Cement News tagged under: business results
China National Building Materials (CNBM)25 May 2016, Published under Cement NewsFollowing an 82.8 per cent drop in its net profit in 2015, China National Building Materials (CNBM) has reported a further 44.6 per cent contraction in net profit attributable to the owners for the three months ending 31 March 2016. Again the fall is being blamed on the national slowdown in both infrastructure and real estate as the Chinese economy continues to cool. The news comes hot on the heels of the Chinese government announcement to spend CNY4.7trn (US$720bn) on over 300 transport ... |
PT Indocement25 May 2016, Published under Cement NewsGovernment spending on infrastructure is expected to drive up cement demand in Indonesia in 2016, according to PT Indocement. Following consumption growth of 3.4 per cent in 2015, the company says that it forecasts sales to rise by 3-5 per cent this year. Along with a fall in interest rates, the government has pledged an infrastructure spend of IDR313.5trn (US$23.51bn) this year, up by eight per cent compared to 2015. In anticipation of the rise, PT Indocement is building a new 4.4Mta integr... |
Kazakhstan: devalued tenge affects Steppe Cement25 May 2016, Published under Cement NewsThe sharp devaluation of the Kazakh tenge saw the 2015 results of Steppe Cement affected as import pressures waned. Until August 2015 local producers had to lower their selling prices to fend of imports into Kazakhstan due to the relative strength of the tenge against the rouble. As a result, sales volumes in tonnes rose by only two per cent YoY to 1,643,136t in 2015 from 1,612,709 in 2014 while prices fell by eight per cent. After September imports slowed significantly, along with the econo... |
India: Prism Cement 4QFY16 profits fall 95% YoY25 May 2016, Published under Cement NewsPrism Cement’s net profits for the quarter to 31 March 2016 fell to just INR30m (US$445,000), down 95.2 per cent YoY, reports India Infoline. Net revenues at the company rose by 4.1 per cent YoY to INR15.9bn (US$236m), while profit margins were estimated at 6.3 per cent. Indian producers have struggled over the past year as low prices have hit profits even as volume sales have risen. |
FLSmidth records 19% rise in 1Q order intake19 May 2016, Published under Cement NewsFLSmidth reported a 19 per cent increase in order intake for 1Q16 to DKK5.281bn (US$797m), mainly due to the receipt of a large order in a quarter which is usually quiet. Revenue fell by 20 per cent in January with the recovery in February and March unable to offset the drop. Total revenues for the quarter reached DKK3.758bn, down from DKK4.683bn a year ago. The revenue shortfall impacted on operational leverage, which led to an EBITA margin of 6.5 per cent (down from 8.5 per cent in 1Q15) ... |
India: JK Lakshmi Cement 4Q net profit soars19 May 2016, Published under Cement NewsJK Lakshmi Cement’s net profit soared in the quarter ended 31 March 2016 from INR60.5m (US$ 0.90m) to INR483.8m YoY. Total 4Q revenues of the company jumped 27 per cent from INR5.782bn in FY14-15 to INR7.351bn. The commissioning of the Durg plant in March 2015 helped production increase by 42 per cent in the quarter. "Company's steep growth in production and sales along with its relentless efforts to improve efficiency and cutting operation cost has enabled the firm to post profitabil... |
Pakistan prepares for positive future18 May 2016, Published under Cement NewsThe outlook for the Pakistan cement industry is positive with expansion expected over the next few years. Key reasons include improved sector fundamentals backed by higher demand, cost efficiencies driven by lower international coal prices and captive power generation reducing energy costs, capacity expansions and low to minimal risk of cement price destabilisation. As a result, cement demand is forecast to grow at least eight per cent over the next five years (FY16-21) on the back of an ave... |
Barbados: Arawak reports improved performance16 May 2016, Published under Cement NewsArawak Cement Co Ltd of St Lucy, Barbados, announced a turnaround in its finances in 2015. While it did not release any hard data, it described 2015 as a “very encouraging” year. The company reported improved operational efficiencies and a 20 per cent rise in exports when compared with 2014. Chairman Arun Goyal said the improved performance resulted from strategic initiatives and “an adherence to the core objectives of sustainability and competitiveness as our driving force”. Last Octo... |
Titan 1Q16 results boosted by US growth13 May 2016, Published under Cement NewsTitan Group posted robust growth in sales and operating performance in 1Q16, primarily on the back of the US market, as well as the improved operation of the plants in Egypt. Consolidated turnover reached EUR337.8m, posting a 19 per cent increase compared to the same period the previous year. EBITDA increased by 86 per cent reaching EUR43.3m. Net profit after minority interests and the provision for taxes were negatively impacted by foreign exchange translation effects, particularly thos... |
Martin Marietta reports strong Q1 profit advance06 May 2016, Published under Cement NewsMartin Marietta Materials, one of the top five US aggregates producers, has announced a first-quarter turnover 16.2 per cent ahead at US$734.0m and EBITDA rose by 67.3 per cent to US$152.6m. The trading profit was more than trebled, rising from US$.25.6m to US$83.8m and after a net interest charge that was 3.6 per cent higher at US$20m and after other items, the pretax profit emerged at US$64.8m compared with just US$5.4m and the net attributable profit jumped from US$6.1m to US$45m. Capital... |