Cement News tagged under: corporate
JK Cement reports uptick in revenue07 November 2023, Published under Cement NewsJK Cement Ltd has posted total revenue of INR25,984m (US$312.3m) in the three months ended 30 September 2023. This compares to INR21,584m in the same period a year earlier. Profit after tax for the September 2023 quarter came in at INR1789m, up from INR1257m in the same quarter in 2022. Basic and diluted earnings per share over the same period advanced from INR16.15 to INR23.16. Meanwhile, total expenses expanded from INR19,912m to INR23,527m, driven by increases in the cost of materia... |
Premier Cement Mills continues to report losses in FY22-2307 November 2023, Published under Cement NewsBangladesh cement producer Premier Cement Mills (PCM) announced its financial results for the Fy22-23, which ended 30 June 2023, a week before. It reported a loss after taxation of BDT842m (US$7.65m) against a deeper loss of BDT1.32bn incurred during the same period last year. The loss can be attributed to the high cost of raw materials during this period despite increased revenue. PCM’s net sales increased to BDT21.83bn from BDT14.23bn. Similarly, the cost of sales rose to BDT19.81bn fro... |
UNTHA appoints global marketing director07 November 2023, Published under Cement NewsAustria-based shredding technology specialist UNTHA has appointed a new global marketing director as part of its plans for significant growth over the next five years. Katie Mallinson has joined the EUR80m turnover company following almost 15 years working with the business as a supplier. Until recently, she was managing director of global communications firm Scriba PR, which she founded in 2013. Now a permanent member of the UNTHA team, her role is to support the continued expansion of UNT... |
Martin Marietta posts improved 3Q results06 November 2023, Published under Cement NewsMartin Marietta Materials Inc posted total revenues of US$1994.1m in the 3Q23, up 10.1 per cent YoY from US$1811.7m. Gross profit improved 38.6 per cent YoY to US$676m in the 3Q23 from US$487.8m. Net earnings from continuing operations saw a 47.8 per cent YoY increase to US$430.3m from US$291.2m in the year-ago period while adjusted EBITDA improved 32.2 per cent YoY to US$705.2m from US$533.1m. Martin Marietta’s Building Materials business generated record revenues of US$1.9bn, up 10.5 p... |
Saudi Cement sees drop in 3Q profit06 November 2023, Published under Cement NewsSaudi Cement Co reported a 15.4 per cent drop in quarterly net profit after tax and zakat to SAR68.3m (US$18.2M) in the 3Q23 when compared with the year-ago period when net profit reached SAR80.7m. Sales in the 3Q23 fell four per cent YoY to SAR315m to SAR328.1m, due to a drop in volumes and price of local sales. Selling and distribution expenses as well as general and administrative expenses increased. Financial charges were also higher. |
SRM Group ventures into cement06 November 2023, Published under Cement NewsIndia’s SRM Group has entered the cement business with the launch of a new subsidiary, SRMPR Cement. The Chennai-based company invested INR2250m in a 420,000tpa cement capacity with three production facilities in Tamil Nadu and one in Andhra Pradesh. It wil start exporting Portland pozzolana cement from 15 November to countries including the Maldives, Indonesia and Sri Lanka. SRMPR Cement foresees the start of production of a wide range of cements, including ordinary Portland Cement and h... |
JK Lakshmi Cement to invest INR2.25bn in Surat expansion06 November 2023, Published under Cement NewsJK Lakshmi Cement announced it will be spending INR2.25bn (US$27m) to expand its Surat plant in Gujarat, India. Cement capacity at the plant will be increased by 1.35Mta by setting up an additional grinding unit, the company said. The project is expected to be completed within two years and will see the doubling of existing capacity. It will be financed through a mix of term loans and internal accruals. |
Kakatiya Cement returns to black in 2QFY23-2406 November 2023, Published under Cement NewsIndia-based Kakatiya Cement Sugar & Industries reported a standalone net profit of INR18m in the 2QFY23-24 when compared to a net loss of INR49.9m in the year-ago period. Operating income increased by 107.3 per cent to INR5.3m in the 2QFY23-24 from an operating loss of INR72.8m. Operating expenses during the 2Q fell by 9.2 per cent YoY to INR372m from INR409.7m in the previous year’s equivalent period. Net revenue increased by 12 per cent to INR377.3m when compared with INR336.9m in the ... |
Attock Cement re-appoints Nawaz as CEO06 November 2023, Published under Cement NewsAttock Cement Pakistan informed Pakistan Stock Exchange Ltd (PSX) on 3 November that after the recent election of directors held on 23 October 2023, Babar Bashir Nawaz was re-appointed as chief executive officer by the Board of Directors of the company with immediate effect. |
Indonesia’s increased 9M23 demand sees positive results for key producers03 November 2023, Published under Cement NewsIndonesian cement consumption increased 4.4 per cent YoY and 2.7 per cent MoM to 6.12Mt in October 2023, as infrastructure projects in Sumatra were completed and work progressed on the Indonesian National Capital (IKN) project in Kalimantan, according to the Indonesian Cement Association (ASI). In the first nine months of 2023, demand reached 45.3Mt. PT Semen Indonesia Tbk and Indocement Tunggal Prakarsa Tbk increased their market shares to 52.2 and 27.7 per cent, respectively. Semen... |