Cement News tagged under: corporate
Arabian Cement posts 34% rise in 2Q profit10 August 2022, Published under Cement NewsSaudi cement producer Arabian Cement Co reported a 2Q net profit after zakat and tax of SAR45m (US$12m), up 34.2 per cent from SAR33.5m in the 2Q21. The increase in profit was achieved despite sales slipping from SAR233m in the 2Q21 to SAR231m in the 2Q22 as the average sale price increased. In addition, there was an increase in the share of profit of associated companies and a decrease in finance costs. The 2Q22 also saw a decrease in sales volumes of Arabian Cement and its subsidiary i... |
Eagle Cement posts increase in net sales in 1H2209 August 2022, Published under Cement NewsIn the first half of 2022, Philippines-based Eagle Cement Corp saw its net sales advance to PHP13,680m (US$246m), compared to PHP11,057m in the same period a year earlier. EBITDA in the 1H22 came in at PHP4132m, marking a 13 per cent YoY decline. EBIT was down 16 per cent to PHP3501m over the same period, while net income contracted by 20 per cent to PHP2966m. The cost of goods sold in the 1H22 stood at PHP8856m, up 49 per cent from the PHP5934m seen in the 1H21, while operating expenses e... |
Lucky Cement's domestic capacity to rise to 15.3Mta09 August 2022, Published under Cement NewsLucky Cement Ltd announced its financial results for the 4QFY21-22 (April-June 2022) on 5 August 2022 and held a corporate briefing session at the Pakistan Stock Exchange (PSX) to discuss the company’s outlook. Expansion of the Pezu cement plant in Pakistan's Khyber Pakhtunkhwa province to 3.15Mta is progressing well and is expected to cost PKR30bn (US$133.6m), according to Lucky Cement. This brownfield expansion in the north of the country is scheduled to come on-line in December 2022... |
Taiheiyo Cement posts 1Q revenue of JPY177bn09 August 2022, Published under Cement NewsJapanese cement producer Taiheiyo Cement Corp saw a 10.6 per cent increase in group revenue to JPY176.52bn (US$1308.5m) in the 1QFY22-23 when compared with JPY159.61bn in the equivalent period of the previous financial year. Operating profit was down 87.8 per cent from JPY9.92bn in the 1QFY21-22 to JPY1.21bn in the 1QFY22-23 while pretax profit contracted by 79.1 per cent to JPY2.19bn from JPY10.48bn during the same period. The company reported a JPY220m net loss in the 1QFY22-23, comp... |
Mangalam Cement reports 43% uptick in income in 1QFY2309 August 2022, Published under Cement NewsMangalam Cement has reported a 42.9 per cent YoY increase in total income to INR5181.7m (US$65.13m) in the 1QFY23, compared to INR3625.1m in the same quarter a year earlier. Over the same period, net profit declined by 19.8 per cent to INR28.1m, while earnings per share fell 19.8 per cent to INR10.22, compared to INR12.75 in the 1QFY22. Compared QoQ rather than annually, the company’s total income advanced by 12.7 per cent in the 1QFY23 versus the 4QFY22. Over the same period, net profi... |
Birla Corporation hit by escalating fuel costs08 August 2022, Published under Cement NewsBirla Corp Ltd has reported a 25.2 per cent increase in revenue to INR22,180.6m (US$278.8m) in the first quarter of FY22-23, despite tepid cement demand. However, profitability was hit by rising power, fuel and freight costs, along with the costs incurred with the optimisation of the newly-commissioned Mukutban plant in eastern Maharashtra. Commercial production at the plant began on 30 April 2022 with capacity at the unit expected to reach 3.9Mta, taking the company's total production cap... |
Margins affected by 10% super tax08 August 2022, Published under Cement NewsPakistan cement companies listed on the Pakistan Stock Exchange (PSX) are scheduled to announce their financial results for FY21-22 in August-September. The cement industry has fingers crossed to see their top line, which is likely to be impacted by the government's imposition of a one-time surcharge on the previous year's income. The Inter Market Securities Ltd estimated that higher tax and interest would chop earnings of the top seven companies. IMS Cement Universe's (comprising Lucky ... |
Northern Region Cement reports 9% drop in 1H net profit08 August 2022, Published under Cement NewsNorthern Region Cement Co posted net profits after zakat and tax of SAR48.09m (US$12.8m) in the first half of 2022, down 9.1 per cent from SAR52.9m in the 1H21. Revenues declined by 13.2 per cent in the 1H22 to SAR266.68m when compared with SAR307.19m in the 1H21. In the second quarter of 2022, Northern Region Cement Co reported net profits after zakat and tax worth SAR24.74m, up 17.6 per cent YoY from SAR21.04m in the 2Q21. Revenues decreased by 8.2 per cent YoY to SAR133.42m from S... |
BUA Cement achieves net revenue of NGN188.6bn in 1H2205 August 2022, Published under Cement NewsBUA Cement reported net revenue in the 1H22 up 51.7 per cent to NGN188.6bn from NGN124.3bn (US$452m), compared to the corresponding period ended June 2021. This included added volumes for the new line 4 at Sokoto . EBITDA increased by 49.7 per cent to NGN87.5bn from NGN58.4bn comprard to the 1H21. EBITDA margin fell marginally by 0.6 percentage points to 46.4 per cent from 47 per cent, in June 2021. Profit after tax rose 41.4 per cent to NGN61.4bn from NGN43.4bn, in the 1H21. Cement v... |
Buzzi Unicem regional performances in 1H2205 August 2022, Published under Cement NewsBuzzi Unicem reported positive development of deliveries in the United States, central Europe, Poland and the Czech Republic in the 1H22, as well as a continued slowdown in Italy and Ukraine. In Ukraine, at the end of February 2022, Buzzi Unicem was obliged to suspend production and commercial activities in both of our factories. At the end of March, with the repositioning of the conflict in the east and south-east of the country, the activity resumed at the Volyn plant, in the northwes... |