Cement News tagged under: corporate
Suez Cement results impacted by lower selling prices, higher energy costs12 February 2016, Published under Cement NewsSuez Cement Co, part of the Italcementi group, reported an 8.3 per cent drop in consolidated revenues for 2015 to EGP5.64bn (US$720m) from EGP6.15bn a year earlier. It recorded a net loss after non-controlling interest of EGP60m, from a prior-year profit of EGP50m. The company said that in the 4Q15, despite the strong demand and a balanced supply and demand situation, selling prices did not keep pace and further declined about three per cent from the prior quarter, cumulating in a 15 per c... |
Gulf Cement Co returns to profit, UAE12 February 2016, Published under Cement NewsGulf Cement Co reported net profits of AED24.54m (US$6.7m) in the fourth quarter of 2015, against losses of AED13.3m (US$3.62m) in the same quarter of 2014, according to a bourse filing on Thursday. Profits reached AED71.44m (US$19.45m) in the fiscal year 2015, a decline of 18 per cent from AED60.57m (US$16.49m) in FY14. The board recommended seven per cent cash dividends or AED 0.7 per share pay-out for the FY15, totalling AED57.49m. |
Pakistan: Cherat Cement 1HFY16 profit rises 6%12 February 2016, Published under Cement NewsPakistan producer Cherat Cement Co reported a profit after tax of PKR676.2m (US$6.48m) in the first half of FY16 versus PKR639.8m a year earlier, which translates to a six per cent YoY rise. The company reported stable dispatches (+1 per cent) stemming from rising domestic sales which were up by 13 per cent YoY. The advance in local dispatches was attributed to an acceleration in private sector construction activity and the partial materialisation of the projects under the government's bu... |
Southern Province Cement Line 2 due for end-June completion12 February 2016, Published under Cement NewsWork on Southern Province Cement's second production line at its Bishah plant in Saudi Arabia has been delayed, according to a company statement to the Saudi bourse. The company added that 83 per cent of the project has been completed so far and is scheduled for commissioning at the end of June 2016. The delay does not have any financial impact, the cement producer said. |
Cuba: Mártires de Artemisa to produce 142,000t in 201612 February 2016, Published under Cement NewsEmpresa de Cemento Mártires de Artemisa in Mariel, Cuba, is expected to produce 142,000t or some 30 per cent of total domestic cement output this year. Mártires de Artemisa produces P-225 cement and also has started delivering P-350. |
Cementir boosted by Scandinavia and Italy11 February 2016, Published under Cement NewsCementir reported yesterday in its 2015 preliminary figures that improved performances in Scandinavian countries and Italy, plus a stable contribution from the Far East group area offset lower earnings in Turkey and Egypt. Revenue from sales and services amounted to EUR969m, up 2.2 per cent YoY thanks to the sound performance of operations in Scandinavian countries, Malaysia, Italy and Egypt, which compensated for the deterioration seen in Turkey and China and the negative impact of the de... |
Boral reports increase in underlying net profit after tax11 February 2016, Published under Cement NewsBoral reported a 23 per cent increase in net profit after tax before significant items to AUD137m (US$97m) for the six months ended 31 December 2015, reflecting improvements in margins, stronger housing activity in the US and continued strength in its home market of Australia. Boral’s reported net profit after tax of AUD137m was 31 per cent higher than the previous corresponding period, with no significant items reported during this time. Sales revenue from continuing operations of AUD... |
Attock Cement first-half profits up by 12.5% YoY11 February 2016, Published under Cement NewsPakistan-based Attock Cement earned a 12.5 per cent rise in profit after tax of PKR1152m (US$11m) in the first half of 2016 compared to PKR1024m reported in the comparative period of the previous year. Net sales were virtually flat at PKR6396m against PKR6368m a year earlier. Distribution costs fell to PKR2241m from PKR4371m. In the 2Q16 alone, Attock reported earnings of PKR671m as compared to PKR481m in the preceding quarter, representing a growth of 40 per cent QoQ. The company... |
Algeria: Aïn Kebira receives stock exchange go-ahead11 February 2016, Published under Cement NewsAïn Kebira, a subsidiary of Groupe Industries de Cimenterie d’Algerie (GICA), has received the approval of the Algerian Commission of Stock Exchange Organisation and Surveillance (COSOB) to list its shares on the Algiers Stock Exchange. The introduction is scheduled to take place between 1 and 30 April 2016 by means of a capital increase. A total of 11.864m new shares will be offered at a price of DZD1600 (US$15.14) per share. |
Martin Engineering names new COO11 February 2016, Published under Cement NewsRobert Nogaj has been named Chief Operating Officer (COO) of Martin Engineering. Mr Nogaj will be responsible for all facets of the company’s business, including R&D, manufacturing, sales, marketing and finance. With 22 years of experience in bulk materials handling, he has previously served Martin Engineering as Vice President of Operations from 2001-15. |