Cement News tagged under: corporate
Cemex Philippines reports drop in net income31 July 2017, Published under Cement NewsCemex Philippines saw its net income fall by 69 per cent in the 2Q17 to PHP136.5m (US$270m) from PHP436.1 in the same period of 2016 as demand softened and cement prices eased. In a disclosure to the stock exchange, the company reported a 12 per cent decline in sales to PHP5.6bn, while cost of sales fell three per cent to PHP3.3bn. Gross profit was down 22 per cent to PHP2.3bn. Sales volume declined three per cent in the second quarter from a year ago, while prices also fell by nine ... |
HeidelbergCement Bangladesh records profit fall in 1H1731 July 2017, Published under Cement NewsIn the second quarter of 2017, HeidelbergCement Bangladesh saw sales fall to BDT2.791bn (US$34.6m) from BDT3.114bn in 2Q16. Warehousing, distribution and selling expenses fell from BDT112.2m in 2Q16 to BDT110m in 2Q17 while administrative expenses increased from BDT130.8m to BDT131.8m over the period. Net profit declined from BDT508m in April-June 2016 to BDT361.8m in April-June 2017. For the first half of 2017, company sales also declined to BDT5.89bn from BDT6.67bn in the 1HFY16. Th... |
India Cement’s net profit slips as demonetisation and GST hit31 July 2017, Published under Cement NewsThe latent effect of India’s demonetisation, a halt in cement sales ahead of the newly-introduced Goods and Services Tax (GST) roll-out and a severe shortage of river sand in Tamil Nadu, combined to put pressure on India Cements Ltd (ICL)’s profit in the April-June 2017 quarter. ICL’s profit after tax decreased to INR264.4m (US$4.12m) in the first quarter from INR439.8m in the year-earlier period. The company reported a total income of INR14.66bn in the quarter (from INR12.06bn). The... |
CRH plc establishes a euro commercial paper programme31 July 2017, Published under Cement NewsCRH plc has announced it has established a euro commercial paper (ECP) programme, under which its wholly-owned subsidiaries CRH Finance DAC and CRH France (UK) plc may issue from time to time unsecured short-term euro commercial paper notes through appointed dealers up to a maximum aggregate amount outstanding at any time of EUR1.5bn. The notes will be guaranteed by CRH plc and sold to investors outside the US. The programme adds flexibility to the company’s short-term funding options and... |
Titan 1H17 turnover reached €773.8m up 6.9%28 July 2017, Published under Cement NewsΤitan Group's 1Q17 results saw consolidated turnover was EUR773.8m (US$905.4m), posting a 6.9 per cent increase compared to the 1H16. EBITDA increased by 18.9 per cent, reaching EUR142.1m. Net profit after minority interests and the provision for taxes increased by 51.4 per cent and stood at EUR13.9m, versus a net profit of EUR9.2m in the respective period of 2016. Consolidated turnover for the second quarter increased by 6.7 per cent to EUR412m. EBITDA grew by 19.5 per cent to reach EUR9... |
Caribbean Cement doubles quarterly profits28 July 2017, Published under Cement NewsThe Caribbean Cement Company (CCC) more than doubled its quarterly profits during the April-June quarter 2017, reports the Gleaner. Net profit grew to US$606m after tax, over three months, or 174 per cent higher than the similar period a year earlier. "This was achieved through cost-saving initiatives which were implemented, resulting in lower fixed and administrative costs," stated management in the financial report signed by Chairman, Parris Lyew-Ayee, and Director Jose Luis Seijo Gonzal... |
Bosnia’s TCK sees 1H net profit edge up28 July 2017, Published under Cement NewsBosnian cement producer Tvornica Cementa Kakanj (TCK) reported a modest rise in 1H net profit to BAM7.2m (US$4.3m) from BAM7.1m a year earlier. The company’s operating revenue rose 8.8 per cent YoYto BAM32.2m in the January-June period, while operating costs expanded to BAM25m from BAM22.4m in 1H16. TCK is majority-owned by Dutch-based CEEM Investment, which is part of Germany's HeidelbergCement. |
Holcim Philippines to invest US$54m in the next 2 years28 July 2017, Published under Cement NewsHolcim Philippines Inc plans to invest US$54m over the next two years to increase its capacity to 12Mta to support the government’s flagship infrastructure projects. The company will invest US$54m in the next two years to add 2Mt to its current cement capacity by the first half of 2019, particularly in La Union and Davao," Holcim Philippines President and Chief Executive Officer, Sapna Sood, said in a statement. "Our investments assure that Holcim Philippines will continue to provide a re... |
Boral bids for 24h mill at Geelong28 July 2017, Published under Cement NewsAustralian cement producer Boral has applied to the Australian Environmental Protection Authority to run a 24h grinding mill in Geelong’s north. The new facility at the proposed North Shore site will have a capacity of 1.3Mta. “(The new site) is directly adjacent to the wharf complex, which would allow efficient unloading of clinker from ships,” a Boral spokesman said when the company first raised the concept late last year. “Importantly, the site is also surrounded by other large in... |
SCG revises down full-year outlook28 July 2017, Published under Cement NewsSiam Cement Group's (SCG) has revised down its sales growth outlook for 2017 as net profits in cement and building materials fell by 29 per cent YoY in the 2Q17. Speaking to reporters in Bangkok on Tuesday, SCG chief executive, Roongrote Rangsiyopash, said the Thai cement market slowed more than the company expected in the period. Domestic cement sales by volume were down seven per cent YoY in the three months to the end of June, following a seven per cent fall the previous quarter. Demand... |