Cement News tagged under: corporate
San Luis rotary kiln burner ignited27 February 2020, Published under Cement NewsOn 21 February 2020 the main burner of the rotary kiln in the Lindos project for Cementos Avellaneda at San Luis, Argentina, was successfully ignited. SINOMA-TCDRI was the contractor for the project. The successful ignition marks the start of the trial production and performance test phase from the installation and commissioning stage. |
Boral posts lower 1H earnings26 February 2020, Published under Cement NewsBoral Ltd reported a statutory net profit after tax (NPAT) of AUD137m (US$90m) for the half-year ended 31 December 2019, after significant items of AUD20m. The half-year results reflects lower 1H earnings from Boral Australia and USG Boral due to cyclical declines in Australian and South Korean housing markets, partially offset by improvement initiatives. Volume pressures and higher costs also affected earnings of Boral North America. EBITDA of AUD439m and EBITDA from continuing operations ... |
Qatar National Cement Co to diversify product range to meet infrastructure demands26 February 2020, Published under Cement NewsQatar National Cement Co (QNCC) has reaffirmed its support to the country's infrastructure development, adding that it will diversify its product range by adding new products to meet the growing local demand. QNCC Chairman, Salem bin Butti al-Naimi, said the company must increase efforts to "diversify the production by adding new types of cement to meet the demand of local market and utilise the opportunity of exporting to external markets." The company had last year said it was looking to... |
Najran Cement reports SAR53.5m profit in 201926 February 2020, Published under Cement NewsSaudi Arabia’s Najran Cement Co has reported a net profit of SAR53.5m (US$14.27m) in 2019, a significant improvement upon the SAR83.5m net loss in the previous year. Sales also advanced 49.6 per cent YoY to SAR416.4m from SAR278.4m in 2018, on the back of an increase in sales volumes and prices. |
Maple Leaf Cement posts loss despite increasing sales during 6MFY19-2026 February 2020, Published under Cement NewsPakistan-based Maple Leaf Cement Factory Ltd (MLCF) has announced its consolidated financial results for the half year ended 31 December 2019. It incurred a net loss of PKR1.76bn (US$11.41m) as compared to profit of PKR1.33bn earned in the same period last year. This shows YoY losses at 32.5 per cent. The major factors responsible for this fall were the increase in cost of sales and the huge finance cost. A local brokerage house while reviewing Maple Leaf financial results has pointed out ... |
Cementos Argos sees 11% rise in revenue for 201925 February 2020, Published under Cement NewsColombia’s Cementos Argos saw a 11.4 per cent YoY rise in consolidated revenue to COP9.3trn (US$2.71bn) in 2019. EBITDA increased 14.3 per cent YoY to COP1.75trn, while its operating income advanced 1.7 per cent to over COP838bn. However, the company's net profit declined 31.7 per cent to COP122bn from COP179bn in 2018. The fall was attributed to a US$9m US tax provision relating to its successful asset divestment plan, according to a press release. Cementos Argos dispatched 16Mt of cemen... |
Thatta Cement's profits slip in 1HY19-2025 February 2020, Published under Cement NewsPakistan's Thatta Cement Company Ltd (THCCL) has announced its consolidated financial results for the half year ended 31 December 2019. It posted a profit of PKR116m (US$0.75m), representing a 61.4 per cent fall YoY, as compared to PKR300m earned in the same period last year. The major factor responsible for this drop were lower sales and increased finance costs. THCCL's net sales during the reporting year decreased by 35.5 per cent to PKR1.50bn from PKR2.33bn during the same period last ... |
Gharibwal Cement posts loss in 1HY1925 February 2020, Published under Cement NewsGharibwal Cement Ltd (GWLC) of Pakistan has announced its financial results for the half year ended 31 December 2019. GWLC incurred a net loss of PKR245m (US$1.58m) as compared to a profit of PKR593m earned in the same period last year. The drop was attributed to the increase in cost of sales, selling and distribution expenses as well as a higher finance cost in the July-December 2019 period. The company sales also decreased by 6.2 per cent to PKR5.16bn from PKR5.51bn in the same period l... |
Dewan Cement profit succumbs to fall in sales in 1HY19-2025 February 2020, Published under Cement NewsDewan Cement Ltd (DCL) of Pakistan has announced its financial results for the half year ended 31 December 2019. It incurred a net loss of PKR172m (US$1.15m) as compared to profit of PKR328m earned in the same period last year. The losses can be attributed to a drastic fall in net sales and a modest increase in distribution cost and administrative expenses. The company's sales also decreased by 37.1 per cent to PKR4.04bn from PKR6.42bn in the same period last year. DCL incurred a higher dis... |
ACC and Ambuja Cement announce new MDs & CEOs25 February 2020, Published under Cement NewsACC (LafargeHolcim group) has appointed Sridhar Balakrishnan as its new managing director and chief executive officer for five years effective from 21 February 2020. Mr Balakrishnan will be taking over the position from Neeraj Akhoury, who has resigned with effect from close of business hours of 20 February 2020. Mr Akhoury will take over the role of MD and CEO of Ambuja Cements from 21 February 2020 but will continue as a non-executive member of ACC's board of directors. Meanwhile, Bimlen... |