Cement News tagged: Corporate
Thatta Cement earns PKR300m in 1HFY19
Thatta Cement Co Ltd (TCCL) announced its financial results for the half year ended 31 December 2018 with consolidated earnings at PKR300m (US$2.1m), down by 6.54 per cent YoY, as compared to PKR321m reported in the same period last year. According to TCCL's notification to Pakistan Stock Exchange (PSX) on 6 February, company sales during the half year period increased by 34.54 per cent YoY ...
Anjani Portland records 22% rise in net sales
India’s Anjani Portland Cement Ltd has recorded a 22.2 per cent YoY rise in net sales to INR1.1bn (US$15.3m) for the third quarter of FY18-19, compared with INR902.7m of the year-ago period. However, net profit declined 27.5 per cent to INR23.7m from INR32.7m. In the nine months to 31 December 2018, the company saw a 15.5 per cent YoY increase in net sales to INR3.18bn from INR2.75bn. Net pro...
Hail Cement sees a 19% increase in revenue
Saudi Arabia’s Hail Cement made a net loss of SAR23.55m (US$6.27m) in 2018, compared with a SAR15.54m profit in 2017. However, revenue increased 19.1 per cent YoY to SAR195.98m. In the final quarter of 2018, the company recorded a 23.8 per cent YoY decline in profit to SAR8.83m from SAR11.59m.
Holcim Australia announces new CEO
Following the commencement of Nick Miller’s duties as CEO of Adelaide Brighton last week, the company has announced the departure of George Agriogiannis, executive general manager of concrete and aggregates. Mr Agriogiannis will become chief executive of Holcim Australia on 11 March. The current CEO of Holcim Australia, Mark Campbell, will leave the company at the end of March. "I wish to a...
JSW Cement announces Salboni expansion
India’s JSW Cement has announced plans to increase the capacity of its unit in Salboni, West Bengal, from 2.4Mta to 3.6Mta. Only commissioned in January 2018, the company has stated that the facility has already become an integral part of its growth in the eastern region of the country. "Over the last year we have catered to the requirements of all our customers in West Bengal, Jharkhand, ...
Eurocement’s Voronezh plant sees 5% rise in deliveries
Eurocement’s 3.075Mta cement works in Voronezh has increased its cement production by three per cent YoY to 1.87Mt in 2018, according to a company press release. Deliveries rose by five per cent YoY to 1.881Mt in 2018. The plant broke its monthly shipment record twice in the year: in June it shipped 202,000t of cement, followed by 206,000t of delivered product in August.
LafargeHolcim makes two ready-mix acquisitions
LafargeHolcim has announced the acquisition of US-based Transit Mix Concrete Co on 1 February 2019. As part of the transaction, the company will take ownership of seven ready-mix concrete plants and a sand quarry. Furthermore, in January 2019, LafargeHolcim acquired the precast and ready-mix businesses of Alfons Greten Betonwerk in northern Germany. As a result, the company added one precast ...
Pakistan's cement shares become attractive on the PSX
The shares of top Pakistan's cement producers at Pakistan Stock Exchange (PSX) become attractive for international and local buyers on 5 February on anticipation of good results ahead. The benchmark KSE100 Index started the week on a buoyant note, settling marginally above the key barrier of 41,600. The gains were mainly led by aggressive buying in cements with DG Khan Cement Ltd DGKC PA up...
Star Cement net profit falls 5% in 3QFY18-19
Star Cement reported a stand-alone net profit of INR561.4m (US$7.7m) for the quarter ended 31 December 2018, a fall of 5.4 per cent when compared with INR593.6m reported in the year-ago period. Net revenue increased by 17.2 per cent YoY to INR4.018bn in October-December 2018 from INR3.427bn in 3QFY18-19. Operating expenses advanced 23.1 per cent to INR3.207bn YoY while other income rose by...
Olesegun Olusanya resigns from Dangote Cement board
Olusegun Olusanya has resigned form Dangote Cement Plc's Board of Directors. The cement maker disclosed on Monday Mr Olusanya informed the board that he would pursue other opportunities. No reason was given in a statement issued by the leading cement manufacturer for the decision of Mr Olusanya. "This follows his decision to voluntarily resign," the statement signed by the company secretary, ...
JK Cement reports a 16.5% fall in net profit
India’s JK Cement has reported a 16.5 per cent fall in standalone net profit to INR609.1m (US$8.49m) in the third quarter of FY18-19, compared with INR729.3m of the year-ago period. However, net sales were up 13.1 per cent to INR12.73bn from INR11.26bn. EBITDA also increased 13.9 per cent to INR2.22bn in the 3QFY18-19, compared to INR1.95bn of the previous year.
CNBM and Fives seal collaboration agreement
CNBM and Fives have defined an agreement for areas of collaboration to benefit from either company's expertise or technologies. The parties will together explore a range of international projects, including plant upgrades and expansions as well as new plants, to implement Fives technologies, such as the FCB Horomill ® grinding system, FCB Pyro-line and Pillard burners, to reach the highest le...
Pakistan cement firms' profitability remain vulnerable in 1H19
Both Attock Cement and Lucky Cement recorded a fall in profit in their half-yearly results. According to Intermarket Securities Ltd, during 1H19 it is expected that the top cement firms will post a combined profit of PKR6.3bn (US$45.2m) during this period, down by 25 per cent YoY. An analyst said that the hefty PKR depreciation (by 21 per cent YoY), higher coal prices (up 11 per cent YoY) an...
FLSmidth records higher order intake in 2018
FLSmidth released its 2018 annual report which records strong order intake, revenue growth and steps taken to improve profitability in cement. Order intake grew to DKK21.741bn (US$3.33bn) in 2018 from DKK19.170bn in 2017, but was down seven per cent in 4Q18 to DKK4503m from DKK4836m in 4Q17. "The high order intake in 2018 is due to an improving mining market, but it also reflects the performa...
Lucky Cement records net profits of PKR5.8bn for 2H18
Lucky Cement Ltd reported net profit after tax of PKR5.80bn (US$41.47m) after taking out PKR0.34bn attributable to non-controlling interests for the half year ended 31 December 2018. The company achieved a gross turnover of PKR67.85bn which is 13.5 per cent higher when compared to the same period last year's turnover of PKR59.77bn. Overall sales volumes grew by 6.8 per cent to reach 4.01Mt d...
Asia Cement records 83% revenue surge in 2018
South Korea’s Asia Cement has announced a 82.8 per cent YoY increase in revenue in its preliminary unaudited results for the 2018 period, rising to KRW843.3bn (US$754.1m) from KRW461.2bn. Operating profit surged 49 per cent to KRW79.3bn from KRW53.2bn. However, 2018 net profit dropped 67.8 per cent to KRW17.84bn, compared with KRW55.38bn of the year-ago period.