Cement News tagged: Corporate
Dandot Cement declares loss of PKR177.51m in 1HFY18-19
Dandot Cement Company Ltd (DCCL) has announced its financial results for the half-year ended 31 December 2018. It declared a loss of PKR177.51m (US$1.27m), as compared to loss of PKR320.95m reported in the equivalent period last year. DCCL Company Secretary, Muhammad Kamran, informed the Pakistan Stock Exchange (PSX) that net sales during the 1HFY18-19 slightly increased to PKR741.30m from P...
Argentine hyperinflation costs Cementos Molins EUR11m
Spain-based cement producer Cementos Molins saw a negative effect of EUR11m (US$12.5m) in its business results in 2018 due to the hyperinflation and the devaluation of Argentina, according to Spanish economic and business newspaper Expansión. Its profit fell by four per cent to EUR85m in 2018. The reduction of the Argentine’s subsidiary cash also affected the company’s debt levels, which inc...
CRH sees 31% hike in group net profit in 2018
CRH reported a six per cent increase in sales revenues to EUR26.79bn in 2018 from EUR25.22bn in 2017. The company’s EBITDA advanced seven per cent to EUR3.365bn in 2018 when compared with EUR3.146bn the previous year. Group net profit jumped 31 per cent to EUR2.521bn from EUR1.919bn in the year-ago period. The company attributes the robust results to strong financial discipline with EUR2.4bn...
Dangote Cement reports rise in group revenue for 2018
Nigeria’s Dangote Cement announced a 11.9 per cent YoY rise in group revenue to NGN901.2bn (US$2.48bn) from NGN805.6bn for the full-year 2018 period. The results were driven by a 11.4 per cent increase in Nigerian cement sales to 14.178Mt and a 9.5 per cent higher revenue per tonne for pan-African operations. Group EBITDA advanced 12.1 per cent to NGN435.26bn, compared with NGN388.14 of 2017...
Chip Mong Insee Cement achieves 26% market share in Cambodia in first year
After just one year of operations, Chip Mong Insee Cement Corporation (CMIC) has achieved a 26 per cent of market share in Cambodia, company representatives said. Speaking at the company's one-year anniversary celebration, Aidan Lynam, CEO of CMIC, said the secret to its success is the focus on quality. "It is estimated that 8Mt of cement are consumed every year [in Cambodia]. After a full y...
Sabanci Holding to invest TRY6bn in 2019
Sabanci Holding, one of Turkey's largest conglomerates, has said it is planning a total of TRY6bn (US$1.13bn) of investments this year. "This figure excludes any acquisitions or mergers that may emerge within the year based on strategic developments," Sabanci said in a filing with Borsa Istanbul. "Rebalancing in the Turkish economy has begun. We are expecting long-term reforms after the [Mar...
Pioneer Cement and DG Khan Cement report profit falls in 1HFY19
Two more leading cement companies of Pakistan announced their financial results for 1HFY19 (July-December 2018) to the Pakistan Stock Exchange (PSX). DG Khan Cement Co Ltd (DGKC) and Pioneer Cement Ltd (PCL) reported falls in profit despite increased cement sales due to the negative impact of the devaluation of the Pakistani rupee, amid higher coal prices and other factors during this period. ...
GCC looking for additional US assets
Grupo Cementos de Chihuahua (GCC) is exploring options for mergers and acquisitions in different markets, particularly the USA, according to CE Noticias Financieras. "In terms of growth in the US we are actively seeking expansions, mergers and acquisitions and that does not necessarily exclude completely that we could not expand through special capex," said GCC Director Enrique Escalante. I...
Bafuloto plant to open in 2020
Construction work has started on Jah Multi Industrial Company Ltd's cement plant in Bafuloto, in the West Coast region of Gambia. Sheriff Faye, operational manager of Jah Multi Industrial Co (JMIC), said the plant will not be commissioned until 2020, but the company would be supplying the local market with cement before then. Two vessels of cement will dock at the port every 10 days, he cla...
Caribbean Cement records JMD2.5bn profit
Jamaica's Caribbean Cement Co set a record profit of JMD2.47bn (US$18.89m) in its last financial year. Sales by the cement producer rose six per cent to JMD17.5bn, while its net profit more than doubled from JMD1.1bn to JMD2.47bn. The results follow the restructuring of inventory and manpower and other efficiency measures, as well as investments in the plant at Rockfort, Kingston, reports The...
Cruz Azul commences construction of new Hidalgo line
Mexico's Cruz Azul has begun construction of its No 10 production line at the Hidalgo cement plant. thyssenkrupp Industrial Solutions, Fives and Loesche GmbH are the suppliers of equipment and engineering development for this project, which will be completed in 22 months. "Cooperativa La Cruz Azul has taken the initiative to modernise its cement production plants to optimise production proces...
Gharibwal Cement profit shrinks by 21% in 1HFY19
Gharibwal Cement Ltd (GCL) declared a net profit of PKR593m (US$4.28m) for the half year ended 31 December 2018, down by 21.2 per cent YoY, as compared to PKR752m earned in the same period last year. GCL informed the Pakistan Stock Exchange (PSX) that net sales of GCL during 1HFY18-19 slightly increased to PKR5.505bn from PKR 5.478bn during this period. The company's administrative expenses...
Launch of UK’s largest provider of industrial heat exchanger solutions
The UK's largest provider of design, manufacture and support services for heat exchanger and boiler equipment for the cement industry has been created through a new partnership between Wakefield-based Green's and Yorkshire's Thornhill. With multiple UK sites offering in-house design, fabrication, testing, repair and refurbishment complemented by on-site inspections, repairs and installation,...
Dewan Cement profit contracts by 40.29% in 1HFY19
Dewan Cement Ltd (DCL) has announced its financial results for the half year ended 31 December 2018. It declared net profits of PKR328m (US$2.74m), representing a decrease of 40.29 per cent YoY, as compared to PKR550m earned in the same period last year. Imran Ahmad Jawed, CFO of DCL, informed the Pakistan Stock Exchange (PSX) that the company's net sales edged up to PKR6.466bn from PKR6.45...
Umm Al-Qura Cement sees 15% drop in 2018 revenues
Umm Al-Qura Cement Co reported a fall in sales of -14.9 per cent to SAR164.4m (US$43.8m) in 2018 when compared to sales of SAR193.2m in 2017. Total profit decreased by 32.3 per cent from SAR71.9m in 2017 to SAR49.6m in 2018 while net profit after zakat and tax declined 84.6 per cent to SAR10m in 2018 when compared with SAR65.6m in the year-ago period.
Bolivia’s Lower House approves Ecebol land
The Lower House of the Bolivian Parliament has approved a bill to provide 39.8ha of land to state-run Ecebol for a future cement plant in Potosi. The site is located in Chiutara and was formerly owned by Potosi council. The contract for the 1.3Mta production facility was signed in March 2018. The project represents an investment of US$241.1m.