Cement News tagged under: business results
India: Prism results point to mild demonetisation impact16 February 2017, Published under Cement NewsPrism Cement has released its trading statement for the three months to December 2016, revealing that cement sales volumes have only been slightly harmed by the impact of demonetisation. The firm sold 1.20Mt of cement between September and December, compared with 1.22Mt in the same period the previous year. Revenues for Prism’s cement were even less affected, declining by just 0.8 per cent as the firm successfully reduced costs, particularly for logistics and power. In a forward-lookin... |
UAE: Sharjah Cement sees 20% fall in 4Q profits15 February 2017, Published under Cement NewsSharjah Cement and Industrial Development Co reported a 20 per cent YoY decrease in profits for 4Q16. Profits declined from AED24.52m (US$6.68m) in 4Q15 to AED1958m in 4Q16. Net profit for 2016 amounted to AED60m, 3.2 per cent down from AED62m in 2015, according to a bourse filing. Revenues decreased in 2016 to AED612m from AED639m for 2015. |
Peru: Cementos Pacasmayo sees 13% drop in sales in 4Q1615 February 2017, Published under Cement NewsPeru's Cementos Pacasmayo saw its cement, concrete and blocks sales decline by 12.7 per cent YoY in 4Q16. However, there was extraordinary spending associated with El Niño prevention in the quarter. Compared to 3Q16 sales volumes increased. Revenues decreased 9.8 per cent YoY to PEN316.7m (US$97.2m) while consolidated EBITDA fell 20.4 per cent YoY to PEN88.8m. The fall in EBITDA has been attributed by higher fixed costs, resulting from the lower sales volumes, as well as one-off expenses ... |
UAE: Fujairah sees profit 12% rise in 201613 February 2017, Published under Cement NewsFujairah Cement saw a 57.3 per cent drop in its profits during the 4Q16, according to a bourse filing. Profits fell to AED11.07m (US$3m) in 4Q16 from AED25.95m in 4Q15. However, full-year 2016 profits rose 12 per cent from AED50.65m in 2015. |
Cemex Latin American Holdings saw lower sales and profit10 February 2017, Published under Cement NewsCemex Latin American Holdings saw turnover decline by 7.8 per cent to US$1315.3m and EBITDA came off by 5.8 per cent to US$423.7m, with the margin recovering from 31.5 to 32.2 per cent. The trading profit recovered by 10.9 per cent to US$312.2m and after a further 13.6 per cent drop in financial expenses to US$63.7m and other items, the pretax profit advanced by 31.6 per cent to US$248.1m. After tax and minorities, the net attributable profit emerged 46.4 per cent higher at US$139.8m. The ne... |
Cemex's consolidated 4Q16 and full year 2016 report10 February 2017, Published under Cement NewsCemex, SAB de CV announced that on a like-to-like basis for the ongoing operations and adjusting for currency fluctuations, consolidated net sales increased by four per cent during the fourth quarter of 2016 to US$3.2bn, and increased four per cent for the full year 2016 to US$13.4bn, versus the comparable periods in 2015. Operating EBITDA on a like-to-like basis increased by 10 per cent during the 4Q16 to US$654m and increased by 15 per cent for the full year to US$2.7bn versus 2015. ... |
India: Birla sees 8% drop in 3Q income09 February 2017, Published under Cement NewsBirla Corp reported a saw its net profit fall from INR139.9m (US$2.09m) in 3QFY15-16 to INR20.9m in 3QFY16-17. The company attributed the decrease to higher borrowing costs on account of the company’s acquisition of Reliance Cement Co and the reduction of treasury income as internal accruals were used to fund the purchase. Total income shrunk by 8.07 per cent to INR8489m in October-December 2016 from INR9234.7m in 3QFY15-16. Cement dispatches were down 11 per cent at 1.747Mt YoY. "... |
Vulcan's pretax profit grows by 67%08 February 2017, Published under Cement NewsVulcan Materials' turnover increased by 4.7 per cent in 2016 to US$3592.7m and EBITDA rose by 17.3 per cent to US$965.5m. After a net interest charge 39.5 per cent lower at US$133.3m, there was pretax profit of US$547.3m, a 66.9 per cent improvement. At the net level there was an 89.7 per cent advance to US$419.5m. Capital expenditure rose by 21.1 per cent to US$350m and is forecast to be in the region of US$300m in 2017. EBITDA is estimated by the group to be in the region of US$1175m for 2... |
India: Ramco Cements reports 28% rise in 3Q net profit08 February 2017, Published under Cement NewsIndia’s Ramco Cements has reported a 28 per cent YoY increase in net profit to INR1.519bn (US$22.6m) in 3Q16. The company attributes the rise to a reduction in operating costs and lower finance costs at a time when cement sales improved. The companies net revenues rose 17.6 per cent to INR9.647bn in 3Q16 when compared with the same quarter in the previous year. |
Zimbabwe: PPC sales to December up 9%07 February 2017, Published under Cement NewsPPC says sales at its Zimbabwe unit rose by nine per cent in the nine months to December 2016 after commissioning its Harare plant. The Harare plant was commissioned in November last year and doubled its total output to 1.4Mt of cement. In a trading update, PPC however, said liquidity challenges in the country continue to harm efforts to import key raw materials. "…management is exploring various solutions to overcome these challenges," said PPC. The company also reported that its Hara... |