Cement News tagged under: corporate
Carthage Cement posts 16% drop in 1H revenues24 July 2020, Published under Cement NewsTunisia-based Carthage Cement has seen its revenues fall 16 per cent to TND102m (US$37m) in the 1H20 due to the stoppage of its operations between 28 March and 28 April 2020. Exports by the company dropped 92 per cent from TND12.4m in the 1H19 to TND1m in the first six months of 2020. However, exports to Italy restarted in June. Domestic sales slipped by one per cent YoY despite the stop in activity for more than a month. However, the company reduced its debt to TND440.7m by the end of J... |
Holcim Philippines expected to remain within group23 July 2020, Published under Cement NewsFollowing the lapse of sale agreement with San Miguel Corp earlier this year, Holcim Philippines is now expected to remain within LafargeHolcim, according to the company's CEO, John Stull, in an annual meeting on Wednesday. "We are very pleased to know that we are no longer in the sales process and we're very excited about the future working with one of the largest and most successful companies in the building material sector and we're happy to remain part of the group," said Mr Stull. Th... |
LafargeHolcim Bangladesh reports 6% increase in PAT23 July 2020, Published under Cement NewsLafargeHolcim Bangladesh has seen its profit after tax advance 6.2 per cent to BDT843m (US$9.94m) in the first half of 2020, against BDT794m last year. The company has noted the remarkable nature of the results, considering the impact of the COVID-19 pandemic. In the second quarter the cement producer saw revenue drop 41.3 per cent from BDT4.498bn in 2Q19 to BDT2.641bn in the 2Q20. Operating profit fell 62.9 per cent to BDT268.2m in the 2Q20 from BDT722.3m while profit after tax saw a 26.5... |
Dangote Cameroon appoints new MD23 July 2020, Published under Cement NewsDangote Cement Cameroon appointed Bertrand Thaïs Mbouck as new managing director, succeeding Abdullahi Baba. In addition to postings within the group, Mr Mbouck has also served as investment adviser at Cemac since January 2018 and held posts at Senegal-based SUWA between 2012-15. |
Qatar National Cement reports 32% fall in profit23 July 2020, Published under Cement NewsQatar National Cement has reported a 31.8 per cent YoY decline in net profit to QAR68.3m (US$18.76m) for the first half of 2020, compared to QAR100.1m in the year-ago period. The company also saw revenue fall 23 per cent YoY to QAR290.6m from QAR377.3m. |
Summit Materials announces 2Q results and new CEO22 July 2020, Published under Cement NewsUS-based Summit Materials saw a 24.5 per cent rise in operating income for the second quarter of 2020 to US$100.1m from US$80.4m in the year-ago period. Adjusted EBITDA also advanced 14.1 per cent YoY to US$160.2m from US$140.5m. Cement sales volumes declined 6.3 per cent YoY in the 2Q20, while prices were up 1.2 per cent. "Despite economic uncertainty, Summit experienced resilient demand and favourable weather conditions, particularly in Utah and Kansas, which led to record 2Q net reven... |
Twiga sees 33% rise in net profit for 1H2022 July 2020, Published under Cement NewsTanzania Portland Cement (Twiga) has reported a 33 per cent YoY increase in net profit to TZS34.94bn (US$15.05m) in the first half of 2020, against TZS26.19bn in the 1H19. "Despite strong competition in the cement manufacturing industry and uncertainties brought about by COVID-19, [we] delivered a strong operational result compared to [last year]," said Hakan Gurdal, chairman. The company also saw a 13 per cent rise in revenue to TZS181.45bn. "[We are] well positioned to meet this growin... |
Taiwan Cement and Oyak fined for JV notification failure22 July 2020, Published under Cement NewsChina's State Administration for Market Regulation (SAMR) has fined Taiwan Cement and Ordu Yardimlasma Kurumo (Oyak) for failure to notify the establishment of their joint venture, Dutch Oyak TCC Holdings BV, in 2018. SAMR considered the transaction to be notifiable in China, as Taiwan Cement and Oyak both had control over the joint venture and it met the turnover threshold, reports Lexology. Oyak transferred its existing Turkish cement business and assets to the joint venture in exchange f... |
SCAEK completes first stage API certification22 July 2020, Published under Cement NewsAlgeria-based Société des Ciments de Ain El Kebira (SCAEK) has succesfully completed the first phase of the American Petroleum Institute audit to certify petroleum cement as a new product manufactured by the cement producer. The first step was originally planned for last March but was then postponed to July 2020 due to the coronavirus pandemic. The company was awarded the API label in July 2019. The next monitoring stage is scheduled for March 2021, according to SCAEK. Once certified, the ... |
ACC reports 40% fall in net profit21 July 2020, Published under Cement NewsIndia’s ACC (LafargeHolcim) has reported a 40 per cent YoY decline in consolidated net profit to INR2.71bn (US$36.2m) in the first quarter of FY20-21, compared to INR4.55bn in the year-ago period. Total sales also fell 38 per cent YoY to INR25.2bn from INR40.59bn in the 1QFY19-20. Standalone revenue was down 37.3 per cent YoY in the June 2020 quarter, decreasing to INR26bn from INR41.49bn last year. The company’s cement business saw revenue slip 33 per cent YoY to INR25.5bn, while sales ... |