Cement News tagged under: corporate
Construction of Akhangarancement's new line is 90% complete02 September 2019, Published under Cement NewsConstruction of the new line at Eurocement’s Akhangarancement facility in Uzbekistan is now over 90 per cent completed, according to Ma Mingliang, general director of Beijing Triumph International Engineering Co. Around half of the 2,700t of metal structures delivered to the site have already been installed. At the same time, 4000t of equipment have already been delivered to the construction site. "The scale of construction, completed in just one year, is impressive," said Mikhail Skorokh... |
Pakistan makes GIDC workable for industries02 September 2019, Published under Cement NewsThe President of Pakistan, Arif Alvi, promulgated the Gas Infrastructure Development Cess - GIDC (Amendment) Ordinance 2019 to waive half of the outstanding liabilities of the fertiliser, textile, power generation, compressed natural gas (CNG) and cement sectors, last week. According to a local research house, the government has reportedly made amendments to the GIDC Act to recover the long standing overdue of the cess from various industries. Key highlights of the Act include 50 per cent ... |
PPC releases operational update for the 4MFY2030 August 2019, Published under Cement NewsSouth Africa's PPC has released an operational update for the four months to 30 July, noting a 5-10 per cent increase in group EBITDA due to positive price momentum in South Africa and cost optimisation initiatives. Average cement prices in its southern Africa region (including Botswana) rose 7-8 per cent in the period, however cement sales declined 10-15 per cent YoY on the back of a decrease in domestic demand. The company noted that importer and blender activity contributed to the comp... |
YTL Corp returns to profit in the 4QFY1930 August 2019, Published under Cement NewsMalaysia’s YTL Corp Bhd posted a net profit of MYR2.44m (US$578,705) for the 4QFY19, against a net loss of MYR63.54m in the year-ago period. Revenue increased 20 per cent to MYR5.04bn from MYR4.2bn in the 4QFY18. Except for its property and utilities business segments, the company recorded positive growth in profit before tax (PBT) in all its business divisions during the quarter. The construction division's PBT rose 63 per cent YoY to MYR44.7m, while cement manufacturing and trading's PB... |
Cahya Mata Sarawak sees decline in 1H19 net profit29 August 2019, Published under Cement NewsMalaysia's Cahya Mata Sarawak Bhd (CMS) recorded a 54.9 per cent decline in net profit to MYR41.33m (US$9.79m) for the 2Q19, compared with MYR91.63m in the year-ago period. However, revenue showed a modest increase to MYR399.17m from MYR395.28m. In the 1H19, net profit decreased 37 per cent to MYR82.1m, while revenue rose 8.9 per cent to MYR817.35m. The company has attributed the lower earnings to the higher cost of imported clinker and coal for its cement division, which is expected to ne... |
Vassiliko Cement sees 9% increase in total income29 August 2019, Published under Cement NewsCyprus’ Vassiliko Cement has seen an 8.9 per cent YoY increase in total income to EUR53.99 for the first six months of 2019, compared with EUR49.6m in the year-ago period. Profit after tax advanced 13.5 per cent to EUR10.1m from EUR8.9m in the 1H18. The company expects to exceed the previous year’s total income of EUR97.9m in the full-year period. |
Adelaide Brighton achieves 1H19 revenue of AUD755.7m28 August 2019, Published under Cement NewsAdelaide Brighton recorded 1H19 revenue of AUD755.7m (US$506.1m), down 6.3 per cent on 1H18 due to a softening of residential and construction demand. EBIT stood at AUD85.2m, presenting a decrease of 31 per cent, driven by rising material input costs and competitive pressures. Australia's residential construction approvals fell 25.6 per cent in the six months to June 2019, while construction is projected to hit a low in 2021. Cement sales volumes fell by eight per cent with a decline in th... |
Fauji Cement sees 17% decrease in profit28 August 2019, Published under Cement NewsPakistan's Fauji Cement Co recorded a 17 per cent fall in profit to PKR2.824bn (US$17.7m) for the year ended 30 June 2019, compared with PKR3.429bn in the FY18. Revenue was mostly unchanged at PKR20.8bn, while volumes dipped by 13 per cent YoY to 2.96Mt. Revenue declined four per cent YoY to PKR5.2bn during the 4QFY19, as higher retention prices offset some of the impact of a 16 per cent decrease in total sales to 710,000t. Local offtake dropped 15.3 per cent to 669,000t against 790,000t ... |
Boral reports net profit of AUD486m in FY1928 August 2019, Published under Cement NewsBoral reported net profit of AUD486m (US$325.7m) for the full year ended 30 June 2019, six per cent down on FY18. Sales revenue was steady at AUD5863m on FY18 and sales revenue for continuing operations of AUD5801m up four per cent. EBITDA reached AUD1037m compared to AUD1056m in FY18. "Boral’s full year results demonstrate the benefits of strong infrastructure activity in Australia and resilience of our underlying businesses, together with implementation of improvement initiatives and cos... |
Dongwu Cement reports 12% rise in 1H profit28 August 2019, Published under Cement NewsDongwu Cement reported a turnover of CNY251.739m for the first six months of 2019, representing an increase of 14.7 per cent YoY, according to a company to the Hong Kong Stock Exchange. The company’s cement business posted a gross profit margin decreased to 20.7 per cent from 22.8 per cent in the 1H18. The profit attributable to Dongwu Cement’s owners increased to CNY32.219m in the first half of 2019, a 12.4 per cent advance on the CNY28.671m reported in the year-ago period. The company ... |