Cement News tagged under: business results
Tasek posts 3Q net loss22 October 2018, Published under Cement NewsMalaysia’s Tasek Corp Bhd posted a net loss of MYR5.99m (US$1.44m) in 3Q18 on the back of intense pricing competition as domestic cement demand fell. In 3Q17 the company reported a net profit of MYR1.89m. Rising production costs in its cement and ready-mix concrete businesses and lower interest income further affected the group’s business results. Revenue in the third quarter edged up from MYR146.55m in 3Q17 to MYR149.88m in 3Q18. Looking ahead, Malaysian cement demand is expected to rema... |
HeidelbergCement partially adapts 2018 outlook18 October 2018, Published under Cement NewsToday, HeidelbergCement has made a new assessment of the current business year based on preliminary numbers for the 3Q18. Sales volumes and revenue of the first nine months of 2018 developed within expectations and the guidance for the full year remains unchanged. However, the outlook for 2018 is adapted to a low- to mid-single-digit percentage decline (previously: mid- to high-single digit percentage increase). HeidelbergCement said in a statement that: "The reason for the adjustment is... |
ACC reports a 10% rise in net sales18 October 2018, Published under Cement NewsIndia’s ACC has reported a 15 per cent YoY increase in consolidated profit-after-tax to INR2.4bn (US$32.6m) for the 3Q18 ended 30 September. Net sales rose 10 per cent to INR33.64bn, compared with INR30.54bn seen in the year-ago period. Operating EBITDA was up seven per cent YoY to INR4.44bn from INR4.16bn. Furthermore, the cement sector showed volume growth of 10 per cent. "Demand drivers including growth in affordable and rural housing segments as well as infrastructure projects will rema... |
Lafarge Africa posts 5% net sales increase18 October 2018, Published under Cement NewsLafarge Africa has recorded a five per cent increase in net sales for the 3Q18 period, rising to NGN72bn (US$198.3m) from NGN68.8bn. In the 9M18, net sales again advanced five per cent to NGN234bn. The positive performance in the third quarter was mainly driven by strong volume growth in Nigeria and favourable pricing trends in South Africa, according to the company. EBITDA for the 3Q18 was up 96 per cent YoY as a result of an improved performance in South Africa, while it fell eight per c... |
Cherat Cement posts FY1Q profit fall17 October 2018, Published under Cement NewsCherat Cement Company Ltd (CCCL) has announced its financial results for the period ending 30 September 2018. The company reported a net profit of PKR431m (US$3.23m) in 1QFY 18-19, down by 28.87 per cent YoY. According to the company's notification to the Pakistan Stock Exchange (PSX), CCCL’s net revenue shrank to PKR3.34bn from PKR3.89bn during this period. Company sales during the quarter dropped by 14 per cent YoY, likely due to a slowdown in dispatches following the caretaker governmen... |
Yamama Cement posts 3Q18 loss17 October 2018, Published under Cement NewsYamama Cement Co reported a drop in revenues in the first nine months of the year to SAR107.7m (US$28.7m) from SAR164.2m in 3Q17. The fall in sales was attributed to the steep price decline in the Saudi market. The 3Q results also showed a SAR46.4m net loss after zakat and tax. In 3Q17 the company reported a SAR29.2m net profit, according to Reuters. |
Attock Cement revenue increases in 1QFY1915 October 2018, Published under Cement NewsAttock Cement Pakistan Ltd (ACPL) has announced its 1QFY19 results. It reported a net profit after tax of PKR423m (US$3.2m), down 30 per cent YoY despite an increase in revenue from PKR3.59bn to PKR5.83bn during this period. Analyst believes another reason for the profit fall was a rise in coal prices during this period. The company incurred a higher distribution cost of PKR626m and administrative expenses PKR129m compared to PKR284m and PKR107m, respectively incurred in corresponding peri... |
Raysut Cement 9M profit falls15 October 2018, Published under Cement NewsRaysut Cement Co reported revenues in the first nine months of 2018 were OMR64m (US$166.5m), representing a17 per cent increase when compared with OMR54.7m in 9M17. However, the company noted a significant drop in profit to OMR2m vs OMR6.7M in 9M17. |
Lafarge suffers loss on high tax payment15 October 2018, Published under Cement NewsLafarge Cement Zimbabwe reported a loss of ZWD1174m (US$4.9m) for 1H18 due to a significant tax settlement. In 2017, the company disclosed a contingent liability of ZWD7.9m relating to a tax assessment for the 2009-13 period. Last June the matter was heard in the courts but the judgment is yet to be handed down. Income tax payments rose ZWD2.7m from ZWD26,260 during the period under review. “The company reviewed its risk assessment of the matter and booked a tax provision towards this ca... |
Hsing Ta Cement's revenue up 33% in September09 October 2018, Published under Cement NewsTaiwanese cement manufacturer Hsing Ta Cement has recorded a 32.6 per cent YoY surge in revenue for September 2018, rising to TWD690.78m (US$22.30m) from TWD521.03m. In the first nine months of 2018, the company has seen a 26 per cent increase in revenue to TWD4.71bn, compared with TWD3.74bn of the year-ago period. |