Cement News tagged under: business results
Dewan Cement posts losses in FY1925 September 2019, Published under Cement NewsDewan Cement Ltd (DCL) of Pakistan has announced its financial results for FY19 today. DCL incurred a net loss of PKR275m (US$17,608) as compared to profit of PKR902m earned in the same period last year. Apparently, decline in sales and increase in taxes, induced the profit to fall during the reporting period. DCL incurred a lesser distribution cost to PKR139m against PKR156m experienced in the same period last year. However, the administrative cost was increased to PKR701m in FY19 from PK... |
Thatta Cement profit falls by 40% in FY1924 September 2019, Published under Cement NewsThatta Cement Co Ltd (THCCL) of Pakistan has announced its financial results for FY19. It declared earning of net profit of PKR213m (US$1.36m)(unconsolidated) as compared to PKR356m earned in the same period last year. The company's profit dropped by 40.2 per cent despite increase in sales, which stood at PKR3.468bn compared to PKR2.842bn in the same period last year. The company incurred a higher distribution cost of PKR220m against PKR70m in the same period last year. Administrative ex... |
Semen Indonesia reports 4% drop in August sales19 September 2019, Published under Cement NewsSemen Indonesia reported a four per cent fall to 2.789Mt in total sales in August 2019 when compared with the previous year, when the company achieved sales of 2.904Mt. In July 2019 sales slipped by 2.6 per cent YoY to 2.706Mt. Of the total, domestic sales of 2.466Mt were reported, down 5.1 per cent YoY. This follows a six per cent YoY drop in July, when sales to Indonesian customers stood at 2.354Mt. Exports advanced by 5.6 per cent YoY to 323,101t following a 29.5 per cent rise to 352,55... |
DG Khan Cement profit falls in FY1917 September 2019, Published under Cement NewsDG Khan Cement Company Ltd (DGKC) of Pakistan has announced its financial results for FY19 on 16 September. It declared earning of net profit of PKR1.609bn (US$10.3m) (unconsolidated) as compared to PKR8.837bn earned in the same period last year. It shows profit hugely dropped by 81.8 per cent. The fall in profit is reportedly due to increase in the cost of sale to PKR35.15bn from PKR21.92bn and finance cost from PKR574m to PKR3.6bn during this period despite increase in sale. The company s... |
Hsing Ta Cement records 22% revenue increase for August10 September 2019, Published under Cement NewsTaiwan’s Hsing Ta Cement has seen a 21.6 per cent YoY increase in revenue to TWD727.86m (US$23.3m) for August 2019, compared with TWD598.65m in the year-ago period. In the first eight months of the year, the company recorded a 21.7 per cent YoY advance in revenue to TWD4.89bn from TWD4.02bn. |
Sagar Cements sees improvement in consolidated production in August06 September 2019, Published under Cement NewsIndia’s Sagar Cements has reported a 11.7 per cent YoY fall in its standalone production figures for August 2019, which declined to 182,891t from 207,008t. However, consolidated production climbed 2.5 per cent to 250,081t from 243,963t. Standalone cement sales were down 3.8 per cent YoY to 194,819t in the month, compared to 202,429t in August 2018. Meanwhile, consolidated cement sales advanced 8.9 per cent to 268,997t. |
Luks Group (Vietnam Holdings) records 10% fall in turnover05 September 2019, Published under Cement NewsLuks Group (Vietnam Holdings) Co Ltd has reported a 9.7 per cent YoY decrease in turnover to HKD330.6m (US$42.17m) for the six-month period ending 30 June 2019, compared with HKD366.2m in the 1H18. The company’s cement business saw a decline of 18 per cent YoY in turnover to HKD219.3m. The company has attributed the results to a fall in Chinese consumption, which resulted in reduced cement exports, alongside a decline in Vietnam’s domestic cement demand. The company’s plant in central Vie... |
PPC Zimbabwe's cement sales volumes fall by 25%04 September 2019, Published under Cement NewsPPC Cement's Zimbabwean cement sales volume contracted by 25-30 per cent in the four months ended 30 June 2019. The country has been hit by fuel and electricity shortages and other economic pressures. "Overall cement sales volumes contracted by between 25-30 per cent due to a weaker economic climate. Cement pricing, which was aligned with input cost inflation, was higher than the previous comparable period," PPC said. "Trading conditions in Zimbabwe remain challenging, due to liquidit... |
Beni Suef Cement reports modest revenue increase in 2Q1904 September 2019, Published under Cement NewsEgypt's Misr Beni Suef Cement saw a one per cent YoY increase in revenue to EGP454m (US$27.4m) in the 2Q19, supported by increased sales despite the Ramadan and Eid holidays. However, net profit was down 82 per cent YoY to EGP16m. The company may consider new investment opportunities worth up to EGP1bn during the coming period, as the company looks to benefit from a cash balance of over EGP1bn, according to Daily News Egypt. Meanwhile, it has reportedly reduced its production rate in acco... |
PPC releases operational update for the 4MFY2030 August 2019, Published under Cement NewsSouth Africa's PPC has released an operational update for the four months to 30 July, noting a 5-10 per cent increase in group EBITDA due to positive price momentum in South Africa and cost optimisation initiatives. Average cement prices in its southern Africa region (including Botswana) rose 7-8 per cent in the period, however cement sales declined 10-15 per cent YoY on the back of a decrease in domestic demand. The company noted that importer and blender activity contributed to the comp... |