Cement News tagged under: profit
Lucky Cement is reaping the benefits of expansion25 March 2024, Published under Cement NewsAccording to AKD Research, Lucky Cement has demonstrated prowess in seizing opportunities, particularly through efficient coal inventory procurement, per management guidance. This strategy has resulted in the company achieving the highest gross margins among its peers, standing at 36.4 per cent in 1HFY23-24, with unconsolidated earnings doubling over the previous year. Similarly, consolidated earnings remained robust, driven by the growth in power subsidiary earnings (up 84 per cent YoY) a... |
West China Cement issues profit warning16 August 2022, Published under Cement NewsWest China Cement has issued a profit warning for the six months ended 30 June 2022. According to the company, net profit attributable to shareholders is expected to fall by 40-45 per cent compared to the same period a year earlier. One of the reasons for the decline is the group’s foreign exchange gain which came in at CNY27.5m (US$4.05m) in the first six months of 2022, compared to a gain of CNY347.3m in the same period in 2021. This is due to the exchange rate difference incurred on int... |
Adelaide Brighton pulls 2020 profit guidance02 April 2020, Published under Cement NewsAustralia’s Adelaide Brighton has pulled its 2020 profit guidance due to the economic uncertainty resulting from the coronavirus pandemic, but noted it has AUD450m (US$274.55m) in cash and undrawn bank facilities. According to the company’s webpage, it still has no known cases of COVID-19 across its business. "All our 130+ locations remain open for business and we are well stocked with raw materials to meet the needs of all our valued customers. We’ll continue to meet with our customers to... |
Adelaide Brighton issues profit warning for 201910 May 2019, Published under Cement NewsAustralia's Adelaide Brighton has warned that profits for 2019 could be 10-15 per cent lower than the AUD190.1m (US$133m) recorded in 2018, due to weaker demand in residential construction and high competition from imports. The company attributed the profit warning to "further softening of demand for construction materials in the residential market, increased competition from cement imports, increased competitive pressures in Queensland and higher costs of key raw materials compared to the... |
Chinese cement industry reaches record monthly profit06 June 2018, Published under Cement NewsThe profit of the Chinese cement industry reached a record monthly high of CNY14.7bn (US$2.3bn) in April, according to the China Cement Association. Over the first four months of 2018, profits increased 220 per cent YoY to CNY33.7bn. The profit surge has been attributed to the government scheme to reduce overcapacity in the sector, which has reduced the supply of cement, reports the Xinhua News Agency. As a result, prices are expected to remain high even during the upcoming season. Nat... |
Oman Cement profit surges 39%11 October 2016, Published under Cement NewsOman Cement Co announced that it has achieved a 38.78 per cent growth in net profit, reaching OMR9.68m (US$25.14m) for 9M16, compared to OMR6.98m for the same period a year earlier. Revenue also grew by 12.45 per cent to OMR43.75m for the period, up from OMR38.9m the previous year. Total expenses increased 5.93 per cent from OMR31.02m to OMR32.86m and sales income grew 12.18 per cent to OMR42.3m in the period under review when compared to OMR37.71 per cent in the year prior. The financ... |
LafargeHolcim05 October 2016, Published under Cement NewsLafarge Zimbabwe’s first half turnover increased by 4.3 per cent to US$26.5m, but the loss advanced by 61.9 per cent to US$2.25m, reflecting increased competition, including the arrival of a new competitor. Another competitor is threatening to close capacity unless the government acts to curb imports. |
Jordan: Northern Cement 2Q16 profits drop11 August 2016, Published under Cement NewsNorthern Cement Company have reported a 7.6 per cent decline in profits to JOD3.79m (US$5.4m) for the second quarter of 2016, compared to profits on JOD4.1m seen in the same period last year. Profits for the first half of the year also fell, dropping 8.71 per cent YoY. Profits for the first half of 2016 were JOD6.8m compared to JOD7.4m in the first half of 2015. |
Saudi Arabia: Northern Cement profits fall 24%26 July 2016, Published under Cement NewsNorthern Region Cement Company reported a net profit of SAR48.66m (US$13m) in 2Q16, down 24 per cent from SAR64m (US$17m) compared to the same period last year. However, profits were up 13.4 per cent compared to 1Q16. This QoQ rise is due to increased clinker sales and the YoY decrease is attributed to increased production costs as a result of higher energy prices and falling sales. Northern Cement’s profits for the first half of the year reach SAR91.6m, a 20.4 per cent decline from SAR11... |
Pakistan: 13% YoY surge in cement sales boosts producers' profits11 May 2016, Published under Cement NewsPakistan's cement industry's profit rose 30 per cent to PKR45.169bn (US$431.6m) in the first nine months of the current fiscal year as there was a surge in sales, supported by soft oil and 11-year low coal prices, according to the Topline Securities Ltd brokerage. In the July-March period of the last fiscal year, the local industry earned PKR34.847bn. The profitability growth was supported by 13 per cent YoY growth in sales as a result of higher local dispatches, firm local pricing, 802 b... |