Cement News tagged under: corporate
Kuwait Portland Cement records 26% decline in profit24 February 2020, Published under Cement NewsKuwait Portland Cement has announced a 26.4 per cent YoY decrease in 2019 profit to KWD7.59m (US$24.88m), compared with KWD10.32m a year earlier. Operating revenue also declined 19.5 per cent to KWD85.23m from KWD105.94m in 2018. In the 4Q19, the company saw net profit dip 43.6 per cent YoY to KWD1.41m from KWD2.5m in the year-ago period. |
GCC reports record 4Q19 US net sales21 February 2020, Published under Cement NewsGrupo de Cemento de Chihuahua (GCC), the Mexican cement producer that serves cement and concrete markets in USA, Mexico and Canada had 4Q19 consolidated net sales increased 11 per cent to US$228.6m, while EBITDA increased by 49.6 per cent to US$86.4m in 4Q19. GCC's consolidated net sales in 2019 increased by 5.8 per cent to US$934.1m. EBITDA increased 13.9 per cent to US$ 292m. During 2019 GCC opened a new cement terminal opened in Fort Stockton, Texas, USA. Two long-term agreements were ... |
Ambuja Cement sees revenue up 6% in the 4Q1921 February 2020, Published under Cement NewsIndia’s Ambuja Cement (LafargeHolcim) has reported a 47.6 per cent YoY decline in consolidated net profit to INR7.22bn (US$100.4m) for the December 2019 quarter, against INR13.78bn in the year-ago period. Revenue from operations was up six per cent YoY to INR71.26bn from INR67.29bn. The company also saw stand-alone sales volumes advance 6.7 per cent YoY to 6.54Mt in the 4Q19. "Ambuja continued its growth momentum and delivered yet another strong quarter, driven by a robust topline perf... |
Fauji Cement reports shrinkage in profit for 1HY1921 February 2020, Published under Cement NewsCement players in Pakistan continue to report losses due to increase in cost of sales and finance charges during first half of the current financial year 2019-20. Fauji Cement continued this trend reporting financial losses today. Fauji Cement Co Ltd (FCCL) announced its financial results for the half year ended 31 December 2019 with a net profit of PKR482.18m (US$3.13m), which decreased by 73.6 per cent YoY, as compared to PKR1.82bn in the same period last year. The fall in profit was attr... |
Malayan Cement announces 4Q19 net loss of US$9.1m21 February 2020, Published under Cement NewsMalayan Cement Bhd remained in the red in 4Q19, making a net loss of MYR38.55m (US$9.1m). The group has changed its financial year end to 30 June 2020 from 31 December 2019 after the emergence of YTL Cement Bhd as its largest shareholder. The better performance came despite revenue declining to CMY446.87m from CNY548.16m previously, no thanks to lower domestic sales that were partially offset by higher export sales. For the 12-month period ended 31 December 2019, Malayan Cement's net loss ... |
SungShin Cement posts 11% net profit rise21 February 2020, Published under Cement NewsSouth Korea’s SungShin Cement has reported a full-year revenue of KRW714.64bn (US$590.2m) in 2019, 3.9 per cent up when compared with KRW688.07bn reported in 2018. However, operating profit fell 30.2 per cent YoY from KRW29.27bn to KRW20.43bn in 2019. Net profit rose 11.4 per cent from KRW16.61bn to KRW18.5bn in 2019. |
Ambuja Cements names Neeraj Akhoury as MD and CEO21 February 2020, Published under Cement NewsAmbuja Cements has appointed Neeraj Akhoury as its new managing director and chief executive officer with effect from 21 February 2020, the company said in a press release. He will succeed from Bimlendra Jha, who resigned to pursue other interests. Mr Akhoury was previously MD and CEO of ACC Ltd and has 27 years of experience across multiple roles including sales and marketing, logistics and corporate affairs. Mr N S Sekhsaria, Ambuja Cements’ chairman, said: "We are pleased to have Nee... |
Profit of Bestway Cement falls in 1HY1920 February 2020, Published under Cement NewsBestway Cement Ltd (BWCL) announced its financial results for the half year ended 31 December 2019. According to financial results sent to Pakistan Stock Exchange (PSX), today, the company declared earning of net profit of PKR421m (US$2.73m), which was decreased by 94 per cent YoY, as compared to PKR6.88bn in the same period last year. The major reasons can be attributed were the high cost of financing and fall in gross turnover during this period. BWCL's net sales decreased by 17.7 per ce... |
LafargeHolcim CEO endorses worldwide initiative to promote human rights20 February 2020, Published under Cement NewsLafargeHolcim CEO, Jan Jenisch, has joined today the Call to Action for Business Leadership on Human Rights by the World Business Council for Sustainable Development (WBCSD). Leaders who join the initiative commit to making human rights more than just a risk and compliance issue for their companies – they will actively promote them as part of their company's commitment to social responsibility. "I hope that by giving my personal commitment to this Call to Action we can highlight the i... |
FDI grows in Pakistan but cement and construction sectors lag behind19 February 2020, Published under Cement NewsPakistan received a net total foreign direct investment (FDI) of US$1.563bn during first seven months of FY19-20 (July 2019 - January 2020) compared to US$943.6m in the comparative period of a year earlier. This represents an increase of 65.70 per cent YoY, mainly due to a high inflow of investment from China, Norway, Japan, Malta, South Korea and other countries in all sectors, according to the State Bank of Pakistan. However, the increasing FDI trend has not been evidenced in the country'... |