Cement News tagged under: corporate
FLSmidth reports positive overall results08 February 2018, Published under Cement NewsFLSmidth released its annual report on Wednesday and reported a five per cent order increase to DKK19.17bn (US$3.15bn) in 2017, driven by stronger offtake in the minerals division in 2H17 and by total service activities, but revenue declined one per cent to DKK18bn. Full-year EBITA advanced 18 per cent YoY to DKK1.515bn from DKK1.289bn in 2016, while the corresponding EBITA margin rose from 7.1 to 8.4 per cent. "2017 probably marked the trough of the business cycle, and based on our goo... |
Taiheiyo Cement sees revenue increase in 9M1708 February 2018, Published under Cement NewsTaiheiyo Cement has reported its financial results for the nine-month period ended 31 December 2017. The group revenue has increased to JPY653.06bn (US$5.95bn) from JPY592.21bn seen in the year-ago period. Similarly, operating profit grew to JPY48.68bn from JPY44.23bn of the 9M16. However, net profit has fallen considerably, finishing at JPY32.53bn in the 9M17 (9M16: JPY57.12bn). The company also released its outlook for the fiscal year period ending March 2018. The group revenue is expec... |
Dewan Cement strikes deal with Mega Conglomerate08 February 2018, Published under Cement NewsMega Conglomerate Pvt Ltd has agreed to acquire a 87.5 per cent stake in Pakistan’s Dewan Cement, according to a bourse filing by BMA Capital Management Ltd. The acquisition will see 75 per cent shares pass hands through agreement and a further 12.5 per cent through a public offering. The deal follows a week of roller coaster movements, according to Pakistan Today. The amount of the acquisition was not disclosed. |
Tasek posts MYR5.94m loss in 4Q1708 February 2018, Published under Cement NewsMalaysian cement producer Tasek Corp Bhd reported a net loss of MYR5.94m (US$1.51m) for the fourth-quarter of 2017, down from the MYR2.14m profit in 4Q16. The company’s turnover fell 16 per cent YoY to MYR135.26 on the back of lower domestic cement sales and a lower average net selling price for cement and ready-mixed concrete, according to The Malaysian Reserve newspaper. The outlook for 2018 is mixed as the property market is expected to continue to weigh on cement demand. However, c... |
Cemex speeds up Maceo opening08 February 2018, Published under Cement NewsCemex Latam Holding has confirmed that it is solving the legal issues that prevent the opening of its new plant in Maceo, Antioquía, Colombia. The inauguration of the works was postponed in May 2017 after authorities found the plant did not have all required permits to start operation. Jaime Muguiro, the company’s president, said the company was still awaiting authorisation for the capacity expansion. At present, capacity is limited to 0.25Mta, but Mr Muguiro indicated that the facili... |
Cementos Argos marks record-breaking year08 February 2018, Published under Cement NewsCementos Argos has reported a positive domestic performance in Honduras throughout 2017. The company sold over 1.1Mt of cement in a record-breaking year, representing a 15 per cent YoY growth. The majority, 80 per cent, of Cementos Argos’ sales are generated through general use cement, according to M-Brain. Specialised structural cement accounts for 15 per cent, with white cement contributing the remaining five per cent. |
Yamama Cement profit halves in 4Q1708 February 2018, Published under Cement NewsSaudi Arabia’s Yamama Cement saw its net profits slide 51.3 per cent YoY in the 4Q17 to SAR16.9m (US$4.5m) from SAR34.8m. The company attributed the fall in profits to the drop in sales on the back of a contracting domestic market and to the rise in the allocated amount for Zakat by SAR5.7m. For the full year 2017, profits declined 69.5 per cent to SAR109.9m, from SAR357.9m in 2016. |
Star Cement records 10% rise in operating revenue07 February 2018, Published under Cement NewsStar Cement Ltd has released its results for the third quarter of FY17-18, showing a growth in operating revenue of 10.1 per cent YoY. Adjusted for excise duty, this translates to INR3.77bn (US$58.8m) against INR3.42bn of the 3QFY16-17, according to IIFL. EBITDA marked a considerable increase of 60.4 per cent to INR1.41bn in comparison with INR0.88bn of the previous fiscal. The EBITDA margin expanded by 1173bps YoY to 37.5 per cent. Elsewhere, Sagar Cements has reported a 47.21 per cent ri... |
BCIC plans dry-process conversion at Chhatak plant07 February 2018, Published under Cement NewsBangladesh Chemical Industries Corporation (BCIC), owned by the Bangladeshi Ministry of Industries, is planning to convert a wet-process production line to dry-process at Chhatak Cement Company Ltd (CCCL) in northeast Bangladesh. The Chhatak factory was established in 1937 by Assam Bengal Cement Company at Chhatak Upazila in Sunamgonj district. According to BCIC’s announcement, the 1500tpd clinker and 500tpd cement project includes hiring of ECC contractor for design, engineering, proc... |
Slow Tamil Nadu sales affect Ramco 3Q net profit07 February 2018, Published under Cement NewsRamco Cements has seen its 3QFY17-18 net profit dragged down on the back of lacklustre demand in its core market of Tamil Nadu, India. Net profit fell to INR1.227bn from INR1.519bn in the quarter ended 31 December 2016, according to The Hindu newspaper. Revenues edged up from INR9.647bn to INR10.615bn over the period. The company’s CEO, AV Dharmakrishnan, said with demand soft in Tamil Nadu, Ramco has had to look increasingly further afield for sales and he reported the eastern region is ... |