Cement News tagged under: corporate
Start of Buzzi SpA share buyback programme10 May 2024, Published under Cement NewsBuzzi SpA has announced the start of a share buyback programme pursuant to the authorisation passed at the 9 May shareholders’ meeting. Under such programme the company may repurchase up to a number of shares which, taking into consideration the ones held from time-to-time in treasury by the company and its subsidiaries, does not overall exceed the maximum amount of EUR200m. The share buyback is aimed at giving the company an instrument for liquidity investment, as well as a so-called “se... |
Chia Hsin Cement reports TWD38.7m 1Q net loss10 May 2024, Published under Cement NewsTaiwan-based Chia Hsin Cement has posted a net loss of TWD38.698m (US$1.19m) in the first quarter of 2024 from a net profit of TWD19.993m in the 1Q23. Over the same period, the company's pretax profit swung from TWD25.471m to a pretax loss of TWD29.843m. However, revenues had edged up from TWD651.402m in the 1Q23 to TWD699.142m in the 1Q24. |
Cherat Cement exhibits mixed financial results in 3QFY23-24 and in 9MFY2409 May 2024, Published under Cement NewsCherat Cement (CHCC) reported net profit after tax (NPAT) of PKR1.2bn (US$4.32m) in 3QFY23-24, down 33 per cent QoQ and flat sequentially. This brings the 9MFY23-24 NPAT to PKR4.6bn, up 12 per cent YoY. Earnings per share reached PKR6.40 in the 3QFY23-24 and PKR23.90 in hte 9MFY23-24. In quantitative terms, the company's total sales volume dropped by 11 per cent (1.974Mt), with domestic sales declining by 14 per cent and exports rising by 18 per cent from last year. Operating pe... |
Sangwon Cement boosts production09 May 2024, Published under Cement NewsThe Sangwon Cement plant in North Korea has successfully completed the cement production task for the construction of regional-industry factories this year. The plant has steadily increased its production. Higher production results are attributable to the efforts of operators of the central control room, who have scientifically analysed the condition of equipment and applied rational operation method accordingly. Officials and workers of the Sangwon Limestone Mine, the Samchong Mine and... |
Ecocem appoints new UK and Ireland MD09 May 2024, Published under Cement NewsSally Anne Sherry is appointed Ecocem's new managing director for UK and Ireland business Ecocem has appointed Sally Anne Sherry as managing director for its UK and Ireland business operations. In this position, she will play a pivotal role in driving Ecocem’s growth and sustainability initiatives, and market presence in the UK and Ireland. Ms Sherry brings almost two decades of experience in the property industry and expertise from several positions as a non-executive d... |
Eastern Province Cement sees revenue jump 28% YoY08 May 2024, Published under Cement NewsEastern Province Cement Co has posted net income of SAR68m (US$18.13m) in the opening quarter of 2024, up 21.4 per cent YoY. Cement sales over the three-month period came in at 630,000t, on a par with the same period a year earlier but up seven per cent on the 4Q23. Selling prices averaged above SAR300(US$80)/t for the second consecutive quarter, reports Aljazira Capital. Revenue for the quarter stood at SAR302m, marking a 27.6 per cent expansion on the 1Q23, driven by improved revenue... |
CRH continues to invest in Ukraine08 May 2024, Published under Cement NewsCRH has invested a total of US$80m in Ukraine since the start of the Russia-Ukraine conflict, according to Guillaume Cavalier, president of CRH in Central and Eastern Europe. This brings the company’s investment in Ukraine over its 25-year history in the country to over US$500m, reports bne IntelliNews. “Investing in the expansion of production now is crucial to ensure the potential growth of the Ukrainian cement market following its integration into the EU,” Cavalier remarked, highli... |
Vulcan Materials posts fall in revenues in 1Q2408 May 2024, Published under Cement NewsUS-based Vulcan Materials has reported total revenue of US$1546m in the first quarter of 2024, down from US$1649m in the same period a year earlier. Gross profit in the 1Q came in at US$305m (1Q23: US$302m) while adjusted EBITDA stood at US$323m (1Q23: US$338m). Commenting on the results, Tom Hill, Vulcan Materials' chairman and CEO, said, "Our teams' solid execution helped us overcome challenging weather conditions throughout much of the first quarter. Margins expanded despite lowe... |
AfriSam enhances road durability with Roadstab cement08 May 2024, Published under Cement NewsAfriSam 's Roadstab cement is a specialised, high quality composite cement engineered specifically for road stabilisation tasks. The product is designed to optimise the properties of soils used in road construction, notably by reducing their plasticity and enhancing their strength and stability. The formulation of AfriSam Roadstab Cement aims to address the vital requirements of road construction projects by ensuring the durability and stability of road bases. The unique composition contri... |
Fauji Cement strives to improve fundamentals and strengthen its investment case08 May 2024, Published under Cement NewsBMA Capital Management Ltd believes Fauji Cement Co Ltd (FCCL) will reap the benefits of an uptick in local cement demand by FY25, as well as strengthening market share and efficiency gains through new lines and the incorporation of green technology. In addition the company could benefit from an efficient fuel and power mix to enhance margins, strong pricing power to support profitability in a low-demand environment, and an anticipated reduction in interest rates to reduce debt servicing... |