Cement News tagged under: corporate
India Cements plans INR14bn plant project08 August 2019, Published under Cement NewsIndia Cements is reportedly in the process of acquiring land in Madhya Pradesh for a new plant project which would take its total capacity to 20Mta, according to The Economic Times. The company has already acquired a company with an existing mining lease to use its limestone reserves. The project is worth around INR14bn (US$197m), with the producer expected to compete the final land investments over the next few months. |
Dangote Cameroon sees 7% sales drop08 August 2019, Published under Cement NewsDangote Cameroon has posted a 7.1 per cent drop in sales in the 1H19 when compared with the 1H18. "Our 1.5Mta clinker mill in Douala sold about 0.6Mt of cement in the first half of 2019, down 7.1 per cent from 0.64Mt sold in the first half of 2018. We estimate that our market share was 40 per cent during the period, "says Dangote. "The decrease in our sales can be attributed to persistent security concerns in the North West and Southwest regions, which resulted in a reduction in activity, ... |
Eagle Cement Corp announces 44% rise in net profit07 August 2019, Published under Cement NewsPhilippines-based Eagle Cement Corp has announced a 44 per cent YoY rise in net profit for the first six months of 2019 to PHP8.2bn (US$156.7m), while also reporting a 21 per cent increase in sales volume and higher selling prices. In the 2Q19 net income surged 39 per cent to PHP1.7bn and revenues showed 22 per cent growth to PHP5.1bn. "We will continue to leverage on the growing [demand for] local cement, led by the private sector, and supported by the infrastructure push of the gover... |
Sagar Cements records 22% rise in production for July07 August 2019, Published under Cement NewsIndia’s Sagar Cements has seen a 22.3 per cent increase in consolidated cement production to 281,597t in July 2019, compared with 230,193t in the year-ago period. Standalone production rose 21.2 per cent to 200,808t from 165,629t. Consolidated cement sales also surged 25.1 per cent to 274,822, against 219,748 in July 2018. |
Sumitomo Osaka sees 3% fall in net profit07 August 2019, Published under Cement NewsJapan’s Sumitomo Osaka Cement has announced a 2.5 per cent YoY fall in net profit to JPY2.1bn (US$19.7m) for the quarter ending 30 June. Sales were down by 2.1 per cent to JPY58.9bn while pretax profit decreased 10.6 per cent to JPY3bn. However, operating profit saw a 3.5 per cent increase to JPY2.8bn. The company has forecast a 53.9 per cent rise in net profit to JPY12bn for the full fiscal year ending March 2020. Sales are expected to advance 2.5 per cent to JPY257.4bn and pretax profit ... |
GCCA announces annual conference07 August 2019, Published under Cement NewsThe Global Cement and Concrete Association (GCCA) has announced that ‘Innovation in Focus’ will be the theme of its annual conference, which takes place at the Sofitel Singapore City Centre on 10 October 2019. "This conference is an important opportunity for the global industry to come together and discuss some of the opportunities and challenges we face. With its key focus on innovation, the conference boasts an exciting programme and demonstrates the cement and concrete industry’s commit... |
Rock Hard Cement wins classification ruling07 August 2019, Published under Cement NewsBarbados-based Rock Hard Cement Ltd has won a final court ruling regarding the classification of its cement and therefore its related tariff. "Today’s judgment settled the dispute as to whether Rock Hard Cement ought to be classified as ‘Building cement (grey)’ and be charged a CARICOM tax of 15 per cent when imported into the region, or as ‘Other hydraulic cement’ in which case a levy of 0-5 per cent would be payable," said the Caribbean Court of Justice (CCJ) in a statement. Earlier... |
Arkan sees 55% net profit increase in 1H1906 August 2019, Published under Cement NewsUAE-based Arkan Building Materials has announced a 55 per cent YoY increase in net profit to AED33.8m (US$9.2m) for the 1H19. The positive result has been attributed to cost management schemes, the award of an insurance claim and proceeds from the Emirates Cement Factory sale. However, group revenue declined 8.9 per cent to AED458.9m, compared with AED503.8m in the 1H18. The fall was a result of market price pressure as export markets saw a slowdown, according to the company. |
Mangalam Cement posts record quarterly profit06 August 2019, Published under Cement NewsIndia’s Mangalam Cement has reported a record net profit of INR330m (US$4.66m) for the quarter ending 30 June, following an INR150m net loss in the year-ago period. Operational revenue surged 31 per cent YoY to INR3.33bn from INR2.55bn, while the EBITDA margin improved to 20.4 per cent from 1.9 per cent. |
Sharjah Cement sees 85% drop in profit for 1H1906 August 2019, Published under Cement NewsUAE-based Sharjah Cement has seen an 84.7 per cent YoY fall in profit to AED2.54m (US$691,626) for the 1H19, compared with AED16.55m in the year-ago period. The company also reported an 8.5 per cent decline in revenue to AED291.43m from AED318.48m. In the 2Q19, profits slipped 60.2 per cent to AED1.74m from AED4.37m. Revenue decreased 5.1 per cent to AED138.31m, against AED145.81m in the 2Q18. |