Cement News tagged under: business results
Semen Indonesia Group sales slip 2% in March22 April 2020, Published under Cement NewsTotal sales of Semen Indonesia Group (SIG) fell two per cent in March 2020 to 3,098,449t when compared with March 2019, when sales reached 3,161,373t, according to data released by SIG. Semen Indonesia, including PT Solusi Bangun Indonesia (SBI), reported a 4.9 per cent YoY drop in sales to 2,879,329t as the domestic market contracted by 9.5 per cent with offtake at 2,490,257t. However, exports advanced by 40.2 per cent YoY to 389,072t in March 2020. Thang Long Cement Co (TLCC) posted a... |
Fauji Cement 9M profit drops 88%21 April 2020, Published under Cement NewsPakistan-based Fauji Cement Co Ltd (FCCL) saw its 9MFY19-20 profit, for the period ended 31 March 2020, fall 88 per cent to PKR271m (US$1.7m) when compared with the year-ago period as sales declined due to the impact of COVID-19. The company’s topline contracted by 25 per cent YoY to PKR3.93bn in the 3QFY19-20 as dispatches shrank by two per cent to 706,000t and prices softened. Domestic sales fell by 10 per cent YoY to 623,000t, according to Pakistani new service The News. The 3Q result... |
Carthage Cement sees 1Q turnover up 6%17 April 2020, Published under Cement NewsTunisia’s Carthage Cement reported a six per cent rise in turnover to TND63.617m (US$22m) in the 1Q20 when compared with TND59.771m in the equivalent period of 2019. The company also announced it suspended production and sales of aggregates, clinker and ready-mix concrete from 20 March to reduce the spread of the coronavirus. The first quarter also included a technical shutdown for the annual maintenance campaign of the kiln line. As a result, clinker out put reached 145,815t on 31 March 2... |
Five Pakistan cement producers to release 3Q results amid coronavirus pandemic17 April 2020, Published under Cement NewsPakistan's leading cement companies are scheduled to announce on 23 April their financial results for the 3QFY19-20 ended 30 March 2020. Analysts anticipate mixed results, carrying some negative reflection of mitigation efforts to stop the spread of the coronavirus in the country. During this accounting period, the pandemic started to spread and the government enforced lockdown to control it in all provinces, aiming social distancing. This later triggered the closure of some cement plants... |
Lafarge Africa PLC returns to profit in 201916 April 2020, Published under Cement NewsLafarge Africa PLC has reported revenues of NGN213bn (US$551.5m) for the year ended 31 December 2019 as against NGN218bn in 2018. Operating expenses fell from NGN29.89m to NGN23.42m. Financing costs also declined from NGN41.6bn to NGN20.2bn. The company ended 2019 with a profit after tax of NGN15.5bn compared with a loss of NGN8.1m in 2018. Lafarge Africa also reduced its debt from NGN208bn in 2018 to NGN52.6bn in 2019, while total equity jumped from NGN135bn to NGN345bn in 2019. Speak... |
Steppe Cement 1Q20 cement sales fall by 11%16 April 2020, Published under Cement NewsIn the 1Q20 Steppe Cement Ltd sold 235,896t of cement for KZT4003m (US$9.4m) compared to 266,393t in the 1Q19, a decline of 11 per cent. Kazakhstan's cement market increased in 1Q20 by 15 per cent over the corresponding period of the previous year. The company maintained pricing over volumes in the 1Q20 but saw its market share decrease to 13.3 per cent from 17.4 per cent in the 1Q19. The average price for delivered cement in the 1Q20 was KZT16,970/t, compared with KZT16,723/t in the 1Q... |
Gulf Cement to delist from Boursa Kuwait07 April 2020, Published under Cement NewsAt its ordinary general meeting, Gulf Cement Co has approved the board’s proposal to delist from Boursa Kuwait. In addition, the company will not to distribute dividends for 2019 due to the current circumstances, changes in international economics, and continuous competition in local and foreign markets, according to Mubasher. The company also reported that Kuwait’s cement sector has incurred major damages due to continuous oversupply and weakening demand, alongside the increasing pric... |
Cement sales on Fiji impacted by coronavirus06 April 2020, Published under Cement NewsFijian cement producer Pacific Cement Ltd reported cement sales declined by 27 per cent YoY in March. The company has lost an estimated US$750,000 in sales, according to General Manager, Sowani Tiudrola. Reduced market demand has resulted in Fiji Cement selling 3000t less. Standard Concrete Industries also said market demand was 50 per cent down in March. The company has closed its Lautoka plant and its staff have been advised to take their leave until further notice, reported Fijian Broa... |
Adelaide Brighton pulls 2020 profit guidance02 April 2020, Published under Cement NewsAustralia’s Adelaide Brighton has pulled its 2020 profit guidance due to the economic uncertainty resulting from the coronavirus pandemic, but noted it has AUD450m (US$274.55m) in cash and undrawn bank facilities. According to the company’s webpage, it still has no known cases of COVID-19 across its business. "All our 130+ locations remain open for business and we are well stocked with raw materials to meet the needs of all our valued customers. We’ll continue to meet with our customers to... |
Ambuja Cement of India profit grows in FY1902 April 2020, Published under Cement NewsAmbuja Cement Ltd of India has reported an increase in total income of 3.1 per cent and profit after tax (PAT) advance of 2.8 per cent during FY19, despite an increase of 0.6 per cent in operating expenses, according to detailed stand-alone financial result released recently. The total income increased to INR120.94bn (US$1.586bn) in 2019 from INR117.32bn in the year-ago period. PAT reached to INR15.29bn in 2019 from INR14.78bn in 2018. Operating expenses increased from INR94.65bn in 2018 t... |