Cement News tagged under: corporate
Martin Marietta modest first half growth03 August 2017, Published under Cement NewsMartin Marietta Materials, one of the top five US aggregates producers, has announced a first half turnover 8.4 per cent ahead at US$1788m while the EBITDA was ahead by five per cent to US$440m. The trading profit improved by 4.7 per cent to US$290m and after a net interest charge that was 11.4 per cent higher at US$44.9m and other items, the pre-tax profit advanced by 4.5 per cent to US$251m and after a lower tax charge, the net attributable profit advanced by 10.5 per cent to US$184.6m... |
Raysut shareholders agree to sell Oman Portuguese Cement Products03 August 2017, Published under Cement NewsRaysut Cement shareholders have approved a proposal to sell Oman Portuguese Cement Products Co to Opal Development. The decision was taken at an extraordinary general meeting of the company held on 25 July 2017, Raysut Cement said in a disclosure statement posted on the Muscat Securities Market website. Meanwhile, earlier this month, Raysut Cement had announced that its net profit for the first six months of 2017 fell 64.2 per cent to OMR4.62m (US$12m) from OMR12.91m for the same pe... |
Eastern Province Cement 2Q net profit slides03 August 2017, Published under Cement NewsSaudi-based Eastern Province Cement Co (EPCC) said its net profits slid 25.5 per cent YoY in the second quarter of 2017 due to lower volumes and value of cement sales due to a drop in domestic demand. Net profits stood at SAR35m in 2Q17, compared to SAR47m in 2Q16, according to a statement to the Saudi Stock Exchange. Quarter-on-quarter, net profits retracted 30 per cent. Sales tumbled 23.5 per cent to SAR159m in 2Q17, from SAR208m in the same period in the year before. In the first half... |
Yanbu 2Q sales hit by weak demand and strong competition02 August 2017, Published under Cement NewsSaudi-based Yanbu Cement Co's second quarter net profit fell by 49.7 per cent YoY, and 35.5 per cent on a sequential basis, according to a bourse filing. The drop in profits is attributed to lower sales, which resulted from a weak demand and fierce competition. Net profit decreased to SAR80m (US$21.3m) in the three months to the end of June 2017 from SAR159m in the same period a year earlier. Sales were down by 38 per cent YoY to SAR214m during the 2Q17. In terms of Yanbu's first-half ... |
Carthage Cement reports 2% rise in 1H turnover02 August 2017, Published under Cement NewsTunisia-based Carthage Cement increased its cement turnover by two per cent to TND68.022m in the first half of 2017. Domestic market share advanced from 18.55 per cent in June 2016 to 19.41 per cent in June 2017. However, blocked sales to Algeria negatively impacted the results. The company’s ready-mix concrete arm saw its sales slip by two per cent and output by one per cent. Debt improved from TND513m at the end of 2016 to TND507m on 30 June 2017. |
Dangote Cement sells 2.3% stake to foreign investors02 August 2017, Published under Cement NewsNigeria's Dangote Industries Ltd sold a 2.3 per cent stake in Dangote Cement to foreign investors on Tuesday in a stock market deal valued at NGN86.1bn (US$236m), Reuters reported yesterday. Dangote Cement has been selling small stakes to increase its free float. A spokesman for the Nigerian Stock Exchange said 416 million shares of Dangote Cement were sold on Tuesday at NGN210 each in six off-market deals negotiated between Stanbic IBTC and Meristem stockbrokers. |
Lucky Cement FY17 profit rises 5.78%01 August 2017, Published under Cement NewsLucky Cement has reported a 5.78 per cent YoY increase in full-year profit of PKR13.69bn (US$129.8m) versus PKR12.94bn in FY16, the company informed the Pakistan Stock Exchange. Gross sales increased to PKR61.6bn during FY17 from PKR 55.92bn in the previous year. The company said it incurred distribution costs of PKR1.703bn and administrative expenses of PKR1.021bn versus PKR2.01bn and PKR1.10bn incurred, respectively in FY16. Sales volumes rose by 3.1 per cent YoY to 7.15Mt. While its... |
Breedon completes acquisition of Humberside Aggregates01 August 2017, Published under Cement NewsBreedon, the UK’s largest independent construction materials group, announced that it has today completed the acquisition of Humberside Aggregates Ltd (Humberside) for a total consideration of GBP9m, subject to completion adjustments. Humberside is a leading independent sand and gravel quarry and aggregates merchanting business based at North Cave near Hull in east Yorkshire, employing around 30 people. It supplies a broad range of customers, including ready-mixed concrete and mortar prod... |
Joan Molins Amat new Cementos Molins President01 August 2017, Published under Cement NewsSpain-based Cementos Molins has appointed Joan Molins Amat as its new President following the passing of Casimiro Molins Ribot on 25 June. Joan Molins Amat was formerly First Vice-President of the company. The Group's Board of Directors assigned Joaquín Molins Gil as First Vice-President and Ana María Molins López-Rodó on his place as Second Vice-President. |
Dangote Cement's 1H17 revenues rise by 41%31 July 2017, Published under Cement NewsDangote Cement has released its 1H17 results, announcing group revenues of NGN412.7bn (US$1.31bn), up 41.2 per cent, and an EBITDA of NGN203.7bn, up 53.7 per cent. In Nigeria total cement demand reached 10.2Mt in January-June 2017, according to Dangote estimates. This represents a 23.2 per cent contraction when compared with 1H16, when demand was estimated at 13.3Mt. Of total market sales in the 1H17, just 0.1Mt was imported. As a result of the fall in domestic cement consumption, Dang... |