 12 per cent YoY to PKR506/bag despite a decline in sales volumes to 3.96Mt. Despite the higher cement prices, the company’s margins declined by two p... |
CCNN first-half net income boosted by cost cuts, Nigeria08 September 2014, Published under Cement NewsThe Cement Company of Northern Nigeria (CCNN) achieved a 91 per cent increase in profit for the first six months of the year helped by a reduction in operating and financing costs. For the first six months to the end of June, the Sokoto-based company’s net profit climbed to NGN1.58bn from NGN832.2m in the same period of last year. The rise is attributed cost control measures as distribution and administrative expenses fell by 44 per cent to NGN1.32bn in 1H14 from NGN2.34bn versus 1H13. Si... |