Cement News tagged under: corporate
Martin Marietta boosted by Building Materials03 May 2017, Published under Cement NewsUS-based Martin Marietta yesterday announced record consolidated net sales of US$791.7m in the first quarter of 2017, up 7.9 per cent on the same period of last year. The company also said consolidated gross profit reached a high of US$147.1m in 1Q17 compared with US$145.3m a year earlier. EBITDA totalled US$147.7m in the first quarter of this year, it added. Commenting on the performance, Ward Nye, chairman, president and CEO of Martin Marietta, stated: "Our strong first-quarter resu... |
ARM Cement to sell non-core unit03 May 2017, Published under Cement NewsARM Cement is to sell its fertiliser unit in a bid to raise cast to grow its core buisiness of cement, local media reports. The decision is part of the Kenyan company's aim to consolidate its business and focus on cost cutting, improving distribution channels as well as improving operational efficiencies. “Further, in order to remain focused on the cement business and to raise cash and release a significant amount of working capital locked up in Mavuno Fertilizers division, the co... |
Dangote Cement delivers strong financial performance02 May 2017, Published under Cement NewsDangote Cement reported a strong financial performance in 1Q17 despite a fall in volumes, with record revenues which were up by 48.1 per cent to NGN208.2bn (US$679.6m) and record EBITDA of NGN103.bn, up 42.3 per cent. “Dangote Cement produced record financial results in the first three months of 2017. Despite lower Group volumes, we delivered significantly higher revenues and EBITDA after realigning prices late in 2016. Our new pricing strategy meant every tonne worked harder for us in Ni... |
Ambuja Cement sees market improvements02 May 2017, Published under Cement NewsAmbuja Cement, part of the LafargeHolcim group, reported that improving sales volumes, combined with favourable pricing contributed to positive 1Q17 results despite rising costs. Cement sales volume and price realisation improved in each consecutive month of the 1Q17, backed by good cement demand compared to the corresponding period a year, leading to a 5.3 per cent increase in net sales to INR25.33bn (US$395m). “With demonetisation largely behind us, we are well placed to serve both ... |
Sharjah Cement 1Q profit edges ahead02 May 2017, Published under Cement NewsUAE-based Sharjah Cement and Industrial Development Co registered a YoY rise of 1.75 per cent in 1Q17 profit. Earnings totalled AED11.6m (US$3.16m) in 1Q16 compared with AED11.4m (US$3.10m), according to a bourse filing on Monday. Shareholders equity stood at AED1.4bn in 1Q17 from AED1.39bn in 1Q16. Revenues in the first three months of this year fell by 5.09 per cent to AED165m from AED174m in the comparative period of 2016, the statement added. |
Cemex hikes cement price 20% in Mexico02 May 2017, Published under Cement NewsCemex increased its price for grey cement in Mexico by 20 per cent YoY in 1Q17. It represents the largest first-quarter increase in at least a decade and twice the seven per cent rate of inflation. No reasons were disclosed for the rise in prices. In addition, the company also announced a 4.3 per cent increase in investments to US$730m this year. "One of our highest priorities is to recover our investment grade, so we continue to make significant progress in this quarter, from our 20... |
Morgan Stanley rates UltraTech Cement rated ‘Overweight’02 May 2017, Published under Cement NewsUltraTech Cement has been rated ‘Overweight’ by Morgan Stanley with the EBITDA beat driven by costs, the research house notes. Morgan Stanley cited gradual improvement in industry cement demand, UltraTech Cements's positioning with timely capacity additions and its pan-India presence. Cost focus should further aid growth, it highlighted. "We believe current multiples are sustainable, as we project 25 per cent EBITDA CAGR over FY17-19. UltraTech reported a seven per cent YoY decline in FY1... |
Cemex reports jump in net profit28 April 2017, Published under Cement NewsCemex reported a jump in net profit to US$336m in the 1Q17 from an income of US$35m in the same period of last year, as the Mexican major as the cement maker continued to sell assets and reduce debt. On a like-for-like (LFL) basis for the ongoing operations and adjusting for currency fluctuations, consolidated net sales increased by six per cent during the 1Q17 to US$3.1bn versus the comparable period in 2016. Operating EBITDA on a LFL basis increased by two per cent during the quarter to ... |
Eagle Cement moves listing date28 April 2017, Published under Cement NewsEagle Cement Corp has moved the listing of its shares on the Philippine Stock Exchange (PSE) from 17 May 2017 to 29 May 2017 as it awaits all the necessary regulatory approvals. The cement producer is embarking on an initial public offering (IPO) to raise PHP9.2bn (US$183.6m) from an offer of up to 575m shares at a maximum price of PHP16/share. The company’s IPO has already obtained the green light from the Securities and Exchange Commission and is just waiting for the approval of the P... |
Semen Baturaja reports IDR259bn net profit in 201628 April 2017, Published under Cement NewsIndonesia state-owned cement producer Semen Baturaja reported an IDR259bn (US$19.4m) in net profit last year, ANTARA News reports. At the company's annual general meeting on Thursday, shareholders decided to pay out 25 per cent, or IDR64.772bn, of the profits as dividend. Around 76.24 per cent, or IDR49.38bn of the dividends are for the state, and the remainder for the investing public, corporate secretary, Zulfikri Subli, said. The remaining 75 per cent of the profit will be retained ... |