Cement News tagged: Corporate
Sri Lanka’s Tokyo Cement reports increased loss
Tokyo Cement Plc reported losses of LKR605m (US$3.78m) in the June 2018 quarter as revenues fell and the sale of a vessel added LKR380m to the losses already sustained. In the June 2018, revenues declined four per cent to LKR7.76bn while costs rose by four per cent to LKR6.2bn. Finance expenses increased 170 per cent to LKR380m. Gross profits fell 27 per cent YoY to LKR1.507bn. The company ...
Shree Cement gets Raipur coal linkage
India’s Shree Cement was awarded the coal linkage for its Raipur plant in Chhattisgarh. The contract for Grade 7 coal was awarded to the cement producer following a e-auction. The company paid a winning premium of INR130/t (US$18.76/t), 5.63 per cent of the notified price.
Loma Negra reports 2Q18 net revenues up 37%
Loma Negra reports its 2Q18 net revenue increased 37.2 per cent to ARS4.757bn (US$169.4m) in 2Q18, from ARS3.467bn in the comparable quarter last year. Cement, masonry and lime revenues in Argentina were up 33.4 per cent YoY, to ARS3.503bn despite volumes remaining almost flat. Cement revenues in Paraguay increased 49.2 per cent, reaching ARS369m in the quarter as the 2.4 per cent YoY declin...
Riddhi Siddhi's Nepal plant nears completion
Nepal’s Riddhi Siddhi Cement is planning to start commercial production at one of the country’s largest plants in Makawanpur within two months, as 80 per cent of the construction is now complete. "We are about to complete the construction work," said Rajesh Kharel, director of the company. "We have deployed around 1000 workers round the clock at the factory site to complete the construction...
Eagle Cement Corp grows net profits by 5%
Philippine-based Eagle Cement Corp grew its net profit by five per cent YoY to PHP2.3bn (US$43.3m) in the 1H18 with higher sales volume compensating for lower selling prices. The company's first-half net sales rose by some 10 per cent YoY to PHP8.21bn. Gross profit margin was maintained at 48 per cent. Cash flow as measured by earnings before interest, taxes, depreciation and amortisation (...
Cemex Latvia's turnover rises 35% with strong export sales
Cemex generated EUR78.067m turnover in Latvia in 2017, up 34.6 per cent against 2016, selling 970,000t of cement, while the copany's share of export sales grew to 70 per cent. Growth was recorded in all segments thanks to a robust growth of the Latvian construction sector in 2017. Growing exports to markets such Sweden and Finland as well as sales in Estonia, Lithuania and Belarus compensat...
Taiheiyo Cement records 32% net profit increase in 1QFY18-19
Taiheiyo Cement has announced a 5.9 per cent YoY increase in revenue to JPY211.34bn (US$1.9bn) in the first quarter of FY18-19 ended 30 June, compared with JPY199.61bn of the year-ago period. Operating profit advanced 10.3 per cent to JPY9.76bn from JPY8.85bn, while net profit surged 32.4 per cent to JPY6.13bn. The company also released forecasts for the 1HFY18-19 and financial year ending M...
Tabuk Cement turns to losses in 2Q18
Saudi Arabia’s Tabuk Cement Co has reported net losses of SAR36.08m (US$9.6m) in the 2Q18, against profits of SAR1.29m in the equivalent period of the previous year. For the first half of 2018, losses reached SAR47.3m, versus profits of SAR9.97m in the 1H17. The 2Q18 result has been attributed to low selling prices on the back of strong competition with an increase in sales volumes unab...
Venezuela’s San Sebastián works sees production plummet
Invecem’s San Sebastián de los Reyes cement plant in Aragua, Venezuela, has been out of action for three weeks as workers protested regarding wages and the lack of investment in the plant by the state. Output has fallen from 90,000 to 18,000t. "If we do not have investment, we will not have salary improvement. Most of the equipment and machinery that is damaged come from abroad and the spar...
Umm Al Qura Cement records 98% profit decline
Saudi Arabia-based Umm Al Qura Cement Co (UACC) has seen its profit drop 97.6 per cent YoY in the second quarter of 2018, falling to SAR199,600 (US$53,226) from SAR8.4m. The significant decline in profit has been attributed to a decrease in sales value, alongside higher marketing and selling expenses. In the half-year period (Jan-Jun 2018), the company saw profits down 59.3 per cent to SAR10...
Central African Cement Ltd established to build 5000tpd plant in Zambia
ZCCM-Investment Holdings has announced that it has signed a shareholders' agreement with China Machinery Construction Group Ltd, also known as SinoConst, for the development of a cement plant. The joint venture project, called Central African Cement Ltd (CAC), will see ZCCM-IH holding 35 per cent of the shares in CAC, while SinoConst will hold the remaining 65 per cent. The project have a ce...
FLSmidth reports 13% order increase in 2Q18
FLSmidth has released its interim 2Q18 report and reported a 13 per cent order increase to DKK5.056bn (US$787.86m) for the period, driven by over 100 per cent growth in the minerals division. Revenue in the second quarter advanced 3.2 per cent YoY to DKK4.73bn, compared with DKK4.585bn of 2Q17. "We saw the highest order intake in the Minerals division for several years, which shows that mine...
Vicat sees strong growth in net profit
Vicat's 1H18 turnover improved by 2.7 per cent to EUR1281m, or by 9.6 per cent on a comparative basis. EBITDA advanced by 4.5 per cent to EUR197m, or by 12.3 per cent on a comparative basis, and the margin improved from 15.1 to 15.4 per cent. The trading profit rose by 21.3 per cent to EUR104m, while the net interest charge was EUR1.8m lower at EUR11.1m, giving an attributable profit 47.2 per ...
Sumitomo Osaka Cement records 10% revenue increase in 1QFY18-19
Japan’s Sumitomo Osaka Cement Co recorded a 10 per cent YoY revenue increase in the first quarter of the FY18-19 period, rising to JPY60.19bn (US$540.56m) from JPY57.35bn. However, operating profit has declined 26.9 per cent YoY to JPY2.74bn, compared to JPY3.75bn of the year-ago period. The company’s net profit saw a similar fall of 21.7 per cent to JPY2.16bn.
Eastern Cement records 46% fall in 2Q18 profit
Saudi Arabia’s Eastern Province Cement Co has recorded a 45.7 per cent YoY decline in net profit for the 2Q18, falling to SAR19m (US$5.06m) from SAR35m. Sales dropped 4.4 per cent to SAR152m from SAR159m. In the 1H18 the company’s profit decreased 59.3 per cent to SAR35m, while sales dipped 19.9 per cent to SAR290m. Eastern Cement attributed the fall in 1H18 profit to a decline in the valu...
Eagle Materials sees record revenues
Eagle Materials Inc saw its 1QFY18-19 revenues hit record levels at US$393.8m, up eight per cent YoY. Net earnings rose 12 per cent from US$54.882m in 1QFY17-18 to US$66.339m in 1QFY18-19. The company saw its results mainly impacted by a US$6.5m pretax increase in maintenance expenses, primarily due to the timing of the annual maintenance outage at the Fairborn cement plant, but also by a US...