Cement News tagged under: corporate
Gunmen abduct Dangote workers at Okpella15 May 2024, Published under Cement NewsGunmen stormed Dangote Cement ’s Okpella plant in Edo State, Nigeria, on 14 May, abducting dozens of plant workers, according to Business Day. Eye witnesses say the gunmen opened fire on a convoy of plant workers. The number of workers injured is currently unknown. The attack has been confirmed by Michael Odofin, a spokesperson for Okpella Cement Plc. “I cannot give any details right now but our workers were attacked. The attack is still fresh. We have no one killed,” said Mr Odofin. |
Saudi Cement posts SAR113.8m net profit in 1Q2414 May 2024, Published under Cement NewsSaudi Cement Co reported a net profit of SAR113.8m (US$30.3m) in the 1Q24, representing a 8.1 per cent drop YoY from SAR123.8m but a QoQ increase of 9.6 per cent from SAR103.80m in the 4Q23. Revenue improved 4.1 per cent YoY to SAR426.5m in the 1Q24 from SAR409.6m in the 1Q23. Compared with the 4Q23, sales were up 12 per cent YoY. Earnings per share slipped to SAR0.74 at the end of March 2024 from SAR0.81 in the same period last year. |
Southeast Cement Corp’s disappointing 1Q24 results13 May 2024, Published under Cement NewsTaiwan-based cement producer, Southeast Cement Corp Ltd, has reported its 1Q financial results for the period ending 31 March. The company saw a 9.3 per cent YoY increase in revenue, from TWD528.05m (US$16.29m) in 1Q23 to TWD576.89 in 1Q24. Pretax profit also rose by an impressive 178 per cent during this period, from TWD19.51m to TWD54.24m. Despite these positive trends in revenue and pretax profit, the company’s net profit fell 16.2 per cent from TWD34.09m to TWD28.58m. Furthermore,... |
Yanbu Cement posts 14% increase in net profit13 May 2024, Published under Cement NewsYanbu Cement Co reported a 14.3 per cent YoY increase in net profit to SAR58.31m (US$15.5m) in the 1Q24 from SAR51.01m in the 1Q23. The company attributed the rise in profit to an increase in both volume and value of sales in addition to other revenues, according to a bourse filing. Sales edged up by 4.5 per cent YoY to SAR234.17m in the 1Q24 from SAR224.01m. Earnings per share increased to SAR0.37 as of 31 March 2024 from SAR0.32m in the year-ago period. |
JK Cement sees revenue rise in March quarter13 May 2024, Published under Cement NewsIndia-based JK Cement has reported total income of INR29,820.3m (US$357m) in the quarter ended 31 March 2024, compared to INR27,006.7m in the same quarter a year earlier. Profit after tax over the same period advanced from INR1393.6m to INR2359.5m, while basic earnings per share improved from INR18.04 to INR30.54. Total expenses increased from INR25,102.8m in the three months ended 31 March 2023 to INR26,332.5m in the same period a year later, mainly driven by higher purchases of stock ... |
Titan America to be listed in US equity market13 May 2024, Published under Cement NewsTitan Cement International has announced its intention to proceed with the IPO of its US business ( Titan America ), with the aim of raising funds that will facilitate the group’s and Titan America’s future growth. Titan America, a US$1.6bn sales business, is a leading and fully integrated player in the high-growth economic regions of the US East Coast, with operations and leading market positions across Florida, the Mid-Atlantic, and Metro New York/New Jersey. According to the company... |
InterCement reaches debenture holder agreement13 May 2024, Published under Cement NewsInterCement Participaçoes SA has reached an agreement with its debentures holders to defer payments due under the series of Brazilian law-governed debentures issued by the company and issued by InterCement Brasil (ICB), which allow the company and ICB to preserve liquidity while negotiating a comprehensive finance plan. |
Cementir's 1Q24 regional market update13 May 2024, Published under Cement NewsCementir's results for the 1Q24 were overall in line with management's expectations despite the decline in revenues and EBITDA compared to the first quarter of the previous year. The company reported regional growth in Turkish cement sales and Belgian ready-mix sales. Turkey Cement sales volumes increased by 22 per cent compared to the 1Q23 in the domestic market, where the most significant growth was recorded in the Elazig and Kars regions of Eastern Anatolia, supported by post-earthq... |
Cementir posts higher sales in 1Q2410 May 2024, Published under Cement NewsCementir cement and clinker sales volumes equal to 2.4Mt increased by 2.3 per cent in the 1Q24 compared to the same period of 2023 thanks to the increase recorded in Turkey, which offset the decline in volumes in other geographical areas. Francesco Caltagirone Jr, Cementir chairman and CEO, commented: “Results for the first quarter of 2024 were in line with our expectations, with sales volumes up but revenues and EBITDA down, compared to the first quarter of 2023. The excellent performa... |
CRH announces new share buyback10 May 2024, Published under Cement NewsCRH plc has completed the latest phase of its share buyback programme, returning a further US$0.3bn of cash to shareholders. Between 29 February 2024 and 9 May 2024, 3.7m ordinary shares listed on the New York Stock Exchange were repurchased. This brings the total cash returned to shareholders under the ongoing share buyback programme to US$7.6bn since it began in May 2018. CRH has also announced that it has entered into an arrangement with HSBC Securities (USA) Inc to repurchase ordin... |