Cement News tagged under: corporate
CRH to divest European Distribution business to Blackstone02 August 2019, Published under Cement NewsCRH plc has agreed to divest its European Distribution business to private equity funds managed by Blackstone for EUR1.64bn, subject to regulatory approval. The sale includes CRH's entire General Builders Merchant business in Europe, including its sanitary heating and plumbing business. It supplies building materials to professional builders, specialists contractors and DIY customers through a network of local and regional brands across six countries in western Europe. The divestment follo... |
Dalmia Bharat reports 192% increase in net profit02 August 2019, Published under Cement NewsIndia’s Dalmia Bharat Ltd has reported a 192.3 per cent YoY increase in consolidated net profit for the quarter ending 30 June, rising to INR1.52bn (US$21.82m) from INR520m. EBITDA was up 27.3 per cent to INR6.66bn from INR5.23bn. Total revenue advanced 7.1 per cent to INR25.81bn, compared with INR24.11bn in the 1QFY18-19. Cement sales volumes were fairly consistent with the year-ago period at 4.55Mt from 4.51Mt, with the flat YoY growth attributed to general elections spanning the first t... |
Saudi Cement producers profits recover in 2Q1902 August 2019, Published under Cement NewsSaudi Cement posted net income of SAR92.3m (US$24.613m) in 2Q19 and profits were up 59 per cent in the period compared to 2Q18, but declined by 30.3 per cent compared to 1Q19. The company recorded cement sales of SAR338.6m and received average prices of SAR217.6/t. "The YoY increase is mainly attributed to improved selling price and volumetric sales, despite an increase in administrative expenses. Deviation in 2Q earnings from our estimates is mainly ascribed to higher-than-expected cost... |
Gulf Cement Co posts net loss in 2Q1902 August 2019, Published under Cement NewsUAE-based Gulf Cement Co has posted an AED598,270 (US$162,905) net loss in the 2Q19, compared to an AED8.4m profit in the year-ago period. Sales costs increased to AED107m from AED101m. In the first half of 2019, profit saw a considerable decline of 84 per cent YoY to AED856,500. The company attributed the fall to a two per cent decrease in revenue and a 25 per cent rise in general, administrative and selling expenses to AED12m. |
Holcim Philippines sees 28% fall in sales for 2Q1901 August 2019, Published under Cement NewsHolcim Philippines has reported a 17 per cent YoY fall in net attributable profit to PHP716.15m (US$13.98m) for the 2Q19, while sales dropped 28 per cent to PHP7.28bn. In the first half of 2019, attributable profit declined nine per cent to PHP1.42bn and sales decreased 18 per cent to PHP15.38bn. However, EBITDA advanced 9.5 per cent to PHP3bn. "We continued to deliver value to our customers and shareholders by sustaining actions to manage our costs and improve operational efficiency de... |
Wonder Cement completes third line at Nimbahera01 August 2019, Published under Cement NewsIndia’s Wonder Cement (RK Group) has launched the third line of its facility in Nimbahera, Chittorgarh, taking total capacity to 11Mta. The new capacity was built in one year at an investment of INR11bn (US$159.29m), taking the total cost of the three units to INR41bn. "This increases our overall capacity to 11Mta, which places us well on track to meet the burgeoning demand in the premium segment of the market. We have further expansion plans across the country soon," said Sanjay Joshi, ex... |
Lafargeholcim Bangladesh reports 46% net profit surge01 August 2019, Published under Cement NewsLafargeHolcim Bangladesh has announced a 46 per cent YoY increase in net profit for the second quarter of 2019, according to a recent statement. The company also saw a 15.4 per cent rise in revenue to BDT4.5bn (US$52.9m) for the 2Q19, compared to BDT3.9bn of the year-ago period. "The 2Q19 results demonstrate the strong performance trend which continues from 2018. Our focus on raising profitability through commercial innovation, operational efficiency and cost control continues to pay off.... |
SCG reports falling revenue in Vietnam01 August 2019, Published under Cement NewsThailand’s Siam Cement Group (SCG) has seen a seven per cent YoY drop in its revenue from sales in Vietnam to VND7.9trn (US$339m) in the 2Q19, according to Vietnam News. Revenue from sales in Vietnam finished at VND14.6trn in the 1H19, consistent with the year-ago period, and accounted for nine per cent of the group’s total revenue. Currently, the company’s assets in Vietnam are valued at VND55.75trn. |
LafargeHolcim doubles net income and reports 4% net sales growth31 July 2019, Published under Cement NewsLafargeHolcim posted a like-for-like (LfL) net sales growth of 3.5 per cent YoY in the first half of 2019. Sales increased from CHF13.272bn (US$13.4bn) in the 1H18 to CHF13.059bn with gains in all regions but particularly thanks to favourable market conditions in Europe and north America. Recurring EBITDA (pre-IFRS16) increased 10.8 per cent to CHF2.662bn from CHF2.484bn in the previous year’s first six months. Net income attributable to share holders of LafargeHolcim Ltd more than doubled... |
Eagle Materials notes record cement sales in 1Q31 July 2019, Published under Cement NewsUS-based Eagle Materials Inc has reported a six per cent YoY fall in revenue to US$370.5m for the quarter ending 30 June 2019. However, revenue in the Heavy Materials (cement, concrete and aggregates) segment saw a three per cent improvement to US$234.7m. Operating earnings decreased five per cent to US$40.6m, which has been attributed to increased fixed and freight costs alongside poor weather. “Our cement sales volume was up three per cent to a record 1.6Mt in the first quarter despite... |