Cement News tagged under: corporate
Cemex improves net profit strongly27 July 2017, Published under Cement NewsCemex reported a strong improvement in net profit for the six months to the end of June 2017, but cement volumes eased over the period. First-half turnover was down by 0.2 per cent to US$,703.9m, while EBITDA declined by 6.4 per cent to US$1248.1m.The trading profit, however, improved by 14.2 per cent to US$959.5m while net interest payments increased by three per cent to US$537.5m and the pretax profit improved by 29 per cent to US$451.6m. The net attributable profit rose from US$241.2m ... |
Cemex LatAm sees sharp decline in Colombia27 July 2017, Published under Cement NewsCemex Latin American Holdings' first-half turnover declined by 4.4 per cent to US$642.8m, while EBITDA fell by 25.8 per cent to US$167.7m as the company saw a sharp decline in the Colombian market. At the trading level there was a 32.1 per cent reduction to US$123.1m. After a net interest charge 9.4 per cent higher at US$32.1m, the pretax profit emerged 50.1 per cent lower at US$82.8m. The net attributable profit dropped by 49.2 per cent to US$51.1m. Net debt at the end of June was 8.8 p... |
SIKA achieves record sales27 July 2017, Published under Cement NewsWith sales growth of 8.1 per cent in local currency, Sika achieved a new sales record of CHF2994.9m (US$ 3140.4m) in the first half of 2017. Targeted investments in new products, national subsidiaries and factories as part of Sika's growth strategy provided growth stimuli. In the first half of the year, the negative currency effect (-1.4 per cent) reduced sales growth in Swiss francs to 6.7 per cent. Net profit up 16% Volume growth, together with disproportionately low cost developmen... |
Board change at CRH27 July 2017, Published under Cement NewsCRH announced that Maeve Carton, Group Transformation Director, has informed the directors of her intention to retire from the Board and from CRH on 31 August 2017. Since joining CRH in 1988, Maeve held a number of senior financial roles prior to joining the Board as finance director in May 2010. She was appointed group transformation director in January 2016. Group CEO, Albert Manifold, said: “As Group Transformation Director, Maeve’s experience and insights have been invaluable as CR... |
LafargeHolcim reports 2Q earnings growth26 July 2017, Published under Cement NewsLafargeHolcim reported today its fifth consecutive quarter of like-for-like adjusted operating EBITDA growth. Middle East Africa, Latin America and North America regions all contributed to the earnings momentum with the US, Nigeria and Mexico among the notable performers. Net sales were up by 3.6 per cent on a like-for-like basis to CHF6850m (US$7175m) . Despite positive results in India, which continued its recovery post-demonetisation, the Asia-Pacific region was weighted down by pe... |
Binani Cement insolvency petition by Bank of Baroda admitted by NCLT26 July 2017, Published under Cement NewsThe Kolkata bench of the National Company Law Tribunal (NCLT) on Tuesday admitted an insolvency petition against Binani Cement based on a referral by one of its lenders, Bank of Baroda, after the cement company failed to repay a sum of INR970m. Bank of Baroda has appointed Vijaykumar V Iyer of Deloitte India as the interim resolution professional (IRP) to oversee the insolvency process. According to a report by the Financial Express (India) the company owes a consortium of lenders cl... |
Portland Valderrivas generates EUR21m economic impact in 201626 July 2017, Published under Cement NewsCementos Portland Valderrivas generated an economic impact of over EUR21m in Alcalá de Guadaíra, Spain, in 2016, as a result of the activities by its cement plant in this location, said the company in a statement. The figure is attributed to the contracting of services, the payment of taxes and salaries of some 200 workers directly employed by the company as well as other indirect jobs. “These figures confirm the company's commitment to the inhabitants of Alcalá de Guadaíra and its en... |
Anhui Conch issues positive profit alert26 July 2017, Published under Cement NewsIn its latest profit alert announcement, Anhui Conch Cement expects to have a significant improvement in results and record an increase of about 90-110 per cent in its net profit for the six months ended 30 June 2017 as compared to that for the corresponding period in 2016. Taking into account the holding of about 36.78 per cent equity interest in Conch Cement by Conch Holdings and the level of the Group's profit attributable to Conch Holdings for FY2015 and FY2016, the group is forecast ... |
GCC achieves 23% YoY rise in 2Q sales26 July 2017, Published under Cement NewsMexican cement producer Grupo Cementos Chihuahua (GCC) announced a 22.6 per cent YoY rise in consolidated net sales to MXN4497m in 2Q17 from MXN3669m (US$242.4m). The company derives the majority of its sales in the US, where net sales advanced 28.9 per cent YoY to MXN3455m in 2Q17. In its home market of Mexico, sales expanded by 5.5 per cent YoY to MXN1042m in 2Q17 when compared with 2Q16. Cement price realisation in the second quarter improved 16.9 per cent in Mexico but was more ... |
Ambuja Cements reports 2Q sales rise25 July 2017, Published under Cement NewsAmbuja Cements reported an 11.7 per cent increase in net sale in the 2Q17 as cement volumes and price realisations improved. The pan-Indian cement producer said net sales reached INR28.23bn versus INR25.28bn in the 2Q16. Cement volumes increased to 6.05Mt in the quarter under review compared to 5.76Mt in the April-June 2016 period. For the first six months of 2017, volumes rose to 12.07Mt, up 3.9 per cent YoY. Operating EBITDA for the quarter stood at INR6.51bn versus INR5.98bn in the ... |