Cement News tagged under: corporate
Saudi Cement 1Q16 12.5% net profit fall19 April 2016, Published under Cement NewsSaudi Cement reported a 12.54 per cent drop in 1Q16 net profit on Monday, hurt by a decrease in sales and an increase in energy costs. One of the kingdom’s largest cement firms by market value made a net profit in the three months to 31 March of SAR265m (US$70.7m), down from SAR303m in the corresponding period of 2015, according to a bourse filing says AME Info. Construction-related firms have been put under pressure though by a slowdown in the sector, caused by cutbacks in state spending... |
Tanzania: Tanga Cement Co looks to cut costs with rail deal19 April 2016, Published under Cement NewsThe Tanga Cement Company has signed a deal with Tanzania Railway Ltd to transport 35,000t of cement a month to Mwanza and Kigoma. The deal would see the state rail company ship 15,000t to Mwanza on Lake Victoria and 20,000t to Kigoma on Lake Tanganyika. Both destinations are remote from cement producing regions and as a consequence currently pay high prices for cement. Tanzania’s Citizen newspaper reports that cement prices in the two cities are between US$7.76 and US$8.76 per bag. Thi... |
Pakistan: Fauji Cement Co 64% growth for 9MFY15-1619 April 2016, Published under Cement NewsFauji Cement Co Ltd (FCCL), one of Pakistan's largest cement manufacturers and exporters, on April 18 reported earnings of PKR4.33bn (US$41.34m) for 9MFY16 compared to PKR2.65bn in 9MFY15, posting a growth of 64 per cent YoY. Analysts at BMA Capital Management Ltd attributed the growth in earnings firstly to a 13 per cent YoY growth in revenue due to higher dispatches and secondly to an 11 per cent growth in gross margins. The increase in gross margins can be attributed to a declining cost ... |
CRH boss Ireland’s best-paid CEO18 April 2016, Published under Cement NewsAlbert Manifold, chief executive of CRH, is Ireland's best-paid CEO, earning EUR5.53m a year (US$6.25m) according to a survey by the Sunday Independent. Mr Manifold earns over EUR1m more than the next best-remunerated boss, Kerry Group’s Stan McCarthy. CRH has expanded rapidly in recent years, taking on debt to purchase assets from LafargeHolcim as the latter shrank down its operations to satisfy regulators. CRH is now thought to be less keen on acquisitions as it works to integrate it... |
Republic Cement to be delisted from Philippine stock exchange18 April 2016, Published under Cement NewsThe Philippine Stock Exchange has approved the delisting of cement-maker Republic Cement & Building Materials Inc., formerly Lafarge Republic Inc. (LRI), effective April 25 this year. Republic Cement, which is now 99.09 per cent owned by the consortium of conglomerates Aboitiz Equity Ventures (AEV) and British firm CRH Holdings, is exiting the local bourse after completing a voluntary tender offer to minority shareholders. Trading on shares of Republic has been suspended since September ... |
TPCC profits rise, dividend announced18 April 2016, Published under Cement NewsTanzania Portland Cement Company (TPCC) profit increased by three per cent to TZS56.2bn (US$25.72m) in 2015, despite depreciation of the shilling that had a negative impact on fuel, spares and quarry services, according to a report in the Tanzania Daily News. TPPC, trading on the Dar es Salaam Stock Exchange (DSE) as Twiga cement, said profits rose due to stable domestic cement demand and an increase in production capacity last year which pushed up sales volumes by 22 per cent. The compan... |
Najran Cement profits suffer steep fall18 April 2016, Published under Cement NewsNajran Cement (Saudi Arabia) posted a net profit of SAR61.08m (US$16.29m) in the first quarter of 2016, registering a decline of 33.6 per cent from SAR92m (US$24.53m) in the same period in 2015. The profit slump was due to decreased sales and production in combination with a rise in the cost of imported clinker used in the manufacture of cement, Najran said in a statement to the Saudi Stock Exchange (Tadawul) on Sunday. It added that rising general and administrative expenses despite an ... |
Hail Cement profits slips 12 per cent18 April 2016, Published under Cement NewsHail Cement Company, Saudi Arabia, posted a 11.74 per cent decline in net profit for the first quarter of the fiscal year 2016, according to a bourse filing posted Sunday. The cement firm generated SAR33m (US$8.8m) net profit, down from SAR37.5m (US$10m)in the prior-year period. The profit decline was ascribed by the company to a rise in cost of sales due to market volatility. |
India: LafargeHolcim sale temporarily halted by court18 April 2016, Published under Cement NewsThe sale of 11Mta of LafargeHolciim assets in India has been put on hold by India's Competition Appellate Tribunal. According to Mint an appeal has been lodged by Dalmia Cement (Bharat) Ltd. against the Competition Commission of India’s decision ordering the divestment of Lafarge India. The tribunal's decision will delay the sale process by at least three weeks, until May 9. Last week saw the close of bidding for the assets - three integrated plants and two grinding plants with a combi... |
Kazakhstan: Steppe Cement sales down as demand tumbles18 April 2016, Published under Cement NewsSteppe Cement has seen sales and revenue fall in the first quarter of 2016 as the company predicts that demand in Kazakhstan will be 11 per cent lower this year than it was in 2015. According to a report from DigitalLook, Steppe Cement’s volumes were down one per cent YoY in Q1 2016, falling to 190,953 tonnes. Revenues fared worse, falling by 12 per cent to KZT2.3bn (US$6.8m) over earnings in the same period last year. Ex-factory prices have declined by 13 per cent. Despite this, Step... |