Cement News tagged under: corporate
Kohat Cement Co's profit rises by 25% YoY01 November 2023, Published under Cement NewsKohat Cement Co Ltd (KOHC) has announced its financial result for 1QFY23-24 at the Pakistan Stock Exchange (PSX) posting a profit after tax (PAT) of PKR2.230bn (US$7.92m) compared to a PAT of PKR1.785bn in a year ago period up by 25 per cent YoY. The result, highlights by AHL Research, says that the topline during 1QFY23-24 clocked in at PKR11.064bn, displaying a jump of 25 per cent YoY compared to PKR8.853bn in the year-ago period. This growth in 1QFY23-24 is attributable to an increas... |
CEMEX refinances US$3bn syndicated credit agreement01 November 2023, Published under Cement NewsCEMEX has successfully refinanced its US$3bn syndicated credit agreement, extending the maturity to 2028. The refinanced credit agreement consists of a US$1bn five-year amortising term loan, and a US$2bn five-year committed revolving credit gacility. This represents a reduction of US$500m in the term loan and an increase of US$250m in the revolver from the prior facility. The signing of the credit agreement is an integral part of a comprehensive financing plan designed to increase liquidit... |
Heidelberg Cement earns a net profit of BDT505.10m in 9M2301 November 2023, Published under Cement NewsHeidelbergCement Bangladesh Ltd earned a net profit of BDT505.10m (US$4.58m) in the nine months of January to September 2023 from a loss of BDT241.31m in the same period last year, according to the financial result of the company. The result tabulation shows that higher sales enable it to earn profit as its revenue rose eight per cent YoY to BDT13.86bn during this period. Warehousing, distribution and selling expenses rose more than 23 per cent YoY to BDT367.43m from BDT281.81m and ad... |
Caribbean Cement sees 58% rise in 3Q net income01 November 2023, Published under Cement NewsJamaica’s Caribbean Cement Co , part of the TCL Group , reported revenues of JMD7bn (US$45.4m) in the third quarter of 2023, up 13.4 per cent YoY from JMD6.2bn. Operating earnings rose by 36.8 per cent to JMD2.6bn in the 3Q23 from JMD1.9bn as revenue increased and costs were contained due to a drive in operational efficiency. The company’s consolidated net income increased by 58.3 per cent from JMD1.2bn in the 3Q22 to JMD1.9bn in the 3Q23. |
Cementarnica Usje sees 9M net profit up 77%01 November 2023, Published under Cement NewsNorth Macedonia-based Cementarnica Usje , owned by Greek cement producer Titan, reported 77 per cent YoY increase in net profit to MKD1.1bn (US$19m) in the January-September 2023 period. The company’s operating expenses declined 17 per cent YoY to MKD3.4bn in the 9M23 as material costs fell 23 per cent YoY to MKD1.9bn. It total operating revenue slipped by two per cent YoY to MKD4.8bn in the 9M23. |
Flying Cement Co reports 55% rise in 9M net profit01 November 2023, Published under Cement NewsPakistan-based Flying Cement Co Ltd reported unaudited net sales of PKR1147m in the quarter ended 30 September 2023 (1QFY23-24), up 27.3 per cent when compared with the year-ago period when net sales reached 901m. The company’s gross profit increased by 77.4 per cent to PKR239.9m in the 1QFY23-24 from PKR135.2m in the 1QFY22-23. Operating profit advanced by 81.5 per cent to PKR212.4m from PKR117m over the same period. Net profit increased by 55.2 per cent to PKR88.8m in the 1QFY23-24 f... |
Rockfort plant not damaged by earthquake01 November 2023, Published under Cement NewsCaribbean Cement Co Ltd says it Rockfort plant is operating as usual despite the earthquake on 30 October 2023. Carib Cement has denied reports that its Kingston plant in Jamaica was damaged due to a 5.6 magnitude earthquake. The company said videos shared on social media were false. It said its own investigations have revealed no damage at the plant and that operations are running as usual. Carib Cement said its technical team has advised that there was a brief shutdown... |
Wei Rushan becomes new WCA president01 November 2023, Published under Cement NewsThe World Cement Association has appointed Wei Rushan to be president of the association, replacing Founding President, Song Zhiping, on his retirement last week. Mr Wei has been president and executive director of China National Building Materials Co Ltd (CNBM), the world’s largest cement producer, since December 2022. Wei Rushan has extensive experience in strategy, investment and capital management, and transformation and development. He has had a range of senior roles within CNBM Grou... |
UltraTech to raise Indian cement capacity to 182Mta31 October 2023, Published under Cement NewsUltraTech 's Board of Directors at its meeting held today, approved the third phase of growth with an investment of INR130,000m (US$1561m) towards increasing the capacity by another 21.9Mta with a mix of brownfield and greenfield projects. Kumar Mangalam Birla, chairman of the Aditya Birla Group , said, “Over the past seven years, UltraTech has strategically invested over INR50,000 crores [INR500,000m] to support India's rapidly changing infrastructure landscape. Our fresh commitmen... |
Cementos Molins posts revenues of EUR1079m in 9M2331 October 2023, Published under Cement NewsCementos Molins has announced its financial results for the first three quarters of 2023, achieving revenues of EUR1079m, up 13 per cent compared to same period in 2022. The company reached sales growth across all business segments and most regions. On a LfL basis, revenues rose by 34 per cent. EBITDA reached EUR278m, representing a 33 per cent increase compared to the same period last year. This improvement is driven mainly due to the positive impact of higher volumes, the company’s... |