Cement News tagged under: corporate
Fujairah Cement Industries reports 2Q decline14 August 2017, Published under Cement NewsUAE-based Fujairah Cement Industries Co posted a decline in its profits during the second quarter of 2017, according to a bourse statement. Net profits reached AED8.3m (US$2.26m) in 2Q17, compared to AED16.50m (US$4.5m) in 2Q16. The profit decline is mainly attributed to a decrease in its revenues by 16 per cent to AED138.03m in 2Q17 from AED164.20m in 2Q16. In 1H17 profits retreated 37.20 per cent to AED20.88m from AED33.25m in 1H16. |
Dangote Cement to operate gas power plant in Tanzania by September11 August 2017, Published under Cement NewsDangote Cement plans is to set up a gas-powered plant in Tanzania by September to reduce its operational costs and its reliance on diesel. Dangote annunced that it has invested US$90m in the construction of the coal/gas-fired power station to be fed with natural gas at a negotiated rate by the Tanzania Petroleum Development Corporation. Dangote stated that the Mtwara plant increased volumes by more than 64 per cent to nearly 0.388Mt in its 1H17 results, pushing the six months sales to mo... |
Misr Beni Suef sees 41% drop in 1H net profit11 August 2017, Published under Cement NewsEgyptian cement producer, Misr Beni Suef Cement, announced in a statement sent to the Egyptian Stock Exchange, the audited financial results for the first six months of 2017, posting a 41 per cent decline in net profits. The company reported net profits of EGP55,722,455 (US$3,132,487), versus net profits of EGP94,574,290 in the same period a year ago. |
FLSmidth reports 11% rise in revenue10 August 2017, Published under Cement NewsFLSmidth reported an 11 per cent rise in revenue and a 25 per cent increase in EBITA in the 2Q17, driven by continued momentum in in orders from service activities. Consolidated order intake grew by five per cent in the three month period while revenue rose to DKK4585m from DKK4135m a year earlier. The growth was attributable to all divisions but Minerals, as mining capital investments remained soft despite a firmer sentiment and an improved order pipeline, the company said in a statement.... |
Kuwait Cement sees decline in quarterly profit10 August 2017, Published under Cement NewsKuwait Cement reported a decline of 37.1 per cent in profits to KWD4.38m (US$14.48m) in the second quarter this year compared to KWD6.96m (US$23.01m) in the same quarter a year ago. In the first half of 2017, the company posted a fall of 17.9 per cent in profits to KWD9.98m compared to KWD12.16m in 1H16, according to a bourse filing issued on Wednesday. The decrease in profits is attributed to a higher finance cost to the consolidated income statements by KWD154,430, as well as a drop... |
Birla Corp to seek board approval for Mukutban plant10 August 2017, Published under Cement NewsBirla Corp is due to put its proposal plans for a greenfield plant at Mukutban near Yavatmal district, India, before its board of directors for approval. "We are planning to invest around INR2400 crore [US$375m] for the 4Mta greenfield cement plant at Mukutban. We will now go to the board for approval," said Harsh V Lodha, chairman of Birla Corporation, in a press release following the company's AGM on Monday. The new plant would be funded through a mixture of debt and internal accruals, ... |
Gary De La Rosa new MD Argos in Dominican Republic10 August 2017, Published under Cement NewsColombia-based cement and concrete producer Argos has appointed Gary Manuel de la Rosa as new Managing Director of its operations in the Dominican Republic. "It is very satisfying for our organisation to communicate these movements that enhance the experience and skills acquired, and therefore I assume this new challenge with great optimism focussed on working for the sustainable growth of Argos and that of our clients," said Mr De La Rosa. As a civil engineer, Gary De La Rosa holds a ... |
Eagle posts flat 2Q earnings09 August 2017, Published under Cement NewsEagle Cement Corp of the Philippines reported a one per cent rise in earnings for the second quarter of this year as wet weather affected results. Net profit edged ahead to PHP1.9bn (US$37.5m) during the quarter versus PHP1.03bn a year ago, while net sales increased by six per cent to PHP3.71bn. "Historically second quarter is slower because of the rainy season," Eagle Cement President and CEO, John Paul L Ang, said in a press briefing, adding that the Easter Holy Week holiday occurred... |
Saudi cement sales rise 12% in July09 August 2017, Published under Cement NewsCement sales of companies operating in Saudi Arabia recorded an increase of 11.53 per cent in July 2017. Sales rose to 3.49Mt in July 2017, compared to 3.13Mt during the same month of the previous year. The companies’ gross production grew by five per cent YoY to 3.37Mt in July 2017 from 3.2Mt, according to a monthly report issued by Yamama Cement Company. On the other hand, cement inventories decreased marginally by 1.96 per cent to 1.1Mt last month, compared to 1.12Mt in July 20... |
Shanshui Cement expects first-half loss to narrow09 August 2017, Published under Cement NewsChina-based Shanshui Cement expects that the group will continue to record a net loss for the six months ended 30 June 2017. However, the loss is expected to narrow compared with the corresponding period of 2016 mainly due to the increase in average selling prices. In addition, the Jinan government is assisting the company to restructure the board of directors and senior management of Shandong Shanshui and to resolve the illegal occupation of the properties of Shandong Shanshui by its form... |