Cement News tagged under: corporate
Buzzi to increase stake in Cement Nacional to 100%20 May 2024, Published under Cement NewsItaly-based Buzzi SpA said it will increase its stake in Brazilian cement producer Cimento Nacional (NCPAR) to 100 per cent from the current 50 per cent as its joint venture partner, Grupo Ricardo Brennand , exercises its put option, according to a statement by the company. The price will be determined based on existing agreements and may also vary depending on the exchange rate of the real. The total investment is currently estimated EUR290-310m (US$315m-337m) and will be funded with ... |
Udaipur Cement Works 4Q net profit up 17%20 May 2024, Published under Cement NewsIndia-based Udaipur Cement Works posted a net revenue of INR34.835bn (US$418.3m) in the January-March 2024 quarter (4QFY23-24), an increase of 18.2 per cent YoY from INR29.464bn in the 4QFY22-23. The company’s net profit increased 17.2 per cent YoY to INR197.9m in the 4QFY23-24 from INR168.9m in the year-ago period. Operating expenses increased by 14.9 per cent to INR2.874bn in the 4QFY23-24 from INR2.502bn in the equivalent period of the previous year while other income increased by 4... |
The India Cements posts revenue advance YoY20 May 2024, Published under Cement NewsThe India Cements Ltd has reported standalone revenue of INR12,700.5m (US$152.6m) in the quarter ended 31 March 2024. This compares to INR10,987.3m in the previous quarter and INR14,788.9m in the same quarter in the previous year. A loss of INR293.3m was seen in the March 2024 quarter, up from the INR165.1m loss reported in the quarter ended 31 December 2023, but down from the INR2177.9m loss of the quarter ended 31 March 2023. Expenses fell from INR16,073.1m in the March 2023 quarter t... |
Najran Cement net 1Q profit drops 26%20 May 2024, Published under Cement NewsSaudi Arabia-based Najran Cement Co saw a 3.9 per cent decline to SAR138.12m (SAR36.83m) in the 1Q24 from SAR143.68m in the 1Q23. The company’s net profit saw a 25.7 per cent YoY fall to SAR21.54m in the 1Q24 from SAR28.98m. The earnings per share (EPS) amounted to SAR0.13 in the three-month period that ended on 31 March 2024, down from SAR0.17 in the corresponding period a year earlier. In 2023 the company’s profit fell by 38.5 per cent YoY to SAR69.43m from SAR112.8m. |
Dandot Cement Co faces initial issues in trial production20 May 2024, Published under Cement NewsAccording to Dandot Cement Co Ltd’s nine-month report, the company lost RPKR129m (US$0.463m) in 9MFY23-24, compared to PKR118m during the same months last year. The company’s loss is mainly attributable to frequent shutdowns of the cement mill and kiln, which result in reduced cement production and high raw material consumption. The company’s top officials stated in the report that after completing the BMR activity at Jhelum district, Pakistan, the plant commenced operations by lighting... |
Cementos Molins unveils new corporate identity20 May 2024, Published under Cement NewsCementos Molins has unveiled its new corporate identity with the new brand consolidating the company's various existing commercial brands in Spain under a single identity. Aligned with the new identity, Molins launches Susterra, its new range of sustainable solutions. The company is consolidating its commercial brands in Spain including, Cementos Molins Industrial, Promsa, Propamsa, Pretersa-Prenavisa and Precon under a single identity that represents a wide range of products and solut... |
Afrimat boosts revenue by 24% in FY23-24 as Lafarge integration continues17 May 2024, Published under Cement NewsAndries Van Heerden, Afrimat's Group CEO, stated that he was exceptionally pleased with the group’s performance for the year ended 29 February 2024, which was supported by a revenue increase of 23.9 per cent from ZAR4.9bn (US$268.9m) to ZAR6.1bn (US$334.8m). Operating profit increased by 19.8 per cent to total ZAR12bn (2023: ZAR961.6m), delivering an operating profit margin for the group of 18.9 per cent. “The diversified position Afrimat has adopted, together with the efficiency proje... |
Al Jouf Cement sees net profit advance 21% in 1Q2417 May 2024, Published under Cement NewsSaudi Arabia’s Al Jouf Cement Co saw its consolidated net profit advance to SAR12.45m (US$3.32m) in the first quarter of 2024, up 21.2 per cent from SAR10.27m in the same period a year earlier. Compared to the previous quarter, however, net profit was down 69.2 per cent from SAR40.46m. According to Zawya, revenue in the 1Q24 increased 16.8 per cent from SAR70.27m in the 1Q23 to SAR82.04m. Compared QoQ, revenue slipped two per cent from SAR83.74m. |
Thatta Cement Co shows strong profit growth in 9MFY23-2417 May 2024, Published under Cement NewsThatta Cement Co Ltd reported that in the nine months ending on 31 March (9MFY23-24), the company earned a net profit of PKR888.2m (US$3.19m) when compared to PKR80.6m in the year-ago period, representing a strong advance in net profit during the accounting period. The company's local sales, in terms of volume, increased by 21.2 per cent to 387,774t compared to the corresponding period of last year, when 319,959t of cement were dispatches. Thatta Cement achieved a 41.1 per cent increase i... |
Hume Cement doubles profits17 May 2024, Published under Cement NewsMalaysia’s Hume Cement Industries has reported net profit of MYR61.06m (US$13.04m) in the third quarter of the current financial year, ended 31 March 2024. This has more than doubled compared to the same period a year earlier. Revenue over the same time frame advanced from MYR289m to MYR310.4m. According to the company, the increase in revenue and profit was due to lower manufacturing costs, coupled with a higher cement average selling price and higher sales volumes. For the first nin... |