Cement News tagged under: cement prices
India: JK Cement annual profits down 35.3%31 May 2016, Published under Cement NewsThe Times of India reports that JK Cement’s standalone net profit for 2015-16 was down 35.3 per cent on the previous year to INR1.015bn (US$15.1m). Quarterly profits for the period ending 31 March 2016 were up slightly YoY at INR705.6m (US$10.5m). Like most Indian producers, JK Cement’s performance appears to have suffered from negative pricing pressures. Revenues were up for both the year and the final quarter, implying higher volumes than for 2014-15, but despite this profits suffered. ... |
Pakistan: construction sector demands reduction in cement prices26 May 2016, Published under Cement NewsThe Association of Builders and Developers of Pakistan (ABAD) has called on the government to reduce the price of cement in country or to allow the importation of supplies from alternative sources. In their appeal, ABAD accused the All Pakistan Cement Manufacturers Association (APCMA) of not passing on energy cost reductions, despite promises to that effect made to the government. Coal and oil prices have fallen by more than 50 per cent, while the gas infrastructure development cess (GIDC... |
India: UltraTech’s profits rise to US$109m for 1Q1629 April 2016, Published under Cement NewsUltraTech Cement’s quarterly earnings statement for 1Q2016 show consolidated net profit growth of 10 per cent reaching INR7.23bn (US$109m) for the year to March, according to a report in Mint. Capacity utilisation was also higher in 1Q2016, rising by five per cent to 84 per cent. Volume sales rose by 15 per cent YoY, but revenues increased more slowly – by five per cent – due to declining prices. UltraTech’s EBITDA grew by just three per cent YoY despite improvements in cost efficiencies.... |
Lafarge Africa posts US$9.5m quarterly loss as price squeeze bites29 April 2016, Published under Cement NewsNigerian-based Lafarge Africa has seen revenues fall by 29 per cent to NGN52.4bn (US$263m) in the first quarter of 2016, leading the company to record an after-tax loss of NGN1.9bn (US$9.5m). According to Bloomberg, Lafarge – which did not comment on the results – had said late last year that pressure on prices and a market slowdown were presenting challenging trading conditions in Nigeria and other African countries. Lanre Buluro, an equity broker and analyst with Primera Africa Secur... |
Morgan Stanley: cement consumption to grow 4% YoY to 202025 April 2016, Published under Cement NewsNew research from Morgan Stanley predicts that worldwide cement demand excluding China has turned a corner and will grow at an annualised rate of four per cent between 2016 and 2020. The investment firm is particularly bullish about India, South Asia and sub-Saharan Africa, all of which it forecasts will see consumption grow by more than five per cent per year over the period (with Indian demand set to expand at 6.7 per cent). However, consumption in China is predicted to fall by 1.2 per ... |
China Resources Cement sees profits fall by 99%25 April 2016, Published under Cement NewsChina Resources Cement (CRC) has seen profits attributable to owners fall by 99 per cent to HKD6.6m (US$850,000) for the first three months of 2016 as compared to the same period in 2015. The firm's revenues fell by 24 per cent to HKD4.7bn (US$610m) in 1Q2016. The company was hit hard by falling prices: sales volumes rose from 15Mt in 2015 to 15.8Mt, but average prices fell by 27 per cent to HKD232.8/t (US$30/t). Sales volumes fell 14 per cent to 5.6Mt in Guangdong – CRC’s biggest prov... |
Pakistan: Builders hit out against high cement prices19 April 2016, Published under Cement NewsThe Chairman of Pakistan’s Association of Builders and Developers (ABAD), Hanif Gonar, has accused the country’s cement manufacturers of keeping prices artificially high. In a report in the Daily Times, Mr Gonar pointed to recent statements by the head of the All Pakistan Cement Manufacturers Association, Muhammad Ali Tabba, who claimed that taxes on gas and coal meant the industry was unable to reduce it charges. This was not the case, the ABAD chairman, insisted. He claimed that the ... |
Kazakhstan: Steppe Cement sales down as demand tumbles18 April 2016, Published under Cement NewsSteppe Cement has seen sales and revenue fall in the first quarter of 2016 as the company predicts that demand in Kazakhstan will be 11 per cent lower this year than it was in 2015. According to a report from DigitalLook, Steppe Cement’s volumes were down one per cent YoY in Q1 2016, falling to 190,953 tonnes. Revenues fared worse, falling by 12 per cent to KZT2.3bn (US$6.8m) over earnings in the same period last year. Ex-factory prices have declined by 13 per cent. Despite this, Step... |
India: Cement stocks rise as demand recovers14 April 2016, Published under Cement NewsIndian cement manufacturers are set to continue the strong performance which has seen their stocks outperform the BSE Sensex by a factor of ten over the past month. In this period, the Economic Times reports, India Cements’ shares are up 23 per cent, ACC is up 18 per cent, JK Cement and JK Lakshmi Cement are up 16 per cent, Ramco Cements is up 14 per cent and Ambuja Cements is up 12 per cent. The market as a whole, as tracked by the Bombay Stock Exchange’s Sensex index, is up just 1.2 per... |
Cement price dispute rages in Pakistan14 April 2016, Published under Cement NewsThe Pakistan cement industry and the Association of Builders and Developers of Pakistan (ABAD) are loggerheads with each other on the price of cement price. Both players are advocating their point of views and are appealing to the government to safeguard their industries, and the current and future investment in their respective sectors. While defending, Chairman of All Pakistan Cement Manufacturers Association (APCMA), Mohammad Ali Tabba, said in a statement that the cost of doing bu... |