Cement News tagged under: corporate
Cemex Holdings Philippines raises PHP12.7bn from SRO31 January 2020, Published under Cement NewsCemex Holdings Philippines completed a stock rights offering last week, raising PHP12.77bn (US$250.6m) from selling 8.29bn common shares. The proceeds are expected to be used to fund Solid Cement’s Antipolo expansion project and pay outstanding debt. "Post-SRO and subject to the approval from the Securities and Exchange Commission (SEC) of Cemex’s application for increase of authorised capital stock, Cemex would have a total of issued and outstanding 13,489,226,623 common shares," said ... |
Ciments de Bizerte posts 32% increase in turnover in 201931 January 2020, Published under Cement NewsIn the 4Q19 Tunisia-based Ciments de Bizerte saw its local turnover increase by 56.6 per cent YoY to TND29.068m (US$10.3m) from TND18.559m in the 4Q18. Export turnover reached TND2.561m. For the full-year 2019 Ciments de Bizerte reported a 32.3 per cent rise in turnover to TND97.104m, up from TND73.388m in 2018. In terms of clinker production, the company manufactured 242,409t in the 4Q19, up from 119,631t in the 4Q18. Cement output advanced by 33.4 per cent to 186,888t in the last quarter... |
Ramco Cements records 5% revenue rise31 January 2020, Published under Cement NewsIndia’s Ramco Cements saw a 6.3 per cent YoY decline in standalone net profit for the quarter ending 31 December 2019, falling to INR950m (US$13.28m) from INR1.01bn. However, revenue increased 5.3 per cent YoY to INR12.86bn, while EBITDA also advanced 4.7 per cent to INR2.21bn. "During the current quarter, the company witnessed sluggish demand in its core markets coupled with pressure on prices due to active monsoon. Demand in eastern markets was more visible during the current quarter, bu... |
Orient Cement reports modest decline in income31 January 2020, Published under Cement NewsIndia’s Orient Cement has reported a 1.3 per cent YoY decline in total income to INR5.67bn (US$79.3m) during the 3QFY19-20. However, the company considerably narrowed its net loss to INR56.7m from INR137m. In the nine months to December 2019, total income remained flat YoY at INR17.78bn from INR17.81bn. Meanwhile, it posted a net profit of INR425.2m against a INR144.3m loss during the year-ago period. Elsewhere, the company has also approved the resignation of its CFO, Sushil Gupta, wit... |
Lucky Cement reports profit fall during 1H2030 January 2020, Published under Cement NewsLucky Cement Ltd of Pakistan has announced its financial results for 1HFY19-20, posting earnings of PKR1.937bn (US$12.54m), down 65 per cent when compared with earnings of PKR5.501bn reported for the 1HFY18-19. Revenues also fell by 15 per cent YoY to PKR 21.211bn in the 1HFY19-20, largely due to a slowdown of demand coupled with weaker pricing resulting from the industry's demand-supply gap. Commenting on results, a local research house attributed the fall in profits to pricing weakness, ... |
JK Lakshmi Cement records 251% surge in net profit30 January 2020, Published under Cement NewsIndia’s JK Lakshmi Cement has seen a 251 per cent YoY surge in its net profit to INR493.1m (US$6.92m) in the October-December 2019 period, compared with INR140.5m in the previous year. Sales rose seven per cent YoY to INR10.05bn from INR9.35bn, while EBITDA advanced 48.5 per cent to INR1.67bn. The improved results were attributed to a reduction in logistic costs and improvements in fuel prices. During the nine months until December 2019, net sales increased 10.1 per cent YoY to INR29.82b... |
Shree Digvijay Cement announces 9% rise in income30 January 2020, Published under Cement NewsIndia’s Shree Digvijay Cement has announced an 8.5 per cent increase in total income to INR1.23bn (US$17.2m) for the 3QFY19-20, compared with INR1.13bn in the year-ago period. Net profit also advanced to INR94.4m from an INR3.6m loss in the year-ago period. In the nine months ending December 2019, income rose 4.2 per cent YoY to INR3.43bn and net profit surged 671.7 per cent to INR332.6m. |
Τitan launches its Group Digital Centre of Competence30 January 2020, Published under Cement NewsTitan Cement Group has launched its Group Digital Center of Competence, to improve its operational efficiency and competitiveness, and to develop new ways of connecting with its customers. The Group Digital Center of Competence is part of the group's Digital Initiative, launched in May 2017. During the last three years, Titan has introduced multiple digital and advanced analytics pilots and solutions focussing on real-time production optimisation, asset failure prediction with machine lear... |
Siam Cement sees 32% decline in profit for the 4Q1929 January 2020, Published under Cement NewsThailand’s Siam Cement has seen a 32 per cent YoY decrease in profit to THB7.1bn (US$230.3m) for the October-December 2019 period. Overall revenue fell nine per cent YoY to THB106.18bn. Revenue from its cement and building material segment was down one per cent at THB45.14bn, due to lower sales in markets outside of southeast Asia, according to the company. Elsewhere, revenue from its chemicals business fell 23 per cent to THB41.35bn. For the full-year 2019, Siam Cement saw a 28 per ce... |
National Cement Co launches new 0.75Mta plant in Kenya29 January 2020, Published under Cement NewsKenya’s National Cement Co (Devki Group) has launched a new 0.75Mta facility in Salgaa, Nakuru County, representing an investment of around KES5.8bn (US$57.5m). The plant will manufacture the company’s Simba Cement product and is expected to generate 700 jobs. Narendra Raval, chairman of Devki Group, has stated that National Cement’s overall production capacity will rise from 2Mta to 3.5Mta by July following ongoing expansion projects, which includes a 0.75Mta brownfield expansion to the... |