Cement News tagged under: corporate
Thatta Cement's profit falls to PKR183.9m in 6MFY17-1819 March 2018, Published under Cement NewsThatta Cement Co Ltd's profit after tax fell from PKR389.8m (US$3.5m) to PKR183.9m (US$1.6m) during 6MFY17-18. Clinker production stood at 194,825t with a capacity utilisation of 76.4 per cent in comparison to clinker manufacture of 236,135t and capacity utilisation of 92.6 per cent during the corresponding period of last year. Lower off take of cement and accumulation of huge clinker stocks were cited as reasons for the decline in clinker production. Overall sales of the company during ... |
PPC Zimbabwe to resume exports19 March 2018, Published under Cement NewsPPC Zimbabwe says it will leverage on an enhanced export incentive which the cement producer has been granted by the Reserve Bank of Zimbabwe (RBZ) to break even and resume exports despite high production costs, according to The Zimbabwe Independent. The central bank has approved the company’s application for an export incentive above the usual five per cent. PPC Managing Director Kelibone Masiyane said that the company’s export levels have dropped from 0.1Mta in 2014-15 to zero as cu... |
PT Semen Indonesia announces 56% fall in net income19 March 2018, Published under Cement NewsPT Semen Indonesia has announced an almost 56 per cent YoY drop in net income for the full-year 2017 period, decreasing to IDR2.01trn (US$146m) from IDR4.52trn. According to a Thomson Reuters I/B/E/S poll, the results fell beneath the average estimate of IDR2.28trn expected for the year. |
Eagle Cement's net profit rises to US$82m16 March 2018, Published under Cement NewsPhilippine-based Eagle Cement Corp increased its net profit last year by four per cent to PHP4.26bn (US$82m) on strong sales volumes. Excluding expenses from its initial public offering, net profit rose by five per cent to PHP4.33bn last year, the company disclosed to the Philippine Stock Exchange on Friday. Eagle Cement reached PHP14.87bn in net sales in 2017, a 12 per cent YoY increase. "We have continued to beat our operational targets in terms of volume growth and cost efficiencies.... |
LafargeHolcim Algérie targets 5Mt of exports to west Africa16 March 2018, Published under Cement NewsFollowing its first export shipment of cement to Gambia in December 2017, LafargeHolcim Algérie plans to export 5Mt of cement to west Africa by 2020, according to Serge Dubois, the company’s communications director. Exporting "cannot be done without the mobilisation of public authorities,” Mr Dubois said. “The State is speeding up the signing of the association agreements with the ECOWAS countries, and it is the only market available and within reach of the Algeria, especially as that of ... |
JK Cement chairman says consolidation will help correct oversupply issue16 March 2018, Published under Cement NewsYadupati Singhania, chairman of JK Cement, has stated that consolidation will help correct the supply overhang in the cement industry, according to The Economic Times. "Consolidation in a way is good for the industry as it will take care of the excess supply," he said. "Today, there is at least 25 per cent excess supply as compared to the demand. This overhang is not good and it is the reason why you don't get the right price for your products." New capacity While consolidation may be g... |
Yanbu Cement reports 39% fall in profit for 201716 March 2018, Published under Cement NewsSaudi Arabia’s Yanbu Cement has reported a 39.4 per cent YoY decrease in profit for the full-year 2017 period, falling to SAR319m (US$85.07m) from SAR526m. The company has attributed the results to a decline in sales volume and the average price of sales, according to Mubasher. In the 4Q17 profit dropped 7.7 per cent to SAR96m, compared with SAR104m of the year-ago period. |
NCC announces 39% drop in profit for 201716 March 2018, Published under Cement NewsDubai-based National Cement Company (NCC) has announced a 38.7 per cent YoY decrease in profit during the full-year 2017 period, to AED53.58m (US$14.59m) from AED89.02m. According to a company statement, the board has recommended the distribution of AED53.8m in cash dividends for 2017, with a per-share dividend of AED0.15, as a result. The projected dividends account for 15 per cent of its capital. |
Mombasa Cement increases market share15 March 2018, Published under Cement NewsMombasa Cement has dislodged East Africa Portland Cement Co (EAPCC) from the second position in Kenya with a market share of 15.8 per cent, while EAPCC has dropped to third place with a market share of 15.1 per cent. Mombasa Cement's Nyumba brand just lies behind LafargeHiolcim's Bamburi Cement, which dominates the sector with a 32.6 per cent market share, according to Construction Kenya. The latest round of company results has seen both EAPCC and ARM Cement hit by falling revenues and... |
New 6000tpd Saudi cement plant for Al Baha Cement15 March 2018, Published under Cement NewsSaudi Arabia’s Al Baha Cement Co plans to built a new cement plant with a capacity of 6000tpd of sulphate-resisting Portland cement as well as the potential to produce white and grey cement. The project represents an investment of US$100m, for which the company will be raising finance from banks. The carry out the funding process, Al Baha Cement is inviting to submit bids for a financial consultancy contract. The Al Baha Chamber of Commerce and Industry and Saudi investors have formed... |