Cement News tagged under: corporate
Gharibwal Cement's profit decreases in FY2329 September 2023, Published under Cement NewsGharibwal Cement Ltd (GWLC) announced its financial results for 30 June 2023, on the Pakistan Stock Exchange’s 27 September 2023 website. The company saw a decrease in its profit to PKR1.23bn (US$430.1m) from PKR1.35bn earned in the same period last year. This represents a nine per cent YoY fall in profit YoY. The major factors responsible for this reduction were increased sales, selling and distribution expenses, and higher taxation and finance costs. The company sales increased by... |
Hoffmann Green signs partnership with POINT.P29 September 2023, Published under Cement NewsHoffmann Green Cement Technologies has signed a structuring partnership with the flagship brand POINT.P to distribute clinker-free cement. Through its network of over 1000 sales outlets, POINT.P markets all the products, solutions and services needed to build a sustainable home. Following the agreement, POINT.P is continuing its efforts to deploy low-carbon solutions in line with its objective of reducing carbon emissions linked to the use of cement (ready-mix concrete, concrete bloc... |
Raysut Cement appoint a new CEO29 September 2023, Published under Cement NewsRaysut Cement Co has appointed Mr Tarek Talaat as its new CEO. Mr Talaat has 30 years of experience in the cement sector. He has worked at several leading companies in his career, including Holcim, Arabian Cement and Ras Al Khaimah White Cement. Mr Talaat has a bachelor’s degree in civil engineering from Cairo University in 1990 and studied financial management at the French INSEAD University before adding an Executive MBA from the Swiss Business School in Zurich, Switzerland. |
Dewan Cement reports losses on higher costs in FY22-2328 September 2023, Published under Cement NewsDewan Cement Ltd (DCL), subsidiary of Mega Conglomerate Pvt Ltd posted its financial results for FY22-23 on the Pakistan Stock Exchange (PSX) website on 26 September 2023. It reported a loss after taxation of -PKR586m against a loss of -PKR703m reported in a comparative period last year. The lower loss is attributed to the high cost of sales during this period despite better earnings of other income. According to the company's results, its sales increased to PKR20.19bn from PKR16.51bn... |
Thatta Cement's profit increased in FY22-23 and plans share buyback28 September 2023, Published under Cement NewsThatta Cement Co Ltd (THCCL) announced its financial results for the year ended 30 June 2023 (FY22-23) at the Pakistan Stock Exchange (PSX) on 27 September. It reported an increase in profit after tax to PKR249m (US$0.86m) from PKR119m earned in the corresponding period last year. This reflects a growth of 109 per cent YoY, mostly due to higher sales and other income that made the company report a better profit this year. Its net sales increased to PKR5.41bn from PKR4.26bn during this peri... |
Saint-Gobain to acquire Adfil NV28 September 2023, Published under Cement NewsSaint-Gobain has entered into an agreement to acquire Adfil NV, a specialist in fibres for concrete reinforcement. Adfil operates two plants in Belgium and generated revenues close to EUR40m in 2022. In addition to Chryso and GCP’s admixtures, Adfil’s performance fibres contribute to the reduction of reinforced concrete’s CO 2 footprint, the improvement of lead times and productivity for construction projects, and an increased lifespan for concrete. Adfil will be consolidated within Saint... |
BCMA re-elects Kabir as President for two years28 September 2023, Published under Cement NewsMD Alamgir Kabir has been re-elected as President of the Bangladesh Cement Manufacturers Association (BCMA) for 2023-24 and 2024-25 during the 22nd and 23rd AGMs held in Dhaka on 26 September. He is sponsor director and vice chairman of MI Cement Factory Ltd and has over three decades of business experience in the trading and manufacturing sectors. At present, he is also chairman of GPH Ispat Ltd and MD of Crown Cement Concrete and Building Products Ltd. In addition he holds director... |
Holcim US rolls out ECOPact to Dallas-Fort Worth27 September 2023, Published under Cement NewsBuilding on the success and growth of its ECOPact low-carbon concrete, Holcim US has now introduced the sustainable construction material in the rapidly expanding Dallas-Fort Worth metroplex. An industrywide commitment to lowering the carbon footprint of the built environment is driving the construction sector to act quickly to decarbonise by midcentury, says Holcim. “Dallas-Fort Worth has consistently ranked as one of the nation’s fastest-growing areas over the last decade,” sai... |
Keerthi Industries reports 4% drop in revenue27 September 2023, Published under Cement NewsKeerthi Industries Ltd (formerly Suvarna Cements Ltd) has reported revenue of INR2405.6m (US$28.9m) in the FY22-23, ended 31 March 2023, down four per cent compared to INR2499.5m in the same period a year earlier. Profit before interest and depreciation declined from INR348.5m in FY21-22 to INR17.4m a year later, while the INR222.5m pretax profit seen in FY2021-22 fell to a loss of -INR110.7m in FY22-23. The company produced 478,515t of cement over FY22-23 along with 474,584t of clinker.... |
Shree Cement approves NCDs to fund expansion27 September 2023, Published under Cement NewsShree Cement has approved plans to raise INR7000m (US$84.11m) through the issue of non-convertible debentures (NCD) on a private placement basis. According to Realty, the secured, rated, redeemable and taxable NCDs with a base issue size of INR3500m, with an option to retain oversubscription of up to INR3500m, will be allotted today (26 September 2023) at a face value of INR100,000 each for cash at par. The date of maturity of the NCDs to be issued on a private placement basis to certai... |