Cement News tagged under: corporate
India Cements doubles net profit in FY19-2025 June 2020, Published under Cement NewsIndia Cements reported consolidated net profit of INR534.6m in FY19-20 when compared with INR252.6m in FY18-19. Total income rose from INR58.1bn in FY18-19 to INR52.231bn in FY19-20. India Cement's net loss in the 4QFY19-20 reached INR117.6m when compared with a profit of INR325.7m in the 4QFY18-19. The company incurred a one-time loss of INR1bn owing to coronavirus uncertainty in the quarter under review. Total income stood at INR11.98bn in 4QFY19-20 when compared with INR16.23bn in the y... |
Oman Cement Co sees 27% fall in profit25 June 2020, Published under Cement NewsOman Cement Co has posted a 26.7 per cent fall in profit after tax to OMR1.1m (US$2.86m) for the first quarter of 2020, compared to OMR1.5m in the 1Q19. The company’s total sales saw a modest 1.5 per cent YoY decline to OMR13.6m from OMR13.4m. |
Vicat sees improved activity in May24 June 2020, Published under Cement NewsFrance-based cement producer Vicat has provided an update of business levels in May, noting a marked improvement when compared with market performance in March and April. In France business activity has been improving steadily since the low point of mid-March and by the end of May, the level was slightly lower than that recorded in the year-ago period. Switzerland also continues to perform well. The challenging macroeconomic and competitive environment in Turkey and Egypt continue to aff... |
Semen Indonesia eyes expanding export volume in 202024 June 2020, Published under Cement NewsPT Semen Indonesia Tbk remains optimistic that the cement market will improve and to boost its volumes, it will target export markets in 2020. "The addition of capacity allows us to open new markets in the region, with a target of more than 2019," said Semen Indonesia Director of Marketing and Supply Chain, Adi Munandir, during the annual general meeting of shareholders (AGM) in Jakarta on 19 June. Launching last year's sales report, Semen Indonesia booked an export volume of 3.66Mt, up 1... |
Crown Cement cuts employee salaries24 June 2020, Published under Cement NewsBangladesh-based Crown Cement has decided to reduce the salaries and other benefits of its employees by 20.5 per cent as it attributes an unprecedented loss in the current financial year to the coronavirus pandemic. However, the employees in the sales department of the company will see a 4.4 per cent increase in their salaries, according to an anonymous official of the cement company as reported in the Daily Sun newspaper. He also said that the cement industry has started to feel the imp... |
GCCA names Dinah McLeod as new CEO24 June 2020, Published under Cement NewsThe Global Cement and Concrete Association (GCCA) has appointed Dinah McLeod as CEO, effective from early July. Ms McLeod succeeds Benjamin Sporton. Dinah most recently served as a Director of ‘The B Team’, an innovative and standard-setting non-profit initiative which was established to improve business practices to enhance the well-being of people and the planet. She has previously held senior sustainability roles with the Overseas Development Institute, the UK’s largest development rese... |
Misr Insurance reduces Misr Cement-Qena stake24 June 2020, Published under Cement NewsMisr Insurance Co has lowered its stake in Misr Cement-Qena from 9.3 to 4.68 per cent, Misr Asset Management said in a statement to the Egyptian Exchange on 23 June. The insurance company sold 3.33m shares for EGP20.74m (US$1.28m) at an average price of EGP6.23/share. |
Elementia appoints new CEO24 June 2020, Published under Cement NewsMexico’s Elementia has appointed Jaime Rocha Font as its new CEO, with effect from 2 September 2020. Mr Rocha Font will take over the position from Fernando Ruiz Jacques, who has held the role since February 2015. Mr Rocha Font is the current head of Elementia’s cement division and thereby serves as the CEO of Cementos Fortaleza. Alongside this, he has been the president of the country’s National Cement Chamber since 2019. "I appreciate the work and dedication that Fernando Ruiz carrie... |
PT Semen Indonesia to pay IDR239bn dividend23 June 2020, Published under Cement NewsPT Semen Indonesia Tbk (SMGR) will pay a dividend of IDR239bn (US$16.9m) or 10 per cent of SMGR's net profit in 2019 which reached IDR2.39trn, down 22.3 per cent YoY. Per share, the dividend amounts to IDR9500, representing a yield of 0.42 per cent. "The remaining 90 per cent will be used for other reserves," explained the company’s Director of Marketing and Supply Chain, Adi Munandir, during the annual general meeting of shareholders (AGM) in Jakarta on 19 June. Mr Munandir added that th... |
Votorantim appoints Juan Aguilera as new industrial director Cementos Cosmos23 June 2020, Published under Cement NewsVotorantim has named Juan Aguilera as the new industrial director of Cementos Cosmos. Mr Aguilera will supervise the management of the company’s four cement plants and two grinding units in Spain. He has been employed by Cementos Cosmos for almost 20 years, holding positions such as the management of the Niebla and Córdoba cement plants as well as the Bobadilla grinding unit in Malaga. Following a period as director of operations for Votorantim Cimentos in Brazil, he has returned to Spain,... |