Cement News tagged: Corporate
Bamburi Cement posts 88% drop in 1H profits
Kenya-based Bamburi Cement Ltd reported a profit of KES95m (US$0.79m) for the January-June 2022 period, 87.7 per cent down from KES776m in the 1H21. However, the group posted a revenue of KES20.1bn, up 2.6 per cent YoY from KES19.6bn in the 1H21. The company has attributed the decrease to high operational costs with operating profit in the 1H22 almost five times lower at KES210m when compa...
Al Jouf Cement sees profits tumble 92% in 1H22
Saudi Arabia’s Al Jouf Cement Co has reported a 19.2 per cent YoY fall in revenue to SAR98.29m (US$26.2m) in the first half of 2022. Net profit after zakat and tax tumbled 92 per cent over the same period to SAR1.82m, compared to SAR25.7m in the 1H21. According to the company, the fall in profit was due to lower sales volumes along with reduced domestic selling prices. The second quarter...
Dongwu Cement sees revenue fall 26% in 1H22
China's Dongwu Cement International Ltd has reported revenue of CNY177.8m (US$25.9m) in the first half of 2022, down 25.7 per cent on the same period a year earlier. In terms of gross profit, a loss of CNY13.5m was seen in the 1H22, compared to a profit of CNY45.6m in the 1H21. According to the company, disruptions arising from the COVID-19 pandemic and subsequent quarantine measures had a si...
Cementos Concepción starts commissioning new plant
Paraguay’s Cementos Concepción (CECON) has started commissioning its new 1.01Mta plant in Concepción, San Lázaro, by commencing crushing limestone to be used in the full production process. The works has a 430tph crusher. "This start-up was completely successful, it is very important because officially the teams are ready and begin to work with real material with which the entire production...
RCC Cements Ltd appoints company secretary and compliance officer
India’s RCC Cements Ltd has appointed Shimpy Goyal as company secretary and compliance officer, effective from 25 August 2022. Ms Goyal succeeds Ms Bhawna Arora who resigned from the position on 18 August 2022.
Cemex plans 30% expansion at Caribbean Cement Co
CEMEX plans to expand the production capacity at its subsidiary in Jamaica, Caribbean Cement Co Ltd (CCCL). This expansion aims for an up to 30 per cent increase CCCL’s cement capacity, through an investment of approximately US$40m for the first phase of the project. The announcement was made by CEMEX’s CEO, Fernando A González, during his visit to Jamaica, jointly with the Prime Min...
South Valley Cement Co posts net loss of 55% in 1H22
South Valley Cement Co posted a net loss of 54.50 per cent during the first 1H22 to EGP117.08m (US$31.2m), compared to EGP75.75m in the 1H21. However, sales stood at EGP325.86m in the 1H22, a considerable growth from EGP106.43m in 1H21. In the second quarter of 2022, the cement company reported higher net losses at EGP85.87m from EGP40.05m in the 2Q21. In the meantime, the company’s sa...
Mira SA plans 0.7Mta plant in Cameroon
Mira SA will soon launch the construction of an industrial cement plant in the north region of Cameroon. The XAF120bn (US$182.9m) project see the construction of a 0.7Mta clinker production unit. The completion of this project will make Mira SA the second-largest clinker producer in the region, behind Cimencam. In October 2021, the country's Prime Minister, Joseph Ngute, launched the c...
Dongwu Cement appoints executive vice president
China's Dongwu Cement International Ltd has appointed Mr Xu Zhenghua as executive vice president, effective from 24 August 2022. Mr Xu brings with him extensive experience in business operations and management, having served as general manager and assistant general manager at Shanghai Xinhai Aviation Co Ltd, as well as deputy general manager at Oriental International Logistics Co Ltd. H...
CRH posts 14% YoY increase in sales in 1H22
CRH has reported a 14 per cent YoY increase in sales to US$15bn in the first half of 2022. EBITDA over the same period has improved by 21 per cent to US$2.2bn, with the EBITDA margin gaining 90bps to 14.7 per cent. Earnings per share have advanced by 36 per cent to US$1.21. First-half profit after tax came in at US$0.9bn, up 29 per cent YoY “CRH has delivered another strong performance wi...
TPI Polene posts 2Q22 sales growth of 21%
TPI Polene posted a 21 per cent YoY growth in sales in the 2Q22 to THB12.5bn (US$346.2m) and 24 per cent growth in revenues to THB13.6bn, partly thanks to forex gains. Overall, the lower volume sales in some product categories were offset by price adjustments compensating for input costs that have been rising since late 2021. For the 1H22 sales reached THB25bn up 29 per cent YoY. The c...
Ethiopian investor plans US$1bn cement plant
Worku Ayetenew, a wealthy Ethiopian investor, wants to build a US$1bn cement plant. Mr Ayetenew is seeking a partner for the new cement factory, while he has already requested to lease 150ha of land for the construction of the plant, which is located around Dejene town, Amhara National Regional State, 230km away from the capital. Six companies have already been shortlisted by the company to p...
Iskitim buys analyser for grinding department
Russia-based Iskitimcement has purchased a RUB5m X-Supreme 8000 XRF bench top analyser for its grinding department laboratory. The analyser will be used to quickly and accurately determine the content of additives round-the-clock and adjust levels as necessary. The cement company’s central laboratory expects a KFK-3 photoelectric photometer to be used in the chemical analysis of cement and...
Adbri increases revenue by 8% in 1H22
Adbri ’s revenue increased to NZD812.4m (US$501.4m) in the 1H22, up eight per cent on 1H21 driven primarily by strong construction and mining sector demand and improved pricing across most products, said the company. Underlying net profit after tax decreased 1.3 per cent to NZD54.3m. Results were impacted by operational challenges associated with extreme wet weather events on the east coast ...
Cementos Yura sees advance in 2Q domestic and export sales
Cementos Yura, Peru, increased domestic cement dispatches by 12 per cent YoY in the 2Q22. In addition, export sales advanced by 22 per cent YoY in the 2Q22 on the back of higher exports to Chile. The company increased its clinker production in the 2Q22 by 35.8 per cent when compared to the year-ago period as cement demand increased and its inventory recovered.
UNACEM sees contracting 2Q profit margin
Peru-based UNACEM reported a consolidated net profit of PEN110.8m (US$26.7m), up 25.8 per cent YoY, as the company’s revenues increased and interest expenses fell. However, the cost of sales was higher than expected, impacting YoY profit margins. UNACEM’s consolidated revenues reached PEN1429.6m, up 19.8 per cent YoY as cement sales volumes increased in Peru (+13.8 per cent) and the USA (+15....