Cement News tagged under: corporate
Lafarge Africa announces NGN34.3bn loss in 201717 May 2018, Published under Cement NewsMobolaji Balogun, Chairman of Lafarge Africa Plc, on Wednesday said the overall drop in domestic cement demand was instrumental to the group’s NGN34.3bn (US$95.1m) loss before tax in the 2017 financial year. Mr Balogun said the cement volumes sold in 2017 were lower by 15.6 per cent compared with 2016 and, as a result, operating profit plummeted to NGN7.9bn, as against NGN12.4bn the previous year. "Cement selling prices recovered in 2017 which helped to partly offset the impact on cost of ... |
Unacem’s profit down 53% in 1Q1817 May 2018, Published under Cement NewsPeruvian cement producer Unacem reported a 53 per cent fall in net profit to PEN157m in the first quarter of 2018. Unacem’s domestic dispatches decreased 0.6 per cent YoY to 1.199Mt. However, revenues increased by 1.1 per cent YoY due to a higher price realisation. Cost of sales went up 2.2 per cent when compared with 1Q17 as a result of higher maintenance costs, lowering the gross margin to 41 per cent in 1Q18 from 43 per cent in 1Q17. The company’s EBITDA expanded by 15 per cent... |
JK Lakshmi reports 62% rise in standalone net profit17 May 2018, Published under Cement NewsJK Lakshmi Cement reported a 62.3 per cent YoY rise in standalone net profit to INR338.4m (US$4.99m) in the 4Q18. The company’s total income saw a slight decrease of 0.8 per cent to INR9.23bn, compared with INR9.31bn seen in the year-ago period. However, the company has stated the results in the two periods are not comparable. "With introduction of GST, revenue from operations for current quarter and year are not comparable with corresponding quarter and year, since sales in current ye... |
Cemex invests in health & safety app17 May 2018, Published under Cement NewsCemex Ventures announced it invested in Prysmex, a Mexico-based start-up that offers an app to detect and helping to prevent workplace accidents through the Internet of Things and real-time data collection. Prysmex’s innovative solution features a web-based platform with a collaborative management app that monitors the environmental and geolocation variables of unsafe acts and conditions on customised 3D maps, enabling real-time decision-making and increased industry safety and productivit... |
Mangalam Cement records 8% sales increase in FY1816 May 2018, Published under Cement NewsIndia’s Mangalam Cement Ltd has reported a one per cent YoY increase in net sales for the quarter ending 31 March 2018, rising to INR3.102bn (US$45.76m) from INR3.072bn. Net profit advanced 29.7 per cent to INR45m, compared with INR34.7m of the year-ago period. In the FY18, the company’s net sales surged 7.9 per cent YoY to INR11.49bn (FY17: INR10.66m). However, net profit saw a significant fall of 68.9 per cent to INR113.8m (FY17: INR360.6m). |
Gharibwal starts its new VRM16 May 2018, Published under Cement NewsGharibwal Cement Ltd has started commercial operation of its 250tph vertical cement mill at its Ismailwal, plant, Pakistan. According to Company Secretary, Muhammad Shamail Javed, the new cement mill will help reduce the energy costs of cement grinding, while the excess cement grinding capacity will support future expansion plans. This new cement mill is the single-largest cement grinding mill presently in operation in Pakistan. Performance in nine months ended 31st March 2018 The compan... |
JK Cement doubles net profit to INR964.5m15 May 2018, Published under Cement NewsJK Cement's net profit more than doubled to INR964.5m (US$14.2m) for the fourth quarter ended March 2018. The company had posted a net profit of INR425.7m in the same quarter of the previous fiscal. The cement producer's total revenue during the quarter under review stood at INR13.69bn, up from INR12.55bn in the year-ago period. In the quarter under review, JK Cement reported tax expenses of INR265.3m as against INR745.8m in the corresponding quarter a year ago. For the fiscal year... |
CIMAF plans 0.3Mta works at Bouaké15 May 2018, Published under Cement NewsMorocco-based CIMAF plans to build a 0.3Mta cement plant at Bouaké, northern Côte dIvoire. "The Bouaké plant has a capacity of 300,000t. We have acquired the land and are preparing the permits to start construction," said Khalid Iben Khayat, CIMAF’s regional director. CIMAF started its first plant project in the country in November 2011. The 0.5Mta works, which represents an investment of XOF20bn (US$36.4m), entered operation in August 2013. The company invested a further XOF80bn in d... |
CMS sees 51% rise in profit15 May 2018, Published under Cement NewsMalaysia-based Cahya Mata Sarawak Bhd (CMS) has reported a 15.4 per cent rise in unaudited revenues to MYR354.987m (US$89.7m) in the quarter ended 31 March 2018 from MYR307.679m in the corresponding quarter of 2017. Profit before tax rose 27.8 per cent from MYR44.852m in 1Q17 to MYR56.958 in 1Q18 while profit attributable to ordinary shareholders of the parents advanced by 50.7 per cent to MYR38.977m from MYR25.864m in 1Q17. “For FY2018, we also expect to see upsides for quarry produc... |
LafargeHolcim appoints new CEO of US Cement15 May 2018, Published under Cement NewsLafargeHolcim has appointed Jamie Gentoso as the new CEO of its US Cement operations. Ms. Gentoso has previously worked as the senior vice president of concrete at Sika Corp US, and succeeds John Stull, who was recently announced as the CEO of Holcim Philippines. “Jamie has a proven track record in this industry, and her deep-seeded expertise and strong focus on the customer will be valued contributions to LafargeHolcim in the US,” said René Thibault, LafargeHolcim group executive committe... |