Cement News tagged under: business results
USA: Summit cement profits rise 45% on back of higher volumes and prices24 February 2017, Published under Cement NewsIn a trading statement for 2016, Summit Materials has announced that profits at its cement business rose by 45.1 per cent YoY, with volumes rising by 37 per cent and prices increasing by 7.5 per cent. Summit’s cement segment produced revenues of US$250m in 2016, with profits reaching US$127m in the same period. The business produced 2.14Mt of cement over the year, of which 0.6Mt was produced in the 4Q16. Summit’s profitability was improved by the rising price of cement. In 2015 its ave... |
South Korea: Sungshin Cement back in the black in 201624 February 2017, Published under Cement NewsSouth Korean cement producer Sungshin Cement Co Ltd improved its revenues by 1.2 per cent to KRW686.6bn in 2016 from KRW678.7bn, according to the country’s Financial Supervisory Service. The company’s operating profit rose from KRW35.26bn to KRW36.83bn while in terms of net profit, the firm swung from a KRW33.99bn loss to a net profit of KRW12.4bn, according to preliminary and unaudited results. |
Kenya: East African Portland Cement reports 1H16-17 pretax loss23 February 2017, Published under Cement NewsIn the first half of the FY16-17 ended December 2016 East African Portland Cement Co (EAPCC) has reported a pretax loss of KES533.7m (US$5.2m), an improvement when compared with the loss of KES745m reported a year ago. Revenues in the first half fell from KES4.62bn to KES3.72bn. EAPCC operates a 1.14Mt cement plant at Athi River and also owns downstream concrete activities. It is Kenya's fourth-largest cement producer after Lafarge Bamburi, Mombasa Cement and Savannah Cement. |
Peru: Cementos Yura Q4 profit falls by 20%22 February 2017, Published under Cement NewsCementos Yura has announced that its profits for4Q16 were down by 20.1 per cent YoY to PEN40.2m (US$12.4m), reports Business News Americas. The firm saw sales revenues fall by 3.3 per cent, while administrative costs more than doubled as the firm paid a PEN25.7m penalty for cancelling a contract with a supplier. Cementos Yura was also negatively affected by foreign exchange fluctuations. While local sales were little changed YoY at 0.61Mt, exports fell by 14.8 per cent to below 0.1Mt. ... |
Oman Cement annual profit up 10% as production rises22 February 2017, Published under Cement NewsOman Cement has announced that its profits rose by 10 per cent in 2016, to OMR12.87m (US$33.4m). In an earnings statement to the Muscat Securities Market, Oman Cement said that sales revenues rose by 8.5 per cent, but better control of costs produced a greater rise in profitability. The company sold 2.3Mt of cement in 2016, a 10.7 per cent increase on the previous year, which given the slower pace of revenue growth implies lower prices. Profits were also affected by the longer than ... |
India: Ambuja net profit leaps 85% in 4Q1621 February 2017, Published under Cement NewsLafargeHolcim-owned Ambuja Cement reported a 85.2 per cent rise in its consolidated net profit to INR2.057bn (US$30.7m) for the fourth quarter ended 30 December 2016 from INR1.11bn in 4Q15. Ambuja’s total income from operation almost doubled to INR49.362bn in the Oct-Dec quarter from INR23.843bn in the year-ago period, Ambuja said in a BSE filing. "During the year, Holcim India Pvt Ltd has been amalgamated with the company from the effective date August 12, 2016 pursuant to scheme of ... |
UAE: Arkan’s profits fall by 25% in 201617 February 2017, Published under Cement NewsArkan Building Materials has seen its annual profits fall by a quarter to AED75.7m (US$20.6m), according to reports in Construction Week Online. The company, which is the UAE’s single largest cement producer by installed capacity, blamed damage related to heavy rains in March 2016 as the cause of its fall in revenues. Better control of costs saw the firm’s gross profit margins increase to 36 per cent in 2016, while sales volumes improved in both the UAE and internationally. However, ex... |
Saudi Arabia: Southern Province reports 48% fall in 4Q profits17 February 2017, Published under Cement NewsSouthern Province Cement reported a decline of 48 per cent in its profits for the fourth quarter of 2016. Profits in 4Q16 fell to SAR156m (US$41.6m) from SAR300m in 4Q15. Southern Province Cement is part of a trend that sees Saudi cement producers report a considerable drop in sales due to a signficant reduction in construction activity in 2016. Infrastructure spending in Saudi Arabia has sharply dropped in 2016 and total cement consumption in 2016 reached 55.3Mt, a far cry from its 2015... |
Turkey: Akcansa Çimento sees 1.8% rise in FY16 net profit17 February 2017, Published under Cement NewsAkcansa Çimento reported largely-stable revenues of TRY1.46m (U$398.1m) for 2016, when compared with TRY1.46bn in 2015. FY16 net profit increased to TRY286.4m in 2016, up 1.8 per cent YoY. in 2015, the company recorded a net profit of TRY281.1m. |
Boral's Australian cement turnover declines16 February 2017, Published under Cement NewsBoral's turnover for the six months to the end of December declined by 4.6 per cent to AUD2093m (EUR1497m), largely reflecting the transfer of US Bricks to joint venture status and the completion of two LNG projects as well as the decline in Western Australia. EBITDA improved by 3.5 per cent to AUD333m (EUR238m) while the trading profit advanced by 5.5 per cent to AUD211m (EUR151m). After a net interest charge 12.9 per cent lower at AUD27m (EUR19m) the pretax profit improved by 8.9 per ce... |