Cement News tagged under: corporate
Southern Province Cement posts net profit of SAR68m in 2Q2304 September 2023, Published under Cement NewsIn the January-June 2023 period, Southern Province Cement logged net profits after zakat and tax valued at SAR68m (US$18.1m) down 54.6 per cent YoY from SAR150m. Revenues declined by 6.74per cent to SAR526m in the 1H23 from SAR564m in the 1H22, while the earnings per share (EPS) plummeted to SAR0.49 from SAR1.07. During the 2Q23, the company posted 68.9 per cent lower net profits after zakat and tax at SAR19m, compared to SAR61m a year earlier. The revenues decreased by 3.42 per cent... |
Orient Cement welcomes new company secretary04 September 2023, Published under Cement NewsOrient Cement , part of the CK Birla Group , has announced the appointment of Diksha Singh as company secretary and compliance officer with effect from 2 September 2023. She will take over the role from Nidhi Bisaria, who resigned effective from 1 September 2023. Ms Singh is a science and law graduate, and is an associate member of the Institute of Company Secretaries of India. She has more than 14 years’ experience working for listed companies. Prior to joining Orient Cement, she he... |
JSW Cement announces key milestones01 September 2023, Published under Cement NewsJSW Cement has announced a number of milestones that underscore the company’s commitment to innovation, sustainability and expansion. Shiva Cement , a subsidiary of JSW Cement, has successfully commissioned its waste heat recovery systems, not only enhancing operational efficiency but also contributing significantly to the reduction of carbon emissions. “The utilisation of waste heat to generate energy aligns with the company’s commitment to sustainability and minimising its envi... |
Kohat Cement reports 18% increase in sales in FY2301 September 2023, Published under Cement NewsKohat Cement Company (KOHC) has reported sales of PKR38.92bn (US$126.9m) in the fiscal year ending 30 June 2023 (FY23), marking an 18.4 per cent increase on the previous year. Gross profit over the same period advanced by 6.3 per cent from PKR9.8bn to PKR10.4bn, while profit after tax saw a 15.9 per cent improvement from PKR5.02bn in FY22 to PKR5.82bn in FY23. Earnings per share over the same timeframe expanded by 15.9 per cent from PKR25.01 to PKR28.98. KOHC has also successfully ins... |
Institut Semen dan Beton Indonesia becomes an Affiliate Member of WCA01 September 2023, Published under Cement NewsThe World Cement Association (WCA) announced it is welcoming the Jakarta-based engineering specialist and industrial research consultancy firm, Institut Semen dan Beton Indonesia (ISBI) , as an Affiliate Member. Institut Semen dan Beton Indonesia, also known as the Indonesian Cement and Concrete Institute, has provided engineering training and consulting within the cement industry as well as the nickel, steel, power generation and mining sectors, for over 20 years. ISBI’... |
CEMEX acquires two Spanish quarries31 August 2023, Published under Cement NewsCEMEX is strengthening its aggregates supply in Europe with the purchase of two quarries near Madrid as part of its strategic bolt-on acquisition strategy. Madrid and its surrounding areas are currently undergoing major urban expansion. Through this acquisition, CEMEX is better positioned to serve customers in the area, particularly for infrastructure projects, says the company. The deal strengthens CEMEX’s limestone reserves and includes all necessary elements for CEMEX to provide a be... |
Deccan Cements posts fall in income in FY22-2331 August 2023, Published under Cement NewsDeccan Cements Ltd has reported total income of INR7908.3m (US$95.6m) in the year ended 31 March 2023 (FY22-23), down from INR8022.2m in FY21-22. Net profit after tax contracted from INR875.7m in FY21-22 to INR492.9m the following year, while earnings per share fell from INR62.52 to INR35.19 over the same period. Total expenses before finance costs, exceptional items and tax came in at INR7117.5m in FY22-23, marking an increase from the INR6561.1m seen in FY21-22. Revenue from sales of ... |
Attock Cement Pakistan reports 35% YoY profit growth31 August 2023, Published under Cement NewsAttock Cement Pakistan Ltd (ACPL) has announced its financial results for FY23 (ended 30 June 2023), posting a profit after tax of PKR1.516bn (US$4.98m) compared to PKR1.122bn in the same period last year. This marks a 35 per cent YoY increase. According to AHL Research, net revenue in FY23 came in at PKR25.477bn, up 24 per cent YoY from PKR20.479bn in FY22. Although total cement dispatches fell 11 per cent YoY to 2.032Mt, the increase in retention price was more than adequate to offset... |
Dalmia Cement announces new MD and CEO31 August 2023, Published under Cement NewsMr Puneet Dalmia will succeed Mahendra Sanghi as managing director and chief executive office of Dalmia Cement (Bharat) Ltd . Mr Singhi will step down on 8 December 2023 but continue in the role of director and strategic advisor to the MD and CEO. According to the company, Mr Dalmia is currently managing director of Dalmia Bharat Limited. He has been the driving force behind the company’s exponential growth since he took over the reins in 2004 and continues to spearhead Dalmia Bharat’s t... |
Adani Cements will not require external loans for capex expansion31 August 2023, Published under Cement NewsAdani Cements is looking to rely on operating cash flows and internal accruals to fund its INR460,000m (US$5.5bn) expansion capex over the next five years, without the need for external borrowings. The cement arm of the Adani Group, comprising ACC Ltd and Ambuja Cements , has set an ambitious target to achieve a production capacity of 140Mta by FY28, from the current 67.5Mta. “With the funds available from the cement operations, there is no need to resort to external borrowings for t... |