Cement News tagged under: corporate
Sri Chakra Cement slides into loss12 February 2018, Published under Cement NewsSri Chakra Cement, based in the Indian state of Andhra Pradesh, has reported a net loss in INR-19.1m (US$ 297,038) in 3QFY17-18 ended 31 December 2017 when compared with INR81m in the previous quarter. The company’s net revenue declined by 8.7 per cent to INR519.7m in the October-December quarter. In 3QFY16-17 net revenues reached INR568.9m. Operating expenses during the 3QFy17-18 increased by 14 per cent to INR528.4m from INR463.7m YoY while other income more than tripled from INR... |
LafargeHolcim announces new regional structuring12 February 2018, Published under Cement NewsLafargeHolcim has also announced a new organisation structure of the group and regions. Under the new structure, 35 markets now report directly to the Region Heads, instead of 20. "This will strengthen our emphasis on developing and executing winning market strategies, thereby fully empowering the profit and loss responsibility of the countries," said Jan Jenisch, LafargeHolcim CEO. Among the key changes, Philipp Leutiger has joined the Group as Chief Digital Officer to create global, ... |
Cemex’s lower trading profit offset by lower tax rate/interest charge09 February 2018, Published under Cement NewsCemex' turnover improved by 2.4 per cent in 2017 to US$13,672.2m. EBITDA declined by 9.1 per cent to US$1725.2m and the trading profit fell by 15.8 per cent to US$1523.1m. The net interest charge, however, declined by 10.9 per cent to US$1022.3m, but still giving a pretax profit 22.9 per cent lower at US$723.4m. The tax charge was some 83 per cent lower and deconsolidated activities had also been profitable, giving a net attributable profit 7.5 per cent ahead at US$806.2m. Net debt, inclu... |
Buzzi Unicem expects to report EBITDA close to EUR580m09 February 2018, Published under Cement NewsBuzzi Unicem's turnover in 2017 improved by 5.1 per cent in 2017 to EUR2806m, with a like-for-like improvement of 3.7 per cent after adjusting for the acquisition of Zillo and currency movements. The company expects to report a preliminary EBITDA of nearly EUR580m in 2017 – below their latest guidance. The cement producer attributes the shortfall to a challenging environment in December and expects the impacting factors to be temporary and not affect the company's positive outlook for 2018. ... |
ACC releases 2017 results09 February 2018, Published under Cement NewsACC has released its consolidated financial results for the final quarter and full-year period ended 31 December 2017. Cement sales increased 14 per cent in 2017, to 26.21Mt from 22.99Mt of the previous year. Net sales reached INR129bn (US$2bn) in the full-year period, compared to INR107.7bn seen in 2016. Operating EBITDA advanced 29 per cent YoY to INR19.1bn from INR14.7bn. 4Q17 Cement sales in the 4Q17 registered growth of 27 per cent YoY to INR6.92Mt, backed by a stronger focus on pr... |
Cherat Cement's 1H profits up 32%09 February 2018, Published under Cement NewsCherat Cement (CHCC) announced earnings of net profit after tax of PKR1.34bn (US$12.1m) for the July-Dec 2017 period against PKR1.02bn in the corresponding period last year, showing a YoY growth of 31.6 per cent. The company also announced in a bourse filing an interim cash dividend of PKR1/share. The company's net sales increased from PKR4.08bn to PKR7.58bn during the period. Cherat Cement incurred a distribution cost of PKR165m and administrative expenses of PKR119m compared to PK... |
LafargeHolcim to provide solutions for two port projects09 February 2018, Published under Cement NewsLafargeHolcim will provide industrial solutions for two port projects in Ecuador and Morocco, according to SeeNews. Due to complete in 2020, LafargeHolcim Maroc will supply cement for the Nador West Med, an integrated port project. This includes precasting caissons, breakwaters and quay construction using cement suited to a marine environment. In Ecuador, the company’s local subsidiary has been contracted by CHEC to assist during the first phase of construction of the multi-purpose, deep-... |
Chip Mong See Cement inaugurates plant09 February 2018, Published under Cement NewsChip Mong Insee Cement Corporation has inaugurated its 2Mta plant in Kampot province, reports Reuters. Last Thursday’s ceremony was led by Cambodian Prime Minister Hun Sen. The facility was set up to meet the rising demand from the country’s construction sector, according to Hun Sen. The value of construction projects in the country rose 22 per cent YoY in 2017, reaching US$6.4bn. |
George Michos appointed CEO of LafargeHolcim Maroc09 February 2018, Published under Cement NewsGeorge Michos has been appointed CEO of LafargeHolcim Maroc, according to Medias24. Mr Michos has replaced Marcel Cobus in the role, who has moved to take charge of the Europe region on LafargeHolcim’s executive committee. Mr Michos has also been co-opted as a director of the company. George Michos previously held several senior positions within the group. Most recently, he has been the managing director of Heracles General Cement Co, Greece. |
PPC Zimbabwe reports loss of export competitiveness09 February 2018, Published under Cement NewsPPC Zimbabwe says the loss of export competitiveness is adversely affecting its operations and remains a risk to sustainable growth, reports the Chronicle. The fall in exports has been attributed to high production costs and cash shortages in the country. To counter the issue, the company has appealed to the Zimbabwe government to increase export incentives and protect firms against losses incurred when exporting to regional markets. “The cash shortage has adversely affected the compa... |