Cement News tagged under: corporate
SIG sees revenue fall 2% in 1H2205 September 2022, Published under Cement NewsIn the first half of 2022, Semen Indonesia Group (SIG) has reported revenue of IDR15,876bn (US$1064m), down 2.1 per cent on the same period last year. The decline was mainly driven by lower sales volumes with domestic sales volumes down 2.6 per cent YoY to 13.9Mt on the back of the Lebaran holidays following a two-year gap during the pandemic, along with a shift in people’s spending priorities away from property and renovation work. Regional sales volumes fell 39.2 per cent YoY to 2.9Mt, t... |
Ghana raises cement prices05 September 2022, Published under Cement NewsCement prices in Ghana have risen to GHS73/50kg bag (US$7.30/50kg bag) as producers are forced to hike up prices due to the depreciation of the cedi. The resulting increase in raw material costs has caused a sudden rise in production costs, particularly from July this year, leading to the price increase, reports Pulse. According to Joy News, Ghacem ’s Extra brand is now selling at GHS72.9/50kg bag. |
Morgan Stanley invests in ACC05 September 2022, Published under Cement NewsMorgan Stanley has bought a stake in Indian cement producer ACC Ltd. According to Mint, Morgan Stanley Asia (Singapore) has purchased 941,557 ACC shares at INR2290 each, marking an investment of INR2156m (US$26.9m). The deal was made through an open market transaction on 2 September 2022. |
Cruz Azul will see power supply restored05 September 2022, Published under Cement NewsCruz Azul and Mexico’s Federal Electricity Commission have reached an agreement and the state power supplier must reconnect power to the cement plant in Tula, Hidalgo state, by 12.45h on Wednesday, 7 September, according to Federco Sarabia Pozo, president of Cruz Azul. The plant’s power supply was suspended 20 days ago as the cement companies had more than MXN300m in economic losses. Before the interruption to its power supply the plant worked at a 30 per cent capacity utilisation rate, re... |
Luks Group (Vietnam Holdings) reports 4% YoY drop in revenue02 September 2022, Published under Cement NewsLuks Group (Vietnam Holdings) Company Ltd has announced revenue of HKD266.3m (US$33.9m) in the first half of 2022, down 4.1 per cent from HKD277.7m in the same period a year earlier. Profit over the same period declined from HKD42.1m to HKD23.5m, while earnings per share contracted from HK8.5c to HK5.1c. Over the six months, the cement and clinker sales of the group’s cement plant was approximately 420,000t, down 19.8 per cent on the 524,000t sold in the 1H21. From its cement business,... |
Maple Leaf Cement reports 18.9% growth in profit during FY202202 September 2022, Published under Cement NewsMaple Leaf Cement Factory Ltd (MLCF) has informed Pakistan Stock Exchange (PSX) that the company declared its financial results for FY21-22 (July 2021-June 2022), whereby earnings arrived at PKR4.55bn (US$20.5m) against PKR3.82bn last year, up by 19 per cent. Whereas during 4QFY21-22 (April-June 2022), the company posted a profit after tax of PKR232m compared to PKR980m in the same period last year, depicting a decline of 76 per cent YoY mainly on account of imposition of super ta... |
CEMEX closes the sale of its Costa Rican operations02 September 2022, Published under Cement NewsThrough certain subsidiaries, CEMEX has successfully closed the previously informed sale of its operations in Costa Rica and El Salvador to Cementos Progreso Holdings SL , for an approximate amount of US$329m, as per the terms of the transactional documents. The transaction, which was closed in line with the terms that had been disclosed on 29 December 2021, is an important step in meeting the goal of optimising the company’s global asset base through asset divestments under CEMEX’s st... |
Adani Enterprises replaces Shree Cement in Nifty50 on NSE02 September 2022, Published under Cement NewsAdani Enterprises is to be included in the headline index Nifty50 on the National Stock Exchange of India (NSE) from 30 September 2022, replacing Shree Cement . According to The Economic Times, shares in Adani Enterprises have rallied over 88 per cent so far this year, taking its market capitalisation to INR3680bn (US$46,127m). After Adani Ports, this is the second stock from Gautam Adani to be included in the Nifty. Meanwhile, shares in Shree Cement have fallen by almost 21 per cent s... |
Huaxin Cement sees revenue fall 2% in 1H2201 September 2022, Published under Cement NewsChina’s Huaxin Cement Co Ltd has reported revenue of CNY14,389m (US$2087m) in the first half of 2022, down 2.41 per cent YoY. The fall is being blamed on lower cement sales volumes and higher fuel costs. Over the same period, net profit attributable to equity shareholders contracted by 34.9 per cent to CNY1587m. Due to the country’s extreme macro-economic environment, sales volumes of cement and ready-mixed concrete fell 21.5 per cent YoY in the first six months of 2022 to approximately 29Mt... |
Breedon extends rail infrastructure01 September 2022, Published under Cement NewsA joint initiative between Breedon Group , Network Rail and the Welsh government has brought a disused freight yard back to life, resulting in lower CO 2 emissions, less road traffic and reduced operating costs. The Llandudno Junction freight yard, located near the main Penrhyn Quarry of Breedon subsidiary Welsh Slate, is expected to handle up to 260,000t of materials each year with typical freight trains carrying 1500t of material, compared to 28t for a truck. The first freight train l... |