Cement News tagged under: South Africa
Dangote's 1H20 results see 2% revenue growth27 July 2020, Published under Cement NewsDangote Cement reported group revenue up two per cent to NGN476.9bn (US$1.23bn) in the 1H20. Group EBITDA rose to NGN218.1bn and pan-African EBITDA increased by 31.6 per cent to NGN31.5bn. Profit before tax was up 4.7 per cent to NGN162.9bn and net debt stood at NGN372.1bn at the end of 30 June 2020. Michel Puchercos, Group CEO, said: "I am humbled by the fact that we continue to be in a strong position despite the economic downturn that the world is facing due to COVID-19. Although April ... |
South African cement sector is operating in survival mode13 July 2020, Published under Cement NewsBheki Mthembu, head of the inland business unit of PPC, says the lack of large-scale construction projects in South Africa has left cement producers heavily dependent on residential construction. "The sector has had issues for a while and government needs to support us through infrastructure maintenance and other projects. We were in survival mode and COVID-19 almost served as the final nail in the coffin," said Bheki Mthembu. "There is a very small piece of cake that everyone ... |
Lafarge Cement Zimbabwe sees revenue advance 104%07 July 2020, Published under Cement NewsLafarge Cement Zimbabwe saw its profit for 2019 rise to US$178m, while volumes remained flat YoY at 323,000t. Gross profit increased 251 per cent to US$496m from US$141m in 2018. Kumbirai Katsande, chairman of the company, attributed the improved margins to agile pricing and disciplined cost management. The company saw its revenue advance 104 per cent YoY to US$919m in 2019, compared to US$449m in the previous year. It also started the implementation of a US$25m capex programme, which wil... |
PIC reduces shareholding in PPC12 June 2020, Published under Cement NewsPPC's largest shareholder, Public Investment Corp (PIC) has reduced its shareholding in the South African cement producer from 25 to 19.92 per cent. "The PIC’s disposal of shares in PPC on 28 May 2020 is part of rebalancing its listed investment portfolio in the ordinary course of the PIC’s business," said Deon Botha, the head of corporate affairs at the asset manager. PPC is in the process of finalising its results for the year-ended 31 March 2020. Due to the restrictions placed on the gr... |
African cement escapes the pandemic; structural issues remain05 June 2020, Published under Cement NewsCemtech's latest webinar discussed Africa's cement sector and the impact of COVID-19 on the continent. Tony Hadley of consultancy THAA, and Erkam Kocakerim, CEO of Limak Afrika SA, covered several areas of concern from the impact of the COVID-19 pandemic on economies and cement demand to overcapacity and competition issues, while also providing a long-term outlook for the continent. Thomas Armstrong, Managing Editor of International Cement Review, opened the webinar with an overview of the ... |
AfriSam now permitted to supply certain customers15 May 2020, Published under Cement NewsAs South Africa has lowered its national coronavirus lockdown to Level 4, the supply of cement and other construction materials can now reach specific markets, according to Engineering News. "With the lowering . . . to Alert Level 4, the new regulations permit AfriSam to resume some of its production and to supply certain customers," said AfriSam sales and marketing executive, Richard Tomes. AfriSam is now reportedly set to supply cement, aggregates and ready-mix to permitted Level 4 cus... |
PPC announces operational update for April04 May 2020, Published under Cement NewsPPC has released an update for its African operations during April. PPC Barnet in the DRC has been able to continue to operate and is expected to produce similar volumes compared to the same period last year. Cimerwa and PPC Zimbabwe have also partially resumed operations in Rwanda and Zimbabwe, respectively, in the second half of April. Cement sales volumes in these countries are expected to be around 15-20 per cent of the volumes sold in April 2019. Overall sales volumes in South Africa ... |
NPC goes into lockdown to stop spread of coronavirus27 March 2020, Published under Cement NewsSouth Africa-based NPC, part of the InterCement group, has announced the shutdown of its industrial operations and commercial activities following the 21-day complete country lockdown announced by the country’s government to halt the spread of COVID-19. The company expressed in a letter its support for the government’s actions and encouraged the community to follow the lockdown rules and was confident it would overcome the challenge together. NPC operates 1.8Mta of cement capacity in a... |
Sephaku Holdings reappoints executive director25 March 2020, Published under Cement NewsSouth Africa’s Sephaku Holdings has announced that Kenneth Capes has been re-appointed as an executive director and CEO of Métier Mixed Concrete Proprietary Ltd, with effect from 1 April 2020. Mr Capes’ experience spans the manufacture of ready-mixed concrete to quarrying. He first joined the company’s board as an executive director in 2013, as part of the founding owners of Métier following its acquisition in the first quarter of 2013. “The board welcomes the appointment of Kenneth as an... |
AfriSam call for fair market conditions over imports23 March 2020, Published under Cement NewsSpeaking after AfriSam’s Annual National Budget breakfast event held in Sandton recently, AfriSam CEO, Rob Wessels emphasised the need for fair competition in the cement sector. He said industry was engaging government and trade authorities to ensure fair conditions over the import of cement, including the enforcement of existing port tariffs for these goods. "For a number of reasons, South Africa is unfortunately de-industrialising its economy," Mr Wessels said. "As committed corporate ... |