Cement News tagged under: corporate
Saudi Arabian companies report profit falls in 3Q1731 October 2017, Published under Cement NewsSaudi Arabia’s cement companies reported a fall in third-quarter profits when compared with the same period last year. Hail Cement saw its 3Q profit fall to SAR650,406 (US$ 173,433) from SAR19.3m in the 3Q16, according to a company statement on the Saudi stock exchange. Profits retreated 75.5 per cent QoQ. Revenues of the Saudi cement producer decreased by 37 per cent from SAR58.2m in 3Q16 to SAR36.9m in 3Q17. Hail Cement’s 9M17 profits decreased 85.2 per cent to SAR11.6m, compared t... |
Caribbean Cement consolidated profit hits JMD2bn31 October 2017, Published under Cement NewsCaribbean Cement group reported YtD consolidated profit before tax of JMD2.01bn (US$15.86m) over nine months compared to JMD1.26bn last year, reports Loop Jamaica. The two-thirds jump was attributed to a JMD437m write-down of overstocked items identified in 2016 and JMD407m incurred during the implementation of restructuring programmes last year. In the reporting quarter, the group announced a profit before tax of JMD847m compared to a loss before tax of JMD27m in the correspondi... |
Fauji Cement records a 1QFY18 net profit of PKR444m31 October 2017, Published under Cement NewsFauji Cement (FCCL) has earned net profit after tax of PKR444m (US$4.2m) in 1QFY18, down by 27 per cent YoY. The company's sales stood at PKR4.79bn, up by nine per cent YoY . FCCL reported incurring distribution cost of PKR40m and administrative cost of PKR74m during this period. This translates distribution cost increasing by 18 per cent but administrative cost fell by five per cent on YoY basis. |
Habesha Cement forced to halt production31 October 2017, Published under Cement NewsHabesha Cement, has halted its cement production at its plant near Holeta city, Oromia State due to a security threat. The decision was made after young anti-government protestors occupied the cement manufacturing plant which was inaugurated last April. Mesfin Abi (Eng), CEO of Habesha Cement SC, explained production was suspended. "More than 20 youngsters from the locality and other places occupied the mining area hampering our operation. We are working with the local community and admini... |
Cherat Cement Pakistan profits up by 50%31 October 2017, Published under Cement NewsCherat Cement (CHCC) of Pakistan has announced 1QFY18 net profit after tax of PKR606m (US$5.75m), up 50 per cent YoY. The company net sales grew by 33 per cent YoY to PKR 3.891bn. It incurred distribution expenses of PKR81m and administrative expenses of PKR57m compared with PKR63m and PKR50m, respectively in 1QFY17. Along with result, CHCC announced the installation of a 10MW WHR system on Line III. The plant is expected to cost PKR1.2bn and would commence operations right afte... |
Cemex Philippines sees 63% fall in 9M17 income30 October 2017, Published under Cement NewsCemex Holdings Philippines Corp said on Friday that its net income for the first nine months of 2017 had fallen 63 per cent as a result of lower prices and volumes amid heightened competition. Net profit in the 3Q17 declined to PHP688m (US$13.33m) from the PHP1.88bn reported in the same period last year primarily due to lower prices and volumes. The company said financial expenses fell 39 per cent from a year ago following the refinancing of the company's dollar-denominated loan with ... |
Livetouch Investments starts production at Redcliff plant30 October 2017, Published under Cement NewsLivetouch Investments has commenced cement production at its 410,000tpa capacity plant in Redcliff, Zimbabwe, a senior company executive said. Managing director Dongning Wang told The Sunday Mail Business that the US$34m plant had started operations and has the second biggest production capacity of all local cement producers. Livetouch’s production is currently being distributed to potential customers to give the potential consumers a feel of the quality of the products. "This is o... |
Holcim Philippines breaks ground on Kalayaan project30 October 2017, Published under Cement NewsHolcim officials broke ground at its Davao plant, where two major projects are being undertaken to raise the works’ production capacity from 1.4Mta to 2.2Mta. The PHP1.5bn (US$29m) Kalayaan project will see the automation of loading of its products from ship-to-dock and an increase in grinding project. The Davao expansion is part of Holcim Philippines’ PHP2.7bn investment to raise its domestic cement capacity to 12Mta from the current 10Mta. The increased capacity will allow the compan... |
Lucky Cement profits grow by 6.8% in 1QFY1830 October 2017, Published under Cement NewsPakistan-based Lucky Cement Co Ltd reported 1QFY18 earnings of net profit of PKR3.01bn (US$28.5m), up by 6.8 per cent YoY. The company's revenue increased six per cent YoY to PKR11.2bn. This growth was primarily attributable to a rise in total dispatches YoY. The company achieved an overall growth of 5.9 per cent with a total sales volume of 1.8Mt during the first quarter compared to 1.7Mt last year. While the cement producer's local sales volume saw a growth of 14.3 per cent to 1.54... |
Shiva quarterly net loss deepens30 October 2017, Published under Cement NewsIndia’s Shiva Cement has reported a deepening net loss of INR86m (US$1.33m) in the July-September 2017 quarter when compared with a net loss of INR26.3m in the year-ago quarter. Sales fell 41.8 per cent to INR36.6m in the quarter ended September 2017 when compared with INR62.9m in the July-September 2016 quarter. |