Cement News tagged under: corporate
New plant announced for Uzbekistan02 November 2018, Published under Cement NewsA new 1200tpd cement production facility has been announced by Sweden's ABA GTS group to be built in Angren, Uzbekistan. The project is expected to be completed by November 2019. At an event held to lay the foundations, the company recognised the growing need for housing, social and road infrastructure in the country. Therefore, the new plant will assist with the rising demand for building materials in the domestic market. |
Saurashtra Cement reports 17% sales increase02 November 2018, Published under Cement NewsIndia's Saurashtra Cement has reported a net loss of INR37.2m (US$511,786) in the quarter ending 30 September 2018, falling from a net profit of INR100.7m in the year-ago period. However, the company's sales increased 16.7 per cent YoY to INR1.34bn from INR1.15bn. |
Najran Cement sees increased 3Q loss02 November 2018, Published under Cement NewsSaudi Arabia's Najran Cement saw its 3Q net loss after zakat and tax widen to SAR-23.7m (-6.32m) from SAR-17.1m in the year-ago period. The company’s 3Q sales fell nine per cent from SAR59.1m in 3Q17 to SAR53.8m in 3Q18. |
Arkan's 9M18 results are stable at AED676.9m01 November 2018, Published under Cement NewsArkan Building Materials Company (ABMC) reported that it achieved a net revenue of AED676.9m (US$184.3m) in 9M18 compared to AED677.6m during the 9M17. The growth in pipes, blocks and dry mortar sales offset the decline in clinker sales. Clinker sales were impacted by stiff competition, cheap imports from Iran and a slowdown in summer construction. Higher production costs also affected ABMC's profit margins, as the plant continued to import limestone from Oman, while a sustainable solutio... |
Unacem reports 38% rise in 3Q net profit01 November 2018, Published under Cement NewsPeruvian cement producer Unacem has reported revenues of PEN497.9m (US$147.7m) in the 3Q18, down 0.8 per cent from PEN501.8m in the 3Q17. Gross profit remained largely stable at PEN187.1m during the quarter, but operating profit rose seven per cent to PEN128.8m from PEN120.4m in 3Q17. Net profit in 3Q advanced to just under PEN49m, up 38 per cent from PEN35.5m in the year-ago period. In the first nine months of 2018, Unacem saw its revenues rise by 5.7 per cent from PEN1.382bn in 9M17 to P... |
Udayapur Cement back in production01 November 2018, Published under Cement NewsFollowing a month-long renovation and upgrade, Nepal’s government-owned Udayapur Cement has resumed production. The renovation was the first in the plant’s 31-year history and cost NPR90m. "We've resumed our operations and have started to send our cement in the market," Surendra Paudel, the factory's general manager said, adding that they'd need to do maintenance in the next 10 years. "If we had maintained the factory regularly, we'd not have to spend such hefty price," Mr Paudel added. ... |
Yanbu Cement 3Q profit slips01 November 2018, Published under Cement NewsYanbu Cement posted 3Q revenues of SAR153m (US$40.8m), down 11.6 per cent YoY when compared with SAR173m reported in 3Q17. The Saudi cement producer’s net profit (after zakat and tax) edged down from SAR18m in 3Q17 to SAR17m in 3Q18. |
Southern Province Cement's net profits fall to SAR3.5m in 3Q1801 November 2018, Published under Cement NewsSouthern Province Cement (SPC) reported a net profit of SAR5.3m (US$1.41m) in 3Q18, down 65 per cent QoQ and down 91 per cent YoY. "...with the current economic situation, low construction activities and high competition we don’t believe prices are going up in the near term," Al Rajhi added. In terms of sales, 4Q18 should witness a slight increase in profits for SPC as there are no holiday breaks, reported the Argraam news site. |
Calicom Industries applies to acquire Dandot Cement01 November 2018, Published under Cement NewsDandot Cement Co Ltd (DCCL) has informed Pakistan Stock Exchange that the company has received a firm intention from Calicom Industries (Pvt) Ltd, Lahore to its acquire control of DCCL and 63,542,787 voting shares (67 per cent of paid up capital) of DCCL beyond the thresholds prescribed under Section 111 of the Securities Act 2016 (the "Act"). This intention was notified to DCCL's board of directors on 31 October 2018, stated by Mr Muhamamd Kamran, Company Secretary to PSX. Calicom Ind... |
1QFY19 remains gloomy for cement industry in Pakistan01 November 2018, Published under Cement NewsPakistan's cement sector net earnings have dropped by 38 per cent YoY to PKR8.224bn (US$62m) in 1QFY19 on the back of a number of factors, including a surge in international coal prices (12 per cent YoY), the devaluation of the Pakistani rupee against the US dollar (18 per cent YoY) and higher fixed costs (depreciation and financial cost) on the account of plant expansion. This observation was made by market analysts at Karachi-based Spectrum Securities Ltd following their evaluati... |