Cement News tagged under: corporate
Kuwait Cement 3Q profits up 19%10 November 2016, Published under Cement NewsKuwait Cement posted a 19 per cent YoY growth in profits for the 3Q16. Earnings increased to KWD3m (US$9.9m) in 3Q16 compared to KWD2.55m in 3Q15. However, during the nine month period profits fell seven per cent to KWD15.2m from KWD16.3m in the same period last year. This decline in 9M profit was attributed to a decreased in gross profits by KWD1.45m as well as a decline in investment profits worth approximately KWD561,968. |
India: Orient Cement posts US$4.4m Q3 loss10 November 2016, Published under Cement NewsOrient Cement has recorded a loss of INR294m (US$4.4m) for the quarter to the end of September 2016, CNBC’s Money Control reports. The loss stands in contrast to the same period last year, in which Orient made a profit of INR280m. The current quarter did see revenues rise by 11 per cent to INR4.45bn. “Our markets and plants underwent some difficulty because of monsoon rains. It led to operational challenges,” said Deepak Khetrapal the firm’s MD and CEO. Khetrapal added that volumes ... |
HeidelbergCement sees improved results across the board for 3Q1609 November 2016, Published under Cement NewsIn its first results that include the consolidation of Italcementi, HeidelbergCement reported a significant improvement in sales volumes, revenue and operating income in the third quarter of 2016. Cement sales jumped 52 per cent to 33Mt while aggregates volumes advanced 11 per cent to 80Mt and ready-mix concrete deliveries were up 29 per cent to 12Mm 3 . In terms of deliveries, demand rose in several markets, particularly in Europe, but in some parts of North America the company reported ... |
India: Ramco sees 45.6% increase in 2QFY16-17 net profit09 November 2016, Published under Cement NewsRamco Cements reported a 45.6 per cent rise in net profit to INR2.07bn in the second quarter ended 30 September 2016 compared to INR1.42bn for the same quarter a year ago. The company’s income increased 13.8 per cent from INR10.32bn in 2QFY15-16 to INR11.74bn in the 2QFY16-17. |
Bolivia’s Morales signs off 1.3Mta cement works plan09 November 2016, Published under Cement NewsPresident Evo Morales authorised the construction of a US$306m cement plant in Potosí, Bolivia. The new 1.3Mta works will be built in Cutara, near Karachipampa, near an important limestone deposit. Around US$245m is earmarked for the actual plant while the remainder will be spent on complementary services such as electricity, gas, roads and the installation of potable water. |
Dangote Group to spend US$20bn on investments by 202009 November 2016, Published under Cement NewsDangote Group is planning to invest over US$20bn (NGN630.5bn) and engage over 200,000 additional workers in various projects to impact the Nigerian and African economy by 2020. While most of its output comes from four plants in Nigeria, Dangote Group Executive Director, Mansur Ahmed, said there were several other cement works in various other African countries. "We have grown in terms of volume and geographical space. It is our intention to continue to grow. Our expectation is that by ... |
India: demand set to rise in Telangana and Andhra Pradesh09 November 2016, Published under Cement NewsManufacturers in the southern Indian states of Telangana and Andhra Pradesh have said that they expect cement demand to increase by around 20 per cent over the next 2-3 years, reports The Hindu newspaper. “The ongoing infrastructure projects in the two states along with government demand for welfare schemes are expected to drive growth for next two-three years,” said S Sambasiva Rao, executive director, My Home Industries, which sells Maha Cement. Current demand in the two states is es... |
Sumitomo Osaka Cement reports 4.4% rise in 1H net profit08 November 2016, Published under Cement NewsSumitomo Osaka Cement Co saw a 4.5 per cent YoY fall in revenues from JPY115.65bn (US$1.11bn) to JPY110.44bn in the first half ended 30 September 2016. While its pretax profit also decreased over the one-year period, from JPY11.25bn to JPY10.43bn, the company was able to report a 4.4 per cent YoY rise in net profit from JPY7.67bn to JPY8.01bn in April-September 2016. For the full-year 2016, Sumitomo expects to achieve revenues of JPY230bn while pretax profit is forecast at JPY22.5bn ... |
Cimentos de Moçambique increases prices 5-10%08 November 2016, Published under Cement NewsCimentos de Moçambique, Mozambique’s largest cement producer, has raised its prices by 5-10 per cent. The lowest price rise recorded in the company’s two plants in Matola, southern Mozambique. The price of a 50kg bag of cement rose from MZN347 (US$4.49) to MZN364. In the northern port of Nacala, price increases were higher, from MZN390 to MZN429/50kg bag, while at the central Mozambican town of Dondo a similar price hike of 10 per cent was carried out. The company has attributed the... |
Raysut: Barwaaqo Cement makes steady progress08 November 2016, Published under Cement NewsRaysut Cement’s cement plant project in Berbera, Somaliland, is progressing well, according to company sources. Barwaaqo Cement Co has completed soil investigation studies and is moving to select contractors. “The Engineering-Procurement-Construction (EPC) contractor shall be selected shortly. The project is expected to be complete within 12 months from the date of selecting the EPC contractor,” Ahmed bin Yousuf bin Alawi al Ibrahim, chairman of the company’s Board of Directors. The Be... |