Cement News tagged under: corporate
CRH 1H16 earnings to reach US$1.1bn driven by US and Asian markets27 April 2016, Published under Cement NewsIn its earnings statement for 1Q2016, CRH predicts that EBITDA will rise to EUR1bn (US$1.1bn) driven by growth in the United States and the Philippines. This is around five per cent up on last year, with the final figure to be announced when 1H2016 results are published on 25 August. Sales for 1Q2016 itself are up nine per cent YoY, with US sales up by 22 per cent and Asian sales up 12 per cent. European markets were reported to be flat. Some EUR85m (US$96m) was spent on acquisitions ... |
Pakistan: Maple Leaf reports earning up 49% in 9MFY1627 April 2016, Published under Cement NewsMaple Leaf Cement Factory Limited has reported earnings of PKR3.5bn (US$33m) in 9MFY16, up 49 per cent YoY. Maple Leaf’s sales rose 12 per cent YoY to PKR16.93bn (US$162m) for 9MFY16. Distribution costs and administrative expenses were also up slightly, reaching PKR1.3bn (US$13m). Earnings growth was driven by higher volumes, falling energy costs and a 52 per cent YoY decline in finance costs due to lower interest rates and deleveraging. |
Loesche recertified to ISO 9001 standard27 April 2016, Published under Cement NewsGerman equipment manufacturer Loesche has announced that it has been recertified to ISO 9001:2008 standard, maintaining the qualification that it first achieved in 1998. Angelika Wollenweber, Head of Quality Management, Standards & Regulations, stated: "A functioning quality management is indispensable. Our customers expect innovative engineering, precise plant construction and reliable service. We can only render these services if we adhere to the processes within the LOESCHE Group in ac... |
CRH faces investor opposition over CEO pay26 April 2016, Published under Cement NewsInstitutional Shareholder Services (ISS) has told investors in CRH to vote against the remuneration plan for Albert Manifold, the firm’s chief executive, according to reports by thisismoney. The remuneration package will be voted on by shareholders at the company’s annual general meeting (AGM) on Thursday (28 April). Mr Manifold, who is Ireland’s best-paid corporate leader, saw his pay rise to EUR5.53m (US$6.25m) in 2015. Thisismoney reports that his basic pay is set to rise by a furth... |
Dangote: 1Q2016 profits down 22% as volumes rise 70%26 April 2016, Published under Cement NewsDangote Cement has released its results for the year to March 31 2016. During this period volume sales grew 69.6 per cent to 6.4Mt, while profits slipped from NGN70bn (US$352m) to NGN55bn (US$276m). Price cuts in Dangote’s Nigerian home market meant that even as volumes climbed 45 per cent to 4.5Mt revenues increased more slowly, rising by 5.7 per cent to NGN107bn (US$538m). The firm estimates that its market share in the period was 66 per cent. Volume growth in other west and central ... |
Cemex offers to buy back up to $400 mln in debt26 April 2016, Published under Cement NewsCemex, Mexico, said on Monday it had launched an offer to buy back up to US$400mn of debt on senior note issues due to mature in 2018, 2019 and 2022. The company said in a statement the offer was for its 2018 floating rate notes, its 2019 notes bearing a 6.5 percent coupon and the 9.375 percent notes falling due in 2022. However, Cemex noted it would not buy back more than US$150mn of the 2022 debt. |
Lucky Cement posts PKR9.61bn net profit in nine months26 April 2016, Published under Cement NewsLucky Cement Limited, Pakistan, reported net profit of PKR9.61bn (US$91.72m) for the nine months ended March 31, 2016, which is 3.3 percent higher than the same period last year. The company's net sales revenue increased to PKR33.49bn. The increase in net sales revenue was mainly attributable to increase in sales volumes. The local sales volume of the company during the current nine months period registered a growth of 21.9 percent with 3.88Mt compared to 3.18Mt a year earlier, whereas ex... |
UltraTech profits rise 10% in 1Q16, operational costs cut26 April 2016, Published under Cement NewsUltraTech Cement, India reported a 10 per cent YoY rise in consolidated profit after tax for the quarter ended March. The company reported a consolidated net profit of INR7230m (US$108.52m) against 6750m (US$98.63m) in the same period last year, due to a strong operational performance. Net sales in the same period rose 5 per cent to INR68.5bn, from INR65.17bn a year earlier. Total cement demand for the quarter, the company said, grew by 15 per cent. "The operating costs reduced with oper... |
DG Khan Cement announces INR2.29bn profit, up 16%25 April 2016, Published under Cement NewsDG Khan Cement on Friday announced a net profit of INR2.29bn (US$34.32m) in the third quarter of fiscal year 2015-16 (3QFY16), up 16 per cent compared to INR1.98bn in the same period of the previous year. Earnings per share jumped to INR5.25 from INR4.52 last year. This took the cumulative nine-month (Jul-Mar) earnings to INR6.38bn, up 18.7 per cent compared to net profit of INR5.38bn in the same period of previous year. The company’s revenues showed a robust increase of 22 per cent year-... |
LafargeHolcim considering Vietnam exit25 April 2016, Published under Cement NewsLafargeHolcim Group, a joint venture between Swiss Holcim Ltd. and French Lafarge Group, may withdraw from Vietnam due to oversupply of cement in the domestic market, said Nguyen Cong Bao, general director of Holcim Vietnam, a subsidiary of Holcim Ltd. The group had a meeting with the Vietnamese Ministry of Construction to notify of the group’ business plans in Vietnam for the coming time, Mr. Bao was quoted by Dau Tu newspaper as saying Wednesday. According to the newspaper, Vietnam Cemen... |