Cement News tagged under: corporate
Lucky Cement earns PKR12.20bn after-tax profit in FY1801 August 2018, Published under Cement NewsLucky Cement earned after-tax profit of PKR12.2bn (US$98.4m) in FY18 as compared to PKR13.69bn in the same period last year, said the company filing to PSX. Experts comment that Lucky Cement's net sales grew by only 4.1 per cent YoY to PKR47.54bn despite a 9.3 per cent YoY increase in dispatches, largely due to lower retention prices during the year. Cost of sales grew by 25 per cent YoY PKR30.59bn, mainly on account of elevated coal and fuel oil prices on the international market, the dev... |
CCNN appoints new independent directors01 August 2018, Published under Cement NewsThe Cement Co of Northern Nigeria (CCNN) has announced the appointment of Senator Khairat Abdulrazaq-Gwadabe and Shehu Abubakar as independent directors of the company. Effective from 12 July, the appointment also includes Abbas Ahmad Gandi as a non-executive director. Abdul Samad Rabiu, chairman of the CCNN board of directors, has reportedly stated that the installation of new board members is in line with the company’s commitment to the best corporate governance practices, according to T... |
Taiwan Cement to list GDRs on Luxembourg stock exchange01 August 2018, Published under Cement NewsTaiwan Cement Corp said Tuesday that it has issued US$549m-worth of global depositary receipts (GDRs). The GDRs, issued a day earlier, are scheduled to list on the Luxembourg stock exchange on 3 August, according to Taiwan Cement. The proceeds from the GDR sale will be used to invest in the company's subsidiaries overseas, which will help them repay part of their loans, while the funds will also be used to improve the company's financial structure, which is expected to lower its borro... |
Arabian Cement posts net loss in 2Q1801 August 2018, Published under Cement NewsSaudi cement manufacturer Arabian Cement has recorded a SAR50.9m (US$13.57m) net loss in the second quarter of 2018, compared with a SAR35.5m profit seen in the year-ago period. Net sales also saw a significant 51.5 per cent YoY fall to SAR107.8m from SAR222.4m in the period. |
HeidelbergCement's group revenue improves by 4% to EUR4.8bn in 2Q1831 July 2018, Published under Cement NewsHeidelbergCement group revenue rose by four per cent in the second quarter to EUR4.8bn from EUR4.6bn in 2Q17. However, negative currency effects of EUR226m had an adverse impact on revenue. Adjusted for currency and consolidation effects, revenue increased by nine per cent due to sales volume growth in all business lines and successful price increases. In the second quarter, the group's cement and clinker sales volumes rose by three per cent to 33.7Mt, up from 32.6Mt in 2Q17. Adjusted for ... |
Qassim Cement Q218 sees 65% profit fall31 July 2018, Published under Cement NewsSaudi cement producer Qassim Cement reported a 65.4 per cent fall in net profit to SAR18.4m in the second quarter of 2018, when compared with a net profit of SAR53.2m in 2Q17. Sales declined by 34.8 per cent from SAR135.1m in 2Q17 to SAR88.1m in the April-June 2018 period. |
InterCement IPO set for 201931 July 2018, Published under Cement NewsBrazil's InterCement Participações SA of Brazil plans an initial public offering (IPO) of its operations in Europe and Africa early next year, reports Reuters. InterCement would sell up to 49 per cent of the unit, which will group the activities in these countries, the sources added. In a statement to Reuters, InterCement confirmed the IPO plans. "InterCement is considering an IPO of its assets in Portugal and Africa, proceeding with the deleveraging process that has been publicly announ... |
Najran Cement losses surge to 651% in 2Q1831 July 2018, Published under Cement NewsSaudi Arabia’s Najran Cement’s losses reached SAR-31.73m (US$-8.46m) in the second quarter of 2018, representing an increase of SAR4.2m when compared with the 2Q17, according to a statement to the Saudi Stock Exchange (Tadawul). Quarter-on-quarter the company’s losses increased 212 from SAR18.18m. Najran has attributed the slide to a drop in average selling prices, combined with a fall in sales volumes as demand has fallen and competition increased. Higher production and finance costs... |
SCG Vietnam reports 20% revenue increase in 1H1831 July 2018, Published under Cement NewsSiam Cement Group (SCG) Vietnam has announced a 20 per cent surge in revenue to VND14.53trn (US$631.74m) in the first half of the year. The 2Q18 saw the company record a 28 per cent YoY rise in revenue to VND8.46trn, on the back of a large contribution from the packaging business, according to Viet Nam News. |
Uzbekistan plant to be commissioned in August30 July 2018, Published under Cement NewsUzbekistan’s Almalyk Mining and Metallurgical Combine is expected to commission its facility in Sherabad, Surkhandarya, in late-August. The plant aims to produce 1.5Mta once it reaches full capacity, and represents an investment of US$212.8m. The project was financed through a US$24.4m investment by the company, alongside a US$90m loan from the Fund for Reconstruction and Development of Uzbekistan and a further US$110.6m of loans from commercial banks, according to Business World. The pl... |