Cement News tagged under: corporate
Caribbean Cement reports 237% increase in net profit01 May 2019, Published under Cement NewsJamaica’s Caribbean Cement Co Ltd has announced a two per cent YoY revenue increase to JMD4.45bn (US$33.35m) for the first quarter of 2019. However, its net profit surged 237 per cent from JMD334m to JMD1.13bn. The significant increase in net profit follows the company’s debt refinancing last year, which saw it buy back assets from its immediate parent Trinidad Cement Ltd. The result is Caribbean Cement’s highest profit outturn for 12 straight quarters, according to the Jamaica Gleaner. ... |
Saudi Cement Co sees 7% decline in 1Q net profit01 May 2019, Published under Cement NewsSaudi Cement Co reported a 6.9 per cent YoY fall in its net profit in the 1Q19. After taxes and zakat, net profit reached SAR132.4m (US$35.3m), down from SAR142.2m in the 1Q18, according to a statement to the Saudi Stock Exchange on Tuesday. The YoY drop in profit was attributed to higher sales and marketing expenses, a rise in general and administrative expenses, a growth in Islamic financing as well as a decline in the company’s share in net results of associates. When compared with th... |
Cementos Argos sets new production record in Dominican Republic01 May 2019, Published under Cement NewsCementos Argos set a new cement production record in the Dominican Republic. The cement mill at its Nayajo plant in San Cristóbal produced 50,194t of cement, the highest production in its 20 years of operation. The cement works has a cement capacity of 0.542Mta. |
Pacasmayo sees net profit edge up in the 1Q1930 April 2019, Published under Cement NewsPeru-based Cementos Pacasmayo SAA reported a rise in sales volumes of cement, concrete and precast of 5.4 per cent YoY in the 1Q19 on the back of higher cement sales to the public sector. However, despite the higher sales, revenues in January-March 2019 remained level when compared with 1Q18, mainly due to high prices realised in the 1Q18. Consolidated EBITDA edged up 2.8 per cent QoQ and remained in line with the 1Q18 at PEN93.6m (US$28.3m). The cement EBITDA margin advanced by 3.3 perc... |
Kohat Cement records 18% sales increase30 April 2019, Published under Cement NewsPakistan’s Kohat Cement Company Ltd (KCCL) has announced a 5.4 per cent YoY fall in profit after tax for the nine months ended 31 March, decreasing to PKR2.17bn (US$15.3m) from PKR2.29bn. However, sales increased by 17.9 per cent to PKR12.24bn during the 9MFY18-19. The company incurred a distribution cost of PKR109.4m, rising 16.4 per cent YoY from PKR94m in the year-ago period. Administrative expenses reached PKR191.7m compared to PKR150.7m in the corresponding period of the last fiscal. |
Lafarge Maldives Cement celebrates 20th anniversary30 April 2019, Published under Cement NewsLafarge Maldives Cement recently celebrated 20 years of service in the construction industry of the Maldives. Lafarge Maldives Cement operates a terminal in Thilafushi, Maldives During this time, the company installed a 9400t cement storage silo in Thilafushi and a 1t jumbo packing machine. Over time, it has introduced 25 and 50kg bagged cement as well as 1t jumbo bags into the Maldives market. The company has also supported a safety culture in the Maldives by continuously imp... |
Transaction of major stake in Dandot Cement is completed30 April 2019, Published under Cement NewsDandot Cement Co Ltd has informed Pakistan Stock Exchange (PSX) that Calicom Industries has acquired 63,542,787 shares of the company. Earlier, the company had reported that it received an intention from Calicom Industries to acquire control and 63,542,787 voting shares (67 per cent of paid-up capital) of the company. The buyer is expected to invest in the modernisation of electrical equipment at its facilities. In the FY18 capacity utilisation at Dandot Cement stood at 44 per cent and... |
Pioneer Cement announces 28% fall in net profit30 April 2019, Published under Cement NewsPakistan’s Pioneer Cement Limited (PCL) has announced a 28.1 per cent YoY decrease in net profit to PKR825m (US$5.82m) for the nine months ended 31 March, compared to PKR1.14bn in the year-ago period. However, net sales increased 3.8 per cent to PKR10.43bn from PKR10.05bn. The company incurred a distribution cost of PKR132m against PKR114m in the 9MFY17-18. Administrative expenses also rose 22.1 per cent to PKR83m from PKR68m incurred in the same period last year. The company has a cem... |
INC to launch new cement product30 April 2019, Published under Cement NewsParaguayan state-owned cement producer, Industria Nacional del Cemento (INC) will introduce a new cement product, CP 2-C 40, designed for concrete structures such as bridges and road. The new cement, which brings the company’s product portfolio to four, is expected to arrive on the market in June 2019. |
Dangote Cement sees volumes rise, revenues down in 1Q1929 April 2019, Published under Cement NewsDangote Cement reported increased volumes of 6.3Mt, up 2.3 per cent YoY, in the first quarter of 2019. However, group revenues slipped 0.8 per cent to NGN240.2bn (US$668m) and group EBITDA fell 11.2 per cent to NGN111.8bn. Nigeria Despite a subdued domestic economy, Nigeria’s cement market remained robust, expanding by six per cent in the 1Q19. However, the rate of growth slowed in February and March. As a result, Dangote’s Nigerian operations supplied nearly 4Mt, its third-highest qua... |