Cement News tagged under: corporate
James Hardie sees sales slip 5% in 1QFY23-2418 August 2023, Published under Cement NewsJames Hardie has posted global net sales of US$954.3m in the first quarter of FY23-24 (ended 30 June 2023), down five per cent from the US$1000.9m seen in the same period a year earlier. Adjusted EBITDA advanced 12 per cent YoY from US$248.9m in the 1QFY22-23 to US$279.1m in the same period a year later, while the adjusted EBITDA margin improved from 24.9 per cent to 29.2 per cent over the same timeframe. The North America fibre cement business saw net sales of US$694.8m in the 1QFY23-... |
Misr Cement (Qena) reports revenue advance in 1H2317 August 2023, Published under Cement NewsEgypt-based Misr Cement (Qena) Co has reported net sales of EGP1900m (US$61.49m) for the six months ended 30 June 2023, up from EGP1295m in the same period a year earlier. Net profit before income taxes for the 1H23 has come in at EGP86.37m, down from EGP101.46m in the opening six months of 2022, while operating income has advanced from EGP131.62m in the 1H22 to EGP172.98m in the same period the following year. The second quarter of 2023 saw net sales of EGP994.39m, an advance on the EGP... |
Fletcher Building posts EBIT growth of 6% in FY2317 August 2023, Published under Cement NewsFletcher Building’s FY23 financial result continued to build on the progress made in both EBIT levels and EBIT margins over the last several years. “Despite softer residential markets in New Zealand and Australia, and the major New Zealand weather events in the second half, group EBIT before significant items grew by six per cent in FY23 to NZD798m [US$475.7m]," said Fletcher Building Chief Executive Ross Taylor. "Group EBIT margin of 9.4 per cent in FY23 lifted from 8.9 per cent in FY22,... |
CRH attracts new investors prior to US move17 August 2023, Published under Cement NewsCRH is attracting new investment prior to its move to the New York Stock Exchange in September this year. According to the Irish Independent, at least 26 hedge funds have announced new or expanded American depository receipts (ADRs) in CRH. In total, hedge funds bought a net 7.53m ADRs in CRH in the three months up to 30 June 2023, reports Bloomberg. Among the investors are Soros Fund Management, owned by billionaire George Soros, which now holds ADRs worth around US$20m, and Seth Klarma... |
Bestway Cement sees 16% YoY decline in cement dispatches17 August 2023, Published under Cement NewsBestway Cement Ltd has reported a 16 per cent YoY decline in total cement disptaches in the fiscal year 2023 (ended 30 June 2023) due to reduced local and export sales volumes. The company attributes the decline to fierce competition. However, Bestway retained its position as the largest cement producer and the market leader in the country on the back of its superior quality and wide product range, according to the company. The company recorded a gross turnover of PKR120bn (US$405m) in ... |
Edmonton plant start CCUS system16 August 2023, Published under Cement NewsHeidelberg Materials' Edmonton cement plant is one key step closer to pouring the foundations of a full-scale carbon capture utilisation and storage (CCUS) system that could help make its operations carbon neutral. Five years in the making, a pilot system will pull 300kg per day of carbon from the plant’s production facility. The new CCUS equipment started up on Tuesday and uses technology from Mitsubishi Heavy Industries. Project Director, Corwyn Bruce, told reporters that the compa... |
FLSmidth reports 28% revenue increase in 1H2316 August 2023, Published under Cement NewsFLSmidth has reported revenue of DKK12,415m (US$1822m) in the first half of 2023, compared to DKK9733m in the same period a year earlier. EBITDA fell from DKK770m in the 1H22 to DKK737m in the 1H23, while profit over the same timeframe declined from DKK257m to DKK202m. Cement revenue advanced nine per cent YoY to DKK3252m in the 1H23, while the mining business saw its revenue expand by 26 per cent YoY to DKK8536m. The first half of 2023 saw the company report a total order intake of 11,155... |
Cockburn Cement awards contract to SIMPEC16 August 2023, Published under Cement NewsCockburn Cement , a subsidiary of Adbri , has awarded Australian construction firm SIMPEC with the contract for the expansion of its Kwinana cement plant. The contract is valued at AUD105m (US$68m) with the total value of the expansion project put at AUD420m, and includes two 100tph grinding units, a 110,000t raw materials store, and a reclamation system. “This new contract demonstrates the company's track record of delivering for its clients. We are very pleased to secure this work an... |
Sinai Cement cuts consolidated loss by 22% YoY in 1H2316 August 2023, Published under Cement NewsSinai Cement Co posted a 22.12 per cent YoY drop in consolidated net loss attributable to the holding company for the 1H23, according to the consolidated financial income statement filed to the Egyptian Exchange (EGX) on 15 August. The company incurred a consolidated net loss excluding minority interest of EGP79.719m (US$2.58m) in 1H23, down from a net loss of EGP102.359m in 1H22. Net sales stood at EGP2.363bn in the period from 1 January until 30 June of this year, up from EGP1.025bn i... |
Monarch Cement posts increased net sales in 1H2315 August 2023, Published under Cement NewsUS-based The Monarch Cement Co has reported condensed consolidated net sales of US$121.94m in the first half of 2023, up from US$95.85m in the same period a year earlier. Gross profit over the same timeframe improved from US$28.21m to US$39.54m, while income from operations advanced from US$17.37m to US$28.31m. Monarch Cement is a US-based producer of Portland cement, primarily serving Kansas, Iowa, southern Nebraska, western Missouri, northwest Arkansas and northern Oklahoma. In the th... |