Cement News tagged under: corporate
Dangote Cement sees 45% rise in revenue05 August 2021, Published under Cement NewsNigeria’s Dangote Cement has posted a 44.8 per cent YoY rise in group revenue to NGN690.55bn (US$1.676bn) in the first half of 2021, compared to NGN476.85bn in the year-ago period. Group EBITDA also climbed 61 per cent to NGN351.06bn from NGN218.07bn in the 1H20, while the EBITDA margin increased to 50.8 per cent from 45.7 per cent. Overall group cement volumes advanced 26.1 per cent YoY to 15.28Mt from 12.11Mt, supported by strong demand across all operations. "We are pleased to report... |
Eastern Province Cement records 5% rise in profit05 August 2021, Published under Cement NewsSaudi Arabia’s Eastern Province Cement has announced a five per cent increase in net profit to SAR122m (US$32.53m) in the first half of 2021, against SAR116m in the 1H20. Sales also rose 12.8 per cent YoY to SAR429m from SAR380m. In the second quarter of the year, profits advanced 106 per cent YoY to SAR62m while revenue climbed 45 per cent to SAR212m. |
Sumitomo Osaka Cement posts 14% rise in profit05 August 2021, Published under Cement NewsJapan’s Sumitomo Osaka Cement has posted a 16.4 per cent YoY decline in profit to JPY43.78bn (US$399.57m) for the quarter ending 30 June 2021, compared to JPY52.35bn in the year-ago period. However, operating profit climbed 13.6 per cent YoY to JPY2.92bn from JPY2.57bn. |
Buzzi Unicem's net sales rise 6% in 1H2104 August 2021, Published under Cement NewsBuzzi Unicem's net sales in the 1H20 increased 5.8 per cent, standing at EUR1608.7m versus EUR1520.1m in 1H20, while EBITDA improved by 12.3 per cent, advancing from EUR313.9m to EUR352.5m. After amortisation and depreciation of EUR122.8m (EUR128.4m in the previous year), EBIT amounted to EUR229.7m (EUR185.5m in 1H20). The income statement for the 1H21 closed with a net profit of EUR209.7m, compared to EUR216.7m in the same period of 2020. Cement sales of the group in the first six mon... |
Orient Cement posts 246% YoY rise in profit04 August 2021, Published under Cement NewsIndia’s Orient Cement has posted a 17 per cent QoQ decline in operating revenue to INR6.9bn (US$92.95m) in the first quarter of FY21-22, compared with INR8.32bn in the previous quarter. EBITDA also slipped 8.5 per cent QoQ to INR1.85bn, while profit after tax was down 10 per cent to INR886m. However, on a YoY basis, the company’s profit after tax more than doubled from INR256.1m in the 1QFY20-21. "The cement industry is expected to witness a volume growth due to demand revival in infrastruc... |
City Cement sees 31% rise in profit04 August 2021, Published under Cement NewsSaudi Arabia’s City Cement has posted a net profit after tax of SAR49.7m (US$13.25m) in the second quarter of the year, up 30.8 per cent YoY on SAR38m in the year-ago period. Sales also climbed 10 per cent YoY to SAR119.8m from SAR108.9m in the 2Q20. |
Umm Al Qura Cement sees 17% decline in profit03 August 2021, Published under Cement NewsSaudi Arabia’s Umm Al Qura Cement has seen a 16.8 per cent decline in net profit to SAR49.45m (US$13.19m) in the first half of 2021, compared to SAR59.48m in the year-ago period. Sales also decreased 2.9 per cent YoY to SAR154.3m from SAR159.01m in the 1H20. The company also announced the resignation of its CEO, Fawaz bin Saleh Al-Mutairi, which will take effect from 1 September 2021. |
Bamburi Cement Ltd changes to Bamburi Cement PLC03 August 2021, Published under Cement NewsKenya-based Bamburi Cement Ltd has changed its name to Bamburi Cement PLC in compliance with the Companies Act 2015 following shareholders’ approval on 10 June 2021. The name change follows registration of the new name in line with provisions of the Section 53 of the Companies Act 2015, that requires companies that are both a limited company and a public company to be registered with a name that ends with 'public limited company' or the abbreviation 'plc'. 'The change of name applies only... |
Vortex Asia-Pacific reopens Shanghai office03 August 2021, Published under Cement NewsAs COVID-19 restrictions ease, solids and bulk handling components company Vortex Asia-Pacific is pleased to announce it has reopened a physical office in Shanghai, China. The new location is in the heart of downtown Shanghai and will serve Vortex’s customers in China and a variety of countries on the Asian continent. "We are extremely pleased that we can start to move on from the past 18 months and that our Asia-Pacific customers are getting all the support they need from our n... |
Holcim Brazil asset sale expected02 August 2021, Published under Cement NewsLafargeHolcim (Holcim group) is understood to be considering the sale of its assets in Brazil and CSN Cimentos, Cimentos Mizu and Cement Apodi (Titan Cement joint venture) are believed to be among the potential bidders. A report by Reuters says, Holcim would be looking for proceeds if US$1-1.5bn from the sale. Reuters spoke to two people said to be in the know about the potential sale and bidders. The sale is likely to see several of the named Brazilian cement producers set to acquire par... |