Cement News tagged under: corporate
Rain sends Caribbean Cement profits down01 November 2019, Published under Cement NewsCaribbean Cement Co’s 3Q profit was affected by heavy rains at the end of summer and a large tax charge, according to the cement producer. In addition, higher operational expenses further impacted profit. Some of the costs were associated with the demolition of a large obsolete structure at its Rockfort plant near Kingston, Jamaica. Sales revenue in the third quarter fell to JMD4.38bn (US$31.8m) from JMD4.46bn in the 3Q18. Profit before tax declined 55 per cent YoY to JMD238m while profi... |
Profitability review 1QFY19-20 of nine top Pakistan companies01 November 2019, Published under Cement NewsPakistan research house Spectrum Securities Ltd, while reviewing nine top cement companies' performances for the 1QFY19-20, has concluded that cement sector continues to be in turmoil, due to the shrinking construction activities, higher interest rates and excess installed capacity. Therefore, during the first quarter of FY19-20, the sector posted a net loss. Analysts from Spectrum Securities Ltd observed that in the 1QFY19-20, industry sales fell by six per cent YoY to PKR52.734bn (US$338... |
Dangote Cement Group's unaudited 9M19 results see volumes rise 1.1%31 October 2019, Published under Cement NewsDangote Cement Group's unaudited results for the 9M19 to 30 September 2019 saw group volumes up 1.1 per cent to 18Mt and Nigerian sales up 0.6 per cent to 10.8Mt, driven by strong 3Q19 promotional activity. Pan-African cement volumes rose by 1.7 per cent to 7.1Mt for the 9M19. However, group revenue fell by 0.8 per cent to NGN679bn (US$1.88bn) and group EBITDA slipped by 10.1 per cent to NGN303.2bn. Joe Makoju, Group Chief Executive Officer said: "The huge success of our Bag of Good... |
MoU signing for 0.5Mta Cimenterie Industrielle de Kribi plant31 October 2019, Published under Cement NewsOscar Minko, managing director of Cimenterie Industrielle de Kribi (Cmikri) Sarl, and the Chinese consortium China National Building Material Co Ltd (Sinoma/Afcham) have signed a memorandum of understanding (MoU) in Yaoundé, for the construction of a cement plant in the Kribi industrial port complex. Once completed, the average yearly distribution capacity of this plant will be 0.5Mta, expandable to 1.5Mta. The project requires the installation of an 18,000t silo for clinker and a 4000t sil... |
BUA Group consolidates cement subsidiaries31 October 2019, Published under Cement NewsBUA Group, has announced the consolidation of its subsidiaries Cement Company of Northern Nigeria Plc (CCNN) and Obu Cement Company Plc. The move is part of its bid to deepen the Nigerian capital market and enhance the growth of the cement industry, said BUA Group. Commenting on the development, the Founder & Executive Chairman of BUA Group, Abdul Samad Rabiu, said this consolidation would mark the culmination of the first phase of the BUA mid-term strategic plan for its cement businesses,... |
Azerbaijan Gazakh cement plant to raise output30 October 2019, Published under Cement NewsAzerbaijan-based Gazakh cement plant plans to raise its cement output from a current 1Mta to 1.2Mt by the end of the year. A further increase is scheduled for next year, when the facility’s output target is 1.5Mt. Cement production at the works advanced by 25 per cent YoY due to the installation of modern equipment that increased production capacity at the plant to 3300tpd. |
Asia Cement (China) Holdings Corp posts 40% 9M profit rise30 October 2019, Published under Cement NewsAsia Cement (China) Holdings Corp has reported a 16.3 per cent advance in revenues to CNY9.18bn (US$1.299bn) in the 9M19 when compared with CNY7.89bn in the 9M18, according to Reuters. Attributable profit came in at CNY2.24bn in the nine-month period, representing a 40 per cent increase YoY from CNY1.6bn. Cementitious sales are expected to reach 30.9Mt in the FY19. |
Southern Province Cement reports 46% rise in 3Q sales30 October 2019, Published under Cement NewsSaudi cement producer Southern Province Cement Co saw its net profit after zakat and tax surge to SAR90.3m (US$24m) in the 3Q19 from SAR5.4m in the 3Q18. Third-quarter sales rose by 45.9 per cent to SAR286m in 2019 from SAR196m in the year-ago period. The company also noted a 8.1 per cent YoY fall in finance costs. |
Tanga Cement sees 1H sales slip 1%, net loss widens30 October 2019, Published under Cement NewsTanzania-based Tanga Cement saw its first-half sales edge down by one per cent YoY to TZS97.63bn (US$42.4m) in 2019 from TZS98.88bn in the1H18, according to the company’s unaudited results for the six months ended 30 June 2019. Gross profit fell to TZS24.98bn in the 1H19 from TZS25.56bn in the year-ago semester while operating profit declined to TZS1.17bn from TZS6.77bn over the same period. Net loss widened from TZS1.79bn in the first six months of 2018 to TZS10.23bn between January-June... |
FLSmidth records 3Q19 order intake down 36%29 October 2019, Published under Cement NewsFLSmidth's order intake for the 3Q19 amounted to DKK4571m (US$704.5m), a decline of 36 per cent compared to the 3Q18. The performance is explained by a sharp decline in the capital order intake that was partly offset by a record-high service order intake, combined with the exceptionally strong comparative quarter in 2018 that included two large cement plant orders worth a total of about DKK1.9bn. The order backlog decreased to DKK16,088m from DKK16,762m at the end of 2Q19. The market for ... |