Cement News tagged under: business results
Saudi Arabia: Yamama sees 41% net profit decrease18 October 2016, Published under Cement NewsYamama Cement Co reported a 41 per cent YoY fall in net profits to SAR56.3m (US$15m) in the 3Q16 from SAR95.53m (US$25.47m). The decrease resulted from a higher cost of sold goods due to increases in fuel prices as well as those of fixed assets, according to a bourse filing. The company also attributed the lower profits to lower value and volume of sales as a result of the pilgrimage season in the current quarter. Yamama's profits retreated 30.14 per cent to SAR323m during the firs... |
Saudi Arabia: Southern Province 3Q16 profit drops 14%18 October 2016, Published under Cement NewsSouthern Province Cement posted a 14.4 per cent YoY decrease in profits from SAR202m (US$53.9m) in 3Q15 to SAR173m in 3Q16. Lower demand and higher depreciation were cited as the key reasons for the decline. In the first nine months of 2016, the cement producer registered net profits of SAR724m, down from SAR739m for the same period of the previous year. |
Saudi Arabia: low demand sees Najran Cement 3Q16 profits halved18 October 2016, Published under Cement NewsLower sales volumes due to a slowdown in construction activity have seen the net profit of Saudi Arabian-based Najran Cement halve YoY from SAR32.07m (US$8.55m) in 3Q15 to SAR15.36m in 3Q16. The profit fall came despite lower selling and distribution expenses, Zakat (tax) as well as higher other revenues. As for the nine-month period ended 30 September 2016, the Saudi cement producer reported a net profit of SAR110m, down 45.5 per cent from SAR201.89m in the same period in 2015. |
Oman: Raysut Cement 3Q profit falls 23%14 October 2016, Published under Cement NewsRaysut Cement Company reported a 22.5 per cent fall in its 3Q16 profits, according to a bourse statement. Profits reached OMR3.76m (US$9.7m), compared to OMR4.85m in 3Q15. In the first nine months of 2016, net profits increased five per cent to OMR16.66m from OMR15.81m in the equivalent period of 2015. |
LafargeHolcim13 October 2016, Published under Cement NewsLafarge Zimbabwe increased its first half turnover by 4.3 per cent to US$26.5m in 1H16, but the company's loss advanced by 61.9 per cent to US$2.25m, reflecting increased competition, including the arrival of a new competitor. Another competitor is threatening to close capacity unless the government acts to curb imports. |
Mexico's GCC sees 32% hike in EBITDA in 3Q1613 October 2016, Published under Cement NewsGrupo Cementos Chihuahua reported a 32.3 per cent rise in EBITDA in the 3Q16, supported by an 11.5 per cent increase in US sales, a price hike due to the depreciation of the Mexican peso against the dollar. "Net sales (consolidated) in the third quarter of 2016 increased 10.2 per cent over the same period of 2015, totalling MXN4,287m. This increase is a result of higher volumes of cement in Mexico and concrete in the US," explains the firm in its report to the Mexican Stock Exchange (BMV).... |
Qatar National Cement Company profits flat for 9M201613 October 2016, Published under Cement NewsThe Qatar National Cement Company (QNCC) has released its earning statement for the first nine months of 2016, showing that revenues and profits have changed little from the corresponding period in 2015. Profits at QNCC were down one per cent to QAR355m (US$97.6m), while revenues also fell slightly, being down 0.9 per cent to QAR839m. Taken together with previous three-monthly earnings statements, QNCC’s revenues have now fallen for two straight quarters, declining by 3.0 per cent in Q... |
Saudi Arabia: Qassim Cement reports lower-than-expected 3Q16 profits11 October 2016, Published under Cement NewsSaudi Arabia’s Qassim Cement reported a profit of SAR70.4m (US$18.8m) in 3Q16 and an operating profit of S AR78.3m. The results were lower than expected, according to Al Rahji Capital, who had estimated them at SAR86m and SAR91m, respectively. "Earnings declined mainly due to sharp drop in gross margin to 49.3per cent (vs 60.1 per cent in 3Q15) which in turn was due to lower sales volume and average realised price/tonne,” Al Rajhi Capital reported. The fall in profits was attributed to... |
India: Sagar Cement sales rise 29% on consolidated basis07 October 2016, Published under Cement NewsSagar Cement has announced its sales and production figures for September, which saw the former rise by 29 per cent on a consolidated basis, but fall by 15 per cent on a standalone basis, Accord Fintech reports. Consolidated sales amounted to 148,000 tonnes, while standalone sales reached 98,000 tonnes. Production for September was 146,000 tonnes, while standalone production was 94,000 tonnes. For the period April to September 2016, Sagar produced 1.09Mt on a consolidated basis and 0.7... |
Lafarge Zimbabwe losses increase to US$2.2m30 September 2016, Published under Cement NewsLafarge Zimbabwe has announced a 1H16 loss of US$2.2m, an increase from the 1H15 US$1.3m loss, the Insider reports. Competition from cheap imported cement and rising output from other domestic producers had had an impact on profits, as had softening demand caused by Zimbabwe’s economic difficulties, said the company. Despite this, sales revenues for the first six months of the year were up slightly, rising by 4.3 per cent to US$26.5m. Lafarge Zimbabwe Board Chair, Kumbirayi Katsande... |