Cement News tagged under: corporate
Bestway Cement posts PKR3.07bn profit in 1QFY23-2431 October 2023, Published under Cement NewsPakistan Cement producer, Bestway Cement Ltd (BWCL) announced its financial results for the first quarter that ended 30 September 2023, on the Pakistan Stock Exchange (PSX) website. It reported a decrease in profit after tax to PKR3.07bn (US$1.11bn) from PKR3.30bn in the corresponding period last year. The high cost of fiancé (over PKR3bn) can be attributed to lesser profit during this period. Its net sales increased by 42.65 per cent to PKR36.22bn from PKR25.39bn during this period.... |
BUA Cement increases revenues by 28% in 9M2331 October 2023, Published under Cement NewsBUA Cement has released its 9M23 results and posted revenue of NGN335,863m up 27.9 per cent from NGN262,598m in 9M22. Operating profit increased from NGN99,245m in 9M22 to NGN119,683m in 9M23, up 20.6 per cent. Profit after tax for the 9M23 reached NGN76,065m up from NGN74014m in 9M22. Plant expansion at the Obu and Sokoto plants are ongoing with commissioning scheduled for the 1Q24 which will bring the company’s total cement capacity in Nigeria up to 17Mta. |
DG Khan Cement saw profits up by 70% YoY in 1QFY23-2431 October 2023, Published under Cement NewsDG Khan Cement Co Ltd of Pakistan has announced its financial results for the first quarter ended 30 September 2023 with details posted on the Pakistan Stock Exchange (PSX) website. Its net profit after taxation rose 70 per cent to PKR660.57m (US$2.38m) from PKR388.93m during this comparative period due to higher revenue. According to AHL Research, factors responsible for the higher profit include the reduction in coal prices along with a surge in cement prices. The company's net sal... |
Dangote posts 53% YoY rise in revenue in 3Q2330 October 2023, Published under Cement NewsDangote Cement Plc has reported revenue of NGN563.77bn (US$703.77m) in the third quarter of 2023, up 52.7 per cent compared to the same period in the previous year. Gross profit over the same period advanced by 46.3 per cent to NGN304.11bn, while pretax profit surged 132.4 per cent to NGN165.03bn. Profit after tax leapt to NGN98.95bn, marking a 141.3 per cent YoY advance. Meanwhile, earnings per share were up by 138.3 per cent YoY to NGN5.38 in the 3Q23. Even with a 33 per cent YoY ris... |
Holcim US expands Ste Genevieve plant30 October 2023, Published under Cement NewsIn support of its commitment to sustainably supply the nation’s growing construction industry, Holcim US has announced a US$100m investment in its Ste Genevieve cement plant— the largest cement-producing facility in North America and one of the most technologically advanced and environmentally efficient facilities in the world. The expansion will increase the plant's cement production capacity by more than 600,000tpa while reducing net CO 2 emissions, increasing circularity and accele... |
Saint-Gobain reports stable sales, supported by acquisitions30 October 2023, Published under Cement NewsSaint Gobain has reported stable like-for-like sales over the first nine months of 2023, compared to the same period a year earlier, despite a 3.1 per cent YoY contraction in the 3Q23. On a reported basis, sales were down 4.9 per cent to EUR36.5bn (US$38.6bn) in the 9M23 and fell by 10.5 per cent to EUR11.6bn in the 3Q23. Prices over the nine-month period advanced by five per cent YoY and by 1.9 per cent in the 3Q23, reflecting overall sequential price stability and generating a positive pri... |
Maple Leaf Cement profits increase to PKR1.62bn in 1QFY23-2430 October 2023, Published under Cement NewsPakistan cement producer Maple Leaf Cement Factory Ltd ( Kohinoor Textile Mills Ltd ) announced its financial results for the first quarter ended 30 September 2023, on the Pakistan Stock Exchange (PSX) website. Its net profit after taxation rose to PKR1.62bn (US$5.84m) from PKR1.37bn during this comparative period due to higher revenue. Its net sales increased to PKR16.67bn in the 1QFY23-24 from PKR12.82bn in the year-ago period. It incurred a higher distribution cost of PKR1.15bn ag... |
Power Cement reports losses in 1QFY23-2430 October 2023, Published under Cement NewsPower Cement Ltd in Pakistan announced its financial results for 1QFY23-24 on the Pakistan Stock Exchange (PSX) website. It posted a loss after tax of PKR540m (US$1.94m) during this period, compared to a loss of PKR271m in 1QFY23. The increased sales could not bring profit to the company account. The company's sales increased to PKR9.73bn in 1QFY23-24 from PKR5.57bn in the year-ago period. Similarly, the cost of sales also increased to PKR7.29bn from PKR4.76bn. It incurred a higher ... |
Holcim sees 4% organic growth in 3Q23 sales27 October 2023, Published under Cement NewsHolcim reported net sales of CHF7340m (US$8147m) in the third quarter of 2023, down 8.8 per cent in absolute figures but up 4.3 per cent organically when compared with the 3Q22 when net sales reached CHF8045m. Recurring EBIT increased by 3.1 per cent (14.1 per cent organically) to CHF1600m in the 3Q23 from CHF1551m in the 3Q22. Jan Jenisch, Holcim chairman and CEO, said: “Q3 confirms Holcim’s strong earnings profile, with broad-based growth drivers delivering another increase in profita... |
CEMEX reports 32% jump in EBITDA in 3Q2327 October 2023, Published under Cement NewsCEMEX has reported nine per cent YoY growth in sales for the third quarter of 2023. EBITDA over the same period advanced by 32 per cent, while the EBITDA margin expanded by 3.5 percentage points to 19.9 per cent. For the first time since the launch of CEMEX’s pricing strategy in 2021, designed to regain profitability after a surge in input cost inflation, quarterly EBITDA margin exceeded its goal of recovering 2021 margins, according to the company. Free cash flow after maintenance cap... |