Cement News tagged under: corporate
Pacasmayo profit decreases 34% YoY in 2Q1724 July 2017, Published under Cement NewsCementos Pacasmayo, Peru’s third-largest cement producer, posted a 34 per cent YoY drop in profits in 2Q17 as sales fell and El Niño damage increased costs. Cementos Pacasmayo reported a profit of PEN21.4m (US$6.6m) between April and June 2017, compared with a profit of PEN32.5m in 2Q16. This drop in profit was mainly due to "lower sales, higher expenses related to cessions, increases in distribution costs for the destruction of roads, as well as the cost of some damage to our plants by ... |
Qatar National Cement Co sees 35% profit fall in 2Q1724 July 2017, Published under Cement NewsQatar National Cement Co reported a 34.9 per cent YoY drop in profits for 2Q17, according to a filing to the Qatar Stock Exchange (QSE). Profits declined to QAR83.3m (US$22m) from QAR127.9m reported in the equivalent period of the previous year. In the first half of 2017, the company posted a 33.2 per cent decrease in profits reaching QAR168.1m against QAR 251.7m in 1H16. |
Yamama Cement sees 90% profit fall24 July 2017, Published under Cement NewsSaudi Arabia's Yamama Cement Co saw net profits fall 89.5 per cent YoY in 2Q17. Earnings contracted to SAR12.17m in the second quarter from SAR116.3m in 2Q16. The decrease in net profits was attributed to lower sales following a decrease in local demand. Total sales decreased by 30.6 per cent to SAR194.7m in 2Q17 from SAR280.4m in 2Q16. |
Hail Cement sees 90% profit slide in 2Q1724 July 2017, Published under Cement NewsSaudi Arabia's Hail Cement Co announced that its net profits decreased by 90.1 per cent YoY to SAR2.66m (US$709,203) in 2Q17 from SAR26.8m in 2Q16. Sales fell 51.2 per cent to SAR32.16m in the second quarter, from SAR75m in 2Q16 as demand in the kingdom fell, competition increased and prices declined. In the first six months, profits fell 81.5 per cent to SAR10.9m from SAR59.13m in 1H16 while sales soften 53.5 per cent to SAR76.6m in 1H17, compared with SAR164.55m. |
Caribbean Cement still has no second director elected to the board24 July 2017, Published under Cement NewsSunday Finance had reported last week that Colin Steele, a public certified accountant, would assume the position for a second Jamaican domiciled member of the board of directors of the Caribbean Cement Company Ltd (CCCL). However, the position has not been taken up, reports the Jamaican Observer. Colin Steele was lined up to be the second board member after an attempt to remove the obligation to elect a second Jamaican director was blocked by shareholders at the company's AGM. Steele... |
PPC's CEO is to resign24 July 2017, Published under Cement NewsDarryll Castle, Pretoria Portland Cement's (PPC) CEO, is stepping down to pursue other interests. PPC announced in a statement that Mr Castle will still be available to the group for six months to ensure a smooth handover. Johan Claassen, managing director of the South African cement business, has been appointed as interim chief executive. PPC reported a 93 per cent decline in full-year earnings in June, due to a liquidity crisis precipitated by the cut in ithe company's credit rating... |
New Salboni cement plant launched by JSW Cement21 July 2017, Published under Cement NewsJSW Cement, part of the JSW Group, has launched its state-of-the-art Salboni cement plant in Bengal. The largest cement plant of its kind in the state, the facility has a cement capacity of 2.4Mta and will produce premium Portland Slag Cement (PSC) grade cement. JSW Cement has targeted the eastern markets gain market share. JSW Cement will market its brand through a TVC campaign. This will be the largest ad spend by any cement brand in the eastern part of India, claims Millenium Port... |
Qatrana Bank receives US$140.9m loan from Arab Bank Jordan21 July 2017, Published under Cement NewsJordan-based Qatrana Cement, the subsidiary of the Saudi-based Arabian Cement Co, signed an agreement with Arab Bank Jordan for a loan worth JOD100m (US$140.9m). The loan will be repaid on eight years divided into 16 equal installments, Arabian Cement added in its statement to the Saudi Stock Exchange (Tadawul). The fianl instalment will be on 11 June 2025. The receipts of financing will be used by Qatrana Cement to repay part of the funding previously awarded to the plant by parent com... |
Breedon 1H17 results boosted by Hope contribution20 July 2017, Published under Cement NewsBreedon Group plc, the UK’s largest independent construction materials group, announces its unaudited interim results for the six months ended 30 June 2017, reporting a strong profit improvement from former Breedon Aggregates business and robust contribution from former Hope Construction Materials. The former Breedon Aggregates business posted a strong profit improvement, even after taking into account the shutdowns of both Hope kilns for planned annual maintenance and upgrade during the ... |
Cemex successfully closes new US$4.05bn bank loan20 July 2017, Published under Cement NewsCemex announced today that it has entered into a new facilities agreement for a total amount of US$4.05bn with 20 institutions. The 2017 Credit Agreement will be used to refinance the US$3.68bn facilities agreement dated 29 September 2014 (2014 Credit Agreement), and the remaining amount will be used for general corporate purposes, which may include debt repayment. Cemex expects to fully cancel both drawn and undrawn amounts under the 2014 Credit Agreement by 25 July 2017. The main terms... |