Cement News tagged under: corporate
Tabuk Cement sees sales down 18% YoY13 August 2020, Published under Cement NewsSaudi Arabia’s Tabuk Cement has seen a 94 per cent YoY decline in net profit to SAR0.54m (US$144,000) in the June quarter of 2020, against SAR8.98m in the year-ago period. Sales also declined 18.3 per cent YoY to SAR49.99m from SAR61.15m in the 2Q19. |
Chairman reflects on tough period at UltraTech Cement's AGM13 August 2020, Published under Cement NewsKumar Mangalam Birla, chairman of UltraTech Cement (Aditya Birla Group), opened the 20th Annual General Meeting on 12 August 2020, via video conferencing and reflected on the company's 1Q20-21 performance. Mr Mangalam Birla said the company's annual report's theme this year was 'Tough times don’t last; tough companies do'. "And your company is as tough as it gets!" he added. He announced that UltraTech's net sales in 1Q20-21 reached INR75.63bn (US$1.01bn), compared to INR112.29bn in the... |
Star Cement reports 36% fall in total income13 August 2020, Published under Cement NewsIndia’s Star Cement has reported a 36.4 per cent YoY fall in total income to INR2.98bn (U$39.77m) in the first quarter of the FY20-21, compared with INR4.68bn in the year-ago period. The company’s net profit also decreased 48.4 per cent YoY to INR433m from INR838.8m in the year-ago period. |
InterCement appoint new chairman13 August 2020, Published under Cement NewsInterCement Participações SA reports that Franklin Feder has resigned from the Board of Directors of InterCement after nearly three years and Wilson Nelio Brumer becomes the new chairman of the Board of Directors. Mr Brumer has worked as CEO at Vale, Acesita and Usiminas and brings experience form being on the Board of Directors at BHP Billiton, Cemig, CCR, Direcional Engenharia, Embraer, Localiza, Metso and Fundação Renova. |
Taiheiyo Cement's operating profit rises 17% YoY12 August 2020, Published under Cement NewsJapan’s Taiheiyo Cement announced a 41.8 per cent YoY decline in net profit to JPY3.2bn (US$29.96m) for the quarter ending June 2020. However, operating profit advanced 17.1 per cent YoY to JPY7bn while sales edged downwards by three per cent to JPY200.5bn. The cement sales volumes for its China business decreased due to the impact of COVID-19. |
Loma Negra sees 30% decline in revenue for 2Q2012 August 2020, Published under Cement NewsArgentina’s Loma Negra has announced a 30.1 per cent YoY decline in net revenue to ARS7453m (US$104m) in the second quarter of 2020. Consolidated adjusted EBITDA was also down 24.6 per cent to ARS2077m, while the margin climbed from 25.8 to 27.9 per cent. "Cement demand in Argentina in the second quarter contracted around 32 per cent YoY and around four per cent when compared sequentially with the previous quarter. Taking a closer look on the behaviour of our demand, we observed that the in... |
Eagle Cement sees 61% decline in net profit12 August 2020, Published under Cement NewsPhilippines-based Eagle Cement Corp has reported a 61 per cent YoY decline in net profit to PHP1.3bn (US$26.54m) for the first half of 2020, while net sales fell 44 per cent to PHP5.9bn. In the 2Q20 the company saw a drop in net profit to PHP128m from PHP1.7bn last year. Net sales also decreased 73 per cent YoY to PHP1.4bn. "These are very difficult times, but we remain confident that the economy will recover from this pandemic and emerge stronger. The government’s steady push for the co... |
Shree Cement sees 14% fall in net profit12 August 2020, Published under Cement NewsIndia’s Shree Cement has seen a 13.5 per cent YoY fall in net profit to INR3.3bn (US$44.17m) for the June quarter of FY20-21, compared with INR3.82bn in the year-ago period. Revenue also declined 24 per cent to INR24.8bn from INR33.02bn. However, expenses also decreased 25 per cent to INR21.63bn due to lower raw materials costs. The company’s EBITDA dropped 22 per cent YoY to INR7bn, while EBITDA/t finished at INR14.22bn. |
Arkan Building Materials sees profits decline to AED2.1m in 1H2011 August 2020, Published under Cement NewsArkan Building Materials reported 1H20 profits declining to AED2.1m (US$571,818) as construction activity became disrupted in UAE due to the pandemic. Last year the company reported profits in 1H19 of AED 33.7m, boosted by the sale of Emirates Cement Factory. Revenue this year has reached AED387.4m, down from AED458.8m last year. Cement revenues fell to AED196.5m from AED282.7m last year, while cement-led profit amounted to AED7.91m, down from AED45.69m. Concrete block and dry mortar revenu... |
Dangote to test US$90 power plant for Mtwara cement factory11 August 2020, Published under Cement NewsDangote Cement will test run a new US$90m gas-fired power plant in Mtwara, Tanzania, later this month. The plant has been delayed with the outbreak of COVID-19, but it will supply the Mtwara cement plant and reduce Dangote Cement's reliance on coal imports. The new power plant is due to be fully commissioned in November. The Mtwara plant has not operated at full capacity during 2020, but the new power plant should help energy efficiencies. "We have had mechanical failures of some main equ... |