Cement News tagged under: corporate
Prism Cement reports 13% net sales increase in 4QFY1830 May 2018, Published under Cement NewsIndia’s Prism Cement Ltd has reported a 13.4 per cent YoY increase in net sales to INR16.14bn (US$238.94m) for the 4QFY18. EBITDA surged 40.3 per cent to INR1.69bn, while its EBITDA margin expanded to 10.6 per cent. However, profit after tax decreased 10.6 per cent to INR627m. The cement sector saw sales volume growth to 1.7Mt in the quarter, according to India Infoline. EBITDA/t increased to INR819/t from INR580/t of the year-ago period. |
Raysut Cement suspends production after Cyclone Mekuna damage30 May 2018, Published under Cement NewsRaysut Cement will shut down production in Oman for up to 10 days after the Tropical Cyclone Mekuna hit the company's Salalah factory on 25 May. Heavy rain and strong winds caused "external damage" and waterlogged the company's production facilities and stock yard. Raysut Cement's CEO, Joey Ghose, said the company's buildings had been battered by Cyclone Mekuna for two days. He said it was unclear how extensive the damage was, but added that Raysut insurers had been contacted over the issu... |
Burnpur Cement announces net loss in FY1830 May 2018, Published under Cement NewsIndia’s Burnpur Cement reported a INR39.5m (US$585,316) net loss in the quarter ending 31 March 2018, improving from the INR233.1m net loss of the year-ago period. Furthermore, sales increased 419.8 per cent to INR186.1m from INR35.8m. In the full-year FY18 period, the company recorded a INR444.9m net loss (FY17: INR597.7m). However, sales decreased 43.4 per cent to INR420.6m (FY17: INR743.4m). |
TCL announces TTD49m operating loss in 201730 May 2018, Published under Cement NewsTrinidad Cement Ltd (TCL) has announced its results for the full-year 2017 period, reporting an operating loss of TTD49m (US$7.26m) on the back of unprecedented storms in its eastern Caribbean markets and the economic downturn in Trinidad and Tobago. "These factors led to a decrease in revenue by nine per cent on a year-to-year basis compared to TTD1.7bn from 2016. Jamaica was an exception for TCL and continues to display robust economic growth, driving higher demand for our products in th... |
India Cements reports 56% slide in FY17-18 profits29 May 2018, Published under Cement NewsIndia Cements Ltd reported a 56 per cent fall in net profits for the year ending 31 March 2018. Consolidated net profit decreased to INR707.2m, down from INR1.631bn in the previous financial year. Revenues dropped by seven per cent from INR58.802bn in FY16-17 to INR54.567bn one year later. India Cements Vice-Chairman and Managing Director, N Srinivasan, attributed the slide in profits to a reduction of INR200/t in cement prices and higher fuel, energy and other production costs. Ho... |
Super-objection could prevent Mungret tyre burning plans29 May 2018, Published under Cement NewsMetropolitan councillors have approved plans for a joint submission against Irish Cement's Mungret plans to the Environmental Protection Agency (EPA). Irish Cement, which wants to burn used tyres at its plant in Mungret, has cleared all but the final hurdle to establish the EUR10m (US$11.6m) project. However, a group of local residents and councillors now hope to join with Clare County Council to provide a 'super-objection' to the proposals, which have already prompted over 2000 peopl... |
Ibeto Cement signs deal to receive US$850m in funding29 May 2018, Published under Cement NewsNigeria’s Ibeto Cement Co Ltd has signed a deal to receive US$850m in financing from Milost Global Inc, according to the New York-based private equity firm. The binding agreement includes US$500m in equity and US$350m of debt. The chairman of the Ibeto Group, Cletus Ibeto, has announced the company’s plan to grow beyond west Africa through the acquisition of other cement businesses within the next 12 months, according to Milost Global. The cement producer is currently developing two cement ... |
Lafarge Malaysia expect to 'break even' despite poor 1Q18 results29 May 2018, Published under Cement NewsLafarge Malaysia recorded its fifth consecutive quarter of net losses for the period ended 31 March this year, on weaker demand and higher competition, coupled with the increase in coal and petcoke prices. The fall in revenue was attributable to the lower sales recorded in the cement business – the biggest revenue contributor for the group at 85 per cent – due to soft market demand, increased industry capacity and pricing pressures. Lafarge Malaysia's CFO, Michael Lim Yoke Tuan, said, th... |
Saurashtra Cement records 43% net sales increase29 May 2018, Published under Cement NewsIndia's Saurashtra Cement Ltd has reported a 43 per cent YoY increase in net sales for the 4QFY18, rising to INR1.82bn (US$26.7m) from INR1.27bn in the year-ago period. Net profit saw a 486.2 per cent surge in the same period to finish at INR260m, with the result attributed to a tax credit. In the full-year period ending 31 March 2018, the company reported a 12.6 per cent YoY rise in net sales, while net profit advanced 349.4 per cent to INR139m. |
Dr Stefan Kern appointed new A TEC Group manager29 May 2018, Published under Cement NewsStarting 1 April 2018, Dr Stefan Kern will lead the A TEC Group. Wolfgang Hammer will hand over the management tasks completely to his former deputy. Stefan Kern started at A TEC in August 2013 and was responsible for sales activities in northern Europe, eastern Europe and South Africa. In 2016 Dr Kern, who studied chemical engineering in Vienna, joined the management board. Together with Wolfgang Hammer he has led the company but takes over the management tasks completely from now on. |