Cement News tagged under: corporate
UAE: Fujairah sees profit 12% rise in 201613 February 2017, Published under Cement NewsFujairah Cement saw a 57.3 per cent drop in its profits during the 4Q16, according to a bourse filing. Profits fell to AED11.07m (US$3m) in 4Q16 from AED25.95m in 4Q15. However, full-year 2016 profits rose 12 per cent from AED50.65m in 2015. |
Cemex Latin American Holdings saw lower sales and profit10 February 2017, Published under Cement NewsCemex Latin American Holdings saw turnover decline by 7.8 per cent to US$1315.3m and EBITDA came off by 5.8 per cent to US$423.7m, with the margin recovering from 31.5 to 32.2 per cent. The trading profit recovered by 10.9 per cent to US$312.2m and after a further 13.6 per cent drop in financial expenses to US$63.7m and other items, the pretax profit advanced by 31.6 per cent to US$248.1m. After tax and minorities, the net attributable profit emerged 46.4 per cent higher at US$139.8m. The ne... |
Denmark: FLSmidth 2H16 late order pick up10 February 2017, Published under Cement NewsFLSmidth reports that in its 2H16 results, the EBITA margin was eight per cent (adjusted for one-off costs), adversely impacted by lower revenue, particularly in the first half. Towards the end of the year, activity picked up and the adjusted EBITA margin increased to 9.7 per cent in the fourth quarter. "After a weak first half, activity picked up, finishing the year on a strong note. Rising commodity prices positively impacted sentiment in the mining industry in 2016, although it has ... |
Cemex's consolidated 4Q16 and full year 2016 report10 February 2017, Published under Cement NewsCemex, SAB de CV announced that on a like-to-like basis for the ongoing operations and adjusting for currency fluctuations, consolidated net sales increased by four per cent during the fourth quarter of 2016 to US$3.2bn, and increased four per cent for the full year 2016 to US$13.4bn, versus the comparable periods in 2015. Operating EBITDA on a like-to-like basis increased by 10 per cent during the 4Q16 to US$654m and increased by 15 per cent for the full year to US$2.7bn versus 2015. ... |
Pakistan: Cherat Cement profit rises by 52%09 February 2017, Published under Cement NewsPakistan cement producer, Cherat Cement, has announced its 1HFY17 (July-December 2016) financial result. It reported a profit after tax (PAT) of PKR1025m (US$9.75m) during 1HFY17 against a PAT of PKR676m during 1HFY16, up 52 per cent YoY. According to a research report by Al Habib Capital Market, during 1HFY17, Cherat Cement reported a 17 per cent YoY growth in its top‐line attributable to rising dispatches, which were up 21 per cent YoY. The rise in dispatched stemmed from increased dome... |
Pakistan: Cherat Cement profit rises by 52%09 February 2017, Published under Cement NewsPakistan cement producer, Cherat Cement, has announced its 1HFY17 (July-December 2016) financial result. It reported a profit after tax (PAT) of PKR1025m (US$9.75m) during 1HFY17 against a PAT of PKR676m during 1HFY16, up 52 per cent YoY. According to a research report by Al Habib Capital Market, during 1HFY17, Cherat Cement reported a 17 per cent YoY growth in its top‐line attributable to rising dispatches, which were up 21 per cent YoY. The rise in dispatched stemmed from increased dome... |
India: Birla sees 8% drop in 3Q income09 February 2017, Published under Cement NewsBirla Corp reported a saw its net profit fall from INR139.9m (US$2.09m) in 3QFY15-16 to INR20.9m in 3QFY16-17. The company attributed the decrease to higher borrowing costs on account of the company’s acquisition of Reliance Cement Co and the reduction of treasury income as internal accruals were used to fund the purchase. Total income shrunk by 8.07 per cent to INR8489m in October-December 2016 from INR9234.7m in 3QFY15-16. Cement dispatches were down 11 per cent at 1.747Mt YoY. "... |
Rwanda: new CEO of Cimerwa and PPC Gauteng business unit executive09 February 2017, Published under Cement NewsFormer General Manager of PPC Cement’s Hercules and Jupiter operations in Gauteng, Bheki Mthembu, has been appointed the CEO of Cimerwa in Rwanda. Mthembu assumed his new duties as CEO from 1 December 2016 under the guidance of Njombo Lekula, Managing Director of PPC International Operations. With optimisation of Cimerwa currently in progress, Mthembu is looking forward to this new challenge and the year ahead. "While PPC’s well-established presence in Botswana and Zimbabwe had alread... |
Vulcan's pretax profit grows by 67%08 February 2017, Published under Cement NewsVulcan Materials' turnover increased by 4.7 per cent in 2016 to US$3592.7m and EBITDA rose by 17.3 per cent to US$965.5m. After a net interest charge 39.5 per cent lower at US$133.3m, there was pretax profit of US$547.3m, a 66.9 per cent improvement. At the net level there was an 89.7 per cent advance to US$419.5m. Capital expenditure rose by 21.1 per cent to US$350m and is forecast to be in the region of US$300m in 2017. EBITDA is estimated by the group to be in the region of US$1175m for 2... |
Kuwait Cement to sell stake in Kuwait Food Company08 February 2017, Published under Cement NewsAccording to reports in ArabianBusiness.com, Kuwait Cement will sell its stake in Kuwait Food Company (Americana) to Gulf-based investment group Adeptio. The US$4.42m deal follows Adeptio’s purchase of a majority stake in Americana, which it acquired in October for US$2.35bn. |