Cement News tagged under: corporate
Shree Cement posts 15% fall in profit23 May 2023, Published under Cement NewsIndia’s Shree Cement has reported gross revenue from operations of INR59.98bn (US$724m) in the quarter ended 31 March 2023, up 16.8 per cent YoY. Profit of INR5.46bn (US$66.8m) was seen over the three-month period, compared to INR6.54bn in the same period a year earlier, marking a 15.3 per cent YoY decline. The company’s EBITDA margin over the same time frame contracted by two per cent as cement prices remained flat and expenses continued to expand. Shree posted a 24.4 per cent increas... |
Eagle Materials' cement revenue up 14% YoY in 4QFY2322 May 2023, Published under Cement NewsEagle Materials has posted record revenue of US$470.1m in the 4QFY23 (ended 31 March 2023), marking a 14 per cent increase YoY. Net earnings over the same period advanced by 35 per cent to US$100.4m, while adjusted EBITDA was up 30 per cent at US$171.7m. Cement revenue, including joint venture and intersegment revenue, in the quarter came in at US$213.8m, up 14 per cent YoY. Operating earnings for the cement business expanded by 59 per cent YoY to US$45.3m, driven by higher net sales p... |
Ramco Cements reports 51% advance in sales22 May 2023, Published under Cement NewsIndia’s Ramco Cements Ltd has reported sales of INR25.59bn (US$309.3m) in the quarter ended 31 March 2023 (4QFY22-23), marking a YoY increase of 51 per cent. Sales of cement and dry mortar products rose a comparable 46 per cent to 4.7Mt over the same period. According to the company, the growth is being driven by an uptick in infrastructure projects, which has helped offset weaker prices in the south of the country. Profit after tax in the March 2023 quarter came in at INR1.52bn, up f... |
Southern Province places contract for two new lines at Jazan22 May 2023, Published under Cement NewsSaudi Arabia-based Southern Province Cement Co has placed an order with Sinoma International Engineering Co for two new 5000tpd production lines at its Jazan cement plant. Line 3 will go under construction first and is due for completion within 18 months. Infrastructure for a second 5000tpd line (Line 4) is also being put in place, with that line expected to complete within 24 months. The US$330m project is being entirely funded by a local bank, reports Mist News. The Jazan plant cur... |
JK Lakshmi Cement income hit by fuel expenses22 May 2023, Published under Cement NewsIndia’s JK Lakshmi Cement has reported standalone total income of INR17,466.6m (US$211m) in the quarter ended 31 March 2023, compared to INR15,152.8m in the same period a year earlier. Net profit after tax over the same time frame fell from INR1717.3m to INR973.2m as total expenses advanced from INR12,939.6m to INR16,093.9m, driven primarily by higher power and fuel costs which expanded from INR3053.5m in the quarter ended 31 March 2022 to INR4102.9m in the same period a year later. Earnin... |
Breedon completes three bolt-on transactions22 May 2023, Published under Cement NewsBreedon Group plc has recently completed three bolt-on transactions with a combined enterprise value of up to GBP19m (US$23.6m). In Northern Ireland the acquisition of Robinson Quarry Masters Ltd, a family-run quarrying and concrete block business in Country Antrim, has further extended Breedon’s footprint north of Belfast in the housing, commercial and infrastructure end-markets, and enhanced its aggregate reserves in the country. In Great Britain it has acquired two downstream busine... |
Sanghi Cements results hit by finance costs22 May 2023, Published under Cement NewsSanghi Industries Ltd , which owns Sanghi Cement, has recorded total income of INR9478.1m (US$114.5m) in the year ended 31 March 2023. This compares to INR11,405.2m in the same period a year earlier. The company has reported a loss of -INR3257m in the year ended 31 March 2023, versus a profit of INR406.2m in the previous year. Total expenses over the same time frame have jumped from INR10,837.7m to INR12,735.1m, with finance costs advancing from INR819.6m to INR2381.7m. Meanwhile, earnin... |
DG Khan Cement to diversify into new cement export markets19 May 2023, Published under Cement NewsPakistan-based DG Khan is diversifying cement operations into new export markets, further enhancing the company's revenue mix. It recently delivered a 0.6Mt export order to the USA, according to a local research house. DG Khan Cement , which had increased its southern region capacity by 2.8Mta to 7.1Mta at its Hub plant in Balochistan in 2018, has not yet announced any capacity project during the ongoing expansionary cycle. According to AKD Securities Ltd, the industry capacity has in... |
Lucky to add a new clinker line of 1.82Mt in Iraq19 May 2023, Published under Cement NewsGM Finance and Company Secretary, Faisal Mahmood, of Lucky Cement Ltd ( Yunus Brothers Group ) informed Pakistan Stock Exchange (PSX) on 18 May that the company has made a 1.82Mta expansion plan with its joint venture partner in Samawah, Iraq, taking the total capacity under its clinker production company Najmah Al Samawah to 3.13Mta. It will coincide with the increasing cement demands in Iraq. The management expects the plant to be completed in 18 months, as per PSX notice, after... |
Khayah Cement recovers with new VRM and dry mortar plant19 May 2023, Published under Cement NewsZimbabwe-based cement producer, Khayah Cement Ltd , has reported a 96 per cent YoY leap in sales volumes in the quarter ended 31 March 2023. According to the company, the strong results have been supported by the installation of a vertical cement mill (VRM) in the 3Q22. This follows the collapse of the plant, which brought production to a standstill between October 2021 and 2022. 2021 also saw the company invest in an automated dry mortar plant, resulting in dry mortar product sales adv... |