Cement News tagged under: corporate
China Resources Cement 9M profit up 216%23 October 2017, Published under Cement NewsChina Resources Cement reported a 215.9 per cent rise in profit attributable to owners for the 9M17 to HKD2648.6m (US$ 339.4m) . Turnover increased 16.4 per cent to HKD20,344.9m in the first nine months. The consolidated gross profit saw a 36 per cent YoY advance to HKD6023.6m. The consolidated gross margin was 29.6 per cent, representing a rise of 4.3 percentage points over 25.3 per cent reported in 9M16. The increases in consolidated gross profit and gross margin were mainly attri... |
Cementos Molins relocates registered address to Madrid23 October 2017, Published under Cement NewsSpanish cement producer Cementos Molins is moving its registered address from the town of Sant Vicenc del Horts in Catalonia to Madrid. Sources close to the step have said the reason for the move is the legal uncertainty in Catalonia. While the company’s plant will remain in Sant Vicenc del Horts, the publicly-traded copany and the group’s holding through which it channels its foreign investments will take up residence in Madrid. The company plans to invest EUR350m to expand its produ... |
Dangote Cement group increases revenues by 37% in 9M1720 October 2017, Published under Cement NewsDangote Cement’s overall group revenue increased by 36.5 per cent from NGN442.1bn (US$1.08bn) in the first 9M16 to NGN603.6bn in 9M2017, despite a 10.1 per cent fall in group cement volumes to 16.5Mt, as the impact of price increases dampened demand in Nigeria. The group’s profit for the period was NGN193.1bn, up 44.6 per cent compared to NGN133.5bn in 2016. “Dangote Cement has continued to perform strongly in 2017 with revenues up nearly 37 per cent despite a fall in volumes. In our key ... |
Quantum Global exits Savannah Cement20 October 2017, Published under Cement NewsFollowing the receipt of regulatory approvals, Quantum Global Group has completed the sale of its stake in Savannah Cement. "We are delighted to have partnered with Savannah Cement in one of the critical industry sectors in East Africa, advancing together to aim to close the existing infrastructure gap in Africa. The exit from this investment is testament to the success of our approach of deploying capital in transformative sectors of key importance in Africa at the right time,’" said Qua... |
Attock Cement Pakistan reports fall in profits20 October 2017, Published under Cement NewsAttock Cement Pakistan Ltd (ACPL) announced its 1QFY18 financial result, which saw it post earnings before tax of PKR604m (US$5.7m) against PKR690m reported in 1QFY17. This reflects a fall in profit of 12.46 per cent. Revenue of the company witnessed a healthy growth of seven per cent YoY to PKR3.6bn, primarily on the back of growth in total dispatches and stable domestic cement prices. According to a company notification to Pakistan Stock Exchange today, no bonus share or di... |
UltraTech Cement sales pass US$1bn in quarter ended 30 September 201719 October 2017, Published under Cement NewsUltraTech Cement Ltd, an Aditya Birla Group Company, has announced its unaudited financial results for the quarter ended 30 September 2017. Net sales stood at INR68,400m (US$1.051bn) as compared to INR57,080m in the corresponding period of the previous year. Profit before interest, depreciation and tax was INR15,500m higher by 13 per cent than the INR13,780m in the corresponding period of the previous year. Increased depreciation and higher interest cost relating to the acquired cement pl... |
DG Khan raises profits by 49% in 1QFY1819 October 2017, Published under Cement NewsDG Khan Cement Factory Ltd (DGKC) announced its 1QFY18 financial results on 18 October, posting a profit after tax of PKR2.83bn (US$26.8m) against PKR1.9bn earned in the corresponding quarter a year ago. This translates a growth of 49 per cent in profit on YoY basis, according to the company's notification to Pakistan Stock Exchange. Revenue rose to PKR7.5bn, up by 14 per cent YoY, primarily due to higher local dispatches. The company incurred administrative expense of PKR149m, and selling ... |
ACC 3Q17 sales volume rises 18%18 October 2017, Published under Cement NewsACC delivered sales volume growth of 18 per cent in the 3Q17 (July-September 2017) compared to five per cent in 3Q16. Sales volume reached 19.29Mt for the first nine months of 2017. The stabilisation of Jamul and Sindri cement plant capacities have contributed to this growth. Premium product sales rose by 18 per cent YoY. "ACC's results demonstrate our capacity to respond quickly and resolutely to changing market dynamics and execute strategies with focus and determination. Our approach... |
UltraTech expected to announce large net profit fall in 3Q1718 October 2017, Published under Cement NewsUltraTech Cement is likely to report a 30-50 per cent drop in the July-September quarter net profit on higher interest cost and depreciation related to acquisition of Jaiprakash Associates six integrated cement plants and five grinding units, having a capacity of 21.2Mt, reports The Economic Times. Net sales are forecast to rise 17-18 per cent for the quarter, the paper reports. The cement maker is scheduled to report its results later in the day. According to Centrum, the cement maker ... |
ACC appoint Mr Jenisch as new director to the board18 October 2017, Published under Cement NewsACC Ltd has appointed Mr Jan Jenisch as an Additional Director to the Board as a Non-Executive, Non-Independent Director from 17 October 2017. Mr Jenisch was born in Germany and joined LafargeHoclim as CEO on 1 Septeber 2017. Mr Jenish was also elected as Deputy Chairman of ACC Ltd. |