Cement News tagged under: corporate
Kohat Cement reports profit increase of 32.7%05 September 2016, Published under Cement NewsKohat Cement announced a profit after tax of PKR4.4bn (US$42.1m) for the financial year ending 30 June 2016, a 32.7 per cent increase from the PKR3.2bn achieved in the corresponding period last year. Gross profit was posted at PKR6.49bn compared to PKR4.81bn in the previous year. In the given period, net sales increased 12.4 per cent to PKR14.02bn compared to PKR12.47bn in the previous year. Cost of sales for the same period was reported at PKR7.5bn, a slight decrease from the PKR7.65bn p... |
Vietnam: multiple mergers and acquisitions05 September 2016, Published under Cement NewsSiam City Cement (SCCC) is set to purchase 65 per cent of the stakes in LafargeHolcim Vietnam in a deal valued at US$524m. The acquisition is due to be completed in the 4Q once all administrative procedures are completed. This is not the first Thai purchase of Vietnamese cement operations. In 2012 SCG Cement bought Buu Long cement plant in the Dong Nai province. SCG has been developing multiple projects in the country, purchasing stakes in a range of building materials manufacturers,such ... |
New MD for Twiga Cement05 September 2016, Published under Cement NewsTanzania Portland Cement Company, or Twiga Cement, has appointed a new managing director following the departure of the company’s previous MD decision to take on a new role in parent company, HeidelbergCement Group. Alfonso Rodriguez was replaced by Alfonso Velez Martinez on 23 August, according to a company statement. Mr Martinez is said to have 20 years of experience in the cement industry. Mr Rodriguez is set to take on the role of General Manager for Central and South-East Africa Oper... |
Cimpor takes massive provisions in Brazil02 September 2016, Published under Cement NewsCimpor's first-half turnover dropped by 31.1 per cent to EUR897.3m, while EBITDA declined by 39.1 per cent to EUR170.1m. The amortisation and provision charge jumped from EUR100.6m to EUR527.9m as a result of a EUR433m good-will impairment charge relating to Brazil. This led to the trading result falling from a profit of EUR178.6m to a EUR357.7m loss and after a 9.2 per cent increase in the net financial charge to EUR182.2m there was a pretax loss of EUR539.9m against a profit of EUR11.8m. A... |
Lucky Cement's profits up 9.3%02 September 2016, Published under Cement NewsAs a result of an increase in turnover, Lucky Cement's full year profits increased by 9.3 per cent. The company reported earnings of PKR16.15bn (US$154.67m) compared to PKR14.78bn for the same period last year. These results are in line with the market expectations. Net sales were recorded at PKR98.65bn, compared to PKR96.47bn last year, and cost of production fell from PKR56.43bn to PKR54.24bn. A gross profit of PKR27.9bn was recorded, an 8.6 per cent increase from PKR25.68bn in the pre... |
Sumitomo Osaka 1.4Mt coal consumption in 201502 September 2016, Published under Cement NewsJapanese cement manufacturer Sumitomo Osaka Cement reported that it had consumed 1.41Mt of coal for the fiscal year 2015 (year end 31 March 2016). This figure is a 2.7 per cent YoY decrease from the fiscal year 2014, when consumption reached 1.44Mt. Petcoke consumption for the same period was 0.1Mt, up 19 per cent from 0.08Mt from fiscal year 2014. |
Nabil Francis new Managing Director of Ciments du Maroc02 September 2016, Published under Cement NewsThe Board of Directors of Ciments du Maroc has appointed Nabil Frances as new Managing Director, replacing Mario Bracci as of 1 September. Mr Francis was first employed by Italcementi Group in 1998 and has filled several positions of responsibility in France, Sri Lanka, Egypt and Bulgaria. Since 2013 he headed up the Zuari Cement Ltd subsidiary in India. |
Cementos Bío-Bío 1H16 profits down 10%02 September 2016, Published under Cement NewsChile’s Cementos Bío-Bío saw its profits during the first half of 2016 fall by 10.1 per cent to CLP9168.69m from CLP10,200.19m reported in 1H15. Revenues increased 6.6 per cent from CLP142,479.58m in 1H15 to CLP151,900m. |
Malaysia: CMSB 1H16 cement profits down 24%01 September 2016, Published under Cement NewsCahya Mata Sarawak Berhad (CMSB) has announced its earnings figures for the first half of 2016, including those of its cement division. This recorded a pretax profit of MYR41.7m (US$10.2m) on revenues of MYR275m. Both figures were down on those from the same period in 2015, with profits falling by 24 per cent and revenues 6.6 per cent lower. Profits fell faster than revenues due to CMSB’s increased reliance on imported clinker following plant shutdowns and the falling value of the ringgit... |
Dangote announces price rise, starts coal mining in November01 September 2016, Published under Cement NewsDangote Cement's sales growth remains robust with Nigerian vollumes up 15 per cent in July and August. However, in the current quarter, the company has seen disruption to the gas supply, its preferred fuel in Nigeria. This has led to a substantial hike in its fuel costs as the company increasingly relies on LPFO and, to a lesser extent, on coal as prices for these alternatives are up to three times higher. The significant devaluation of the naira against the US dollar has also contributed to... |