Cement News tagged: Corporate
UltraTech Cement records revenue increase in 4QFY18
India’s UltraTech Cement has reported a 29 per cent YoY fall in its standalone profit for the 4QFY18 period, to INR4.88bn (US$73.05m) from INR6.88bn. The decline has been partly attributed to a stamp duty of INR2.26bn and deferred tax of INR410m due to a change in tax rates. Standalone revenue rose 36.5 per cent to INR90.02bn for the period, according to Money Control. EBITDA grew 33.2 per ...
CRH 1Q18 underlying sales slip 2%
A GBP16.5m (EUR19m) deal was concluded with CRH in the early part of 2018, whereby Breedon acquired four quarries and an asphalt plant in Britain in exchange for 27 ready-mixed batching plants and GBP4.9m (EUR5.6m) in cash. CRH's underlying sales in the 1Q18 declined by around two per cent, with European turnover also being off by two per cent. The Americas turnover slipped three per cent w...
Cherat Cement reports 15% net profit increase
Pakistan’s Cherat Cement Co Ltd has announced its 9MFY18 results, reporting a 14.6 per cent YoY increase in net profit to PKR1.79bn (US$15.49m). Net sales increased 66 per cent to PKR11.14bn, compared with PKR6.71 of the year-ago period. However, the company’s distribution cost increased by 18.6 per cent to PKR248m, according to its statement to the Pakistan Stock Exchange. The company ...
Maple Leaf announces 6% increase in net sales
Pakistan’s leading cement manufacturer, Maple Leaf Cement Factory, has announced its 9MFY18 results. The company’s net profit fell 14.7 per cent YoY, to PKR3.37bn (US$29.13m) from PKR3.95bn. Net sales increased 5.9 per cent to PKR19.3bn during the period, mainly due to 20.2 per cent quantitative growth in local sales. Local dispatches rose 20.1 per cent to 2.642Mt (9MFY17: 2.199Mt), while e...
Breedon to find remedies with CMA to conclude Tarmac quarry deals
Breedon Group Plc's proposed phase 1 acquisition of certain assets from Tarmac, in exchange for a number of ready-mixed concrete plants and a cash payment, as announced on 13 December 2017 has been reviewed by the Competition and Markets Authority (CMA). The CMA has cleared Breedon's acquisition of four quarries from Tarmac but has concluded that there is a realistic prospect of a substanti...
GCC quintuples consolidated net income in 1Q18
Grupo Cementos Chihuahua (GCC) reported a 13.6 per cent YoY rise in net sales to US$188.7m in 1Q18. The Mexico-based cement producer saw its EBITDA rise by 40.6 per cent to US$45.9m during the first quarter and improved its EBITDA margin from 19.6 per cent in 1Q17 to 24.3 per cent in 1Q18. Consolidated net income more than quintupled YoY to US$11.3m from US$1.7m in 1Q17. An 18 per cent rise in...
Dangote Cement Group's revenue up 16% in 1Q18
Dangote Cement group released its 1Q18 results and reported revenue up 16.3 per cent to NGN242.1bn (US$672m). This gives Dangote a market share of approximately 66 per cent. Group EBITDA rose by 22.2 per cent to NGN 125.9bn, while Pan-African EBITDA increased by 77.3 per cent to NGN13.1bn. In the domestic market of Nigeria, Dangote sold 3.7Mt of cement in the 1Q18, up 5.3 per cent on 1Q17 af...
Shree Digvijay Cement posts 63% rise in sales
India-based Shree Digvijay Cement has announced a 63.1 per cent YoY rise in sales in the fourth quarter, ended March 2018. EBITDA increased 41.5 per cent to INR189m (US$2.83m), while EBITDA margin fell 2.3 per cent. Total income surged 255.6 per cent to INR92m, compared to INR36m of the December 2017 quarter. While it has been posting positive results recently, the company had accumulat...
Cementos Pacasmayo announces 13% revenue increase in 1Q18
Cementos Pacasmayo SAA has announced a 12.8 per cent YoY increase in revenue in the first quarter of the year, rising to PEN315.3m (US$97.58m) from PEN279.5m. The positive result has been partially attributed to a 7.8 per cent increase in sales volume of cement, concrete and blocks. The company also recorded a 37.3 per cent surge in net income to PEN29.8m. Cement EBITDA advanced 13 per cent t...
McInnis Cement can transport more cement by rail
The number of rail wagons transported by McInnis Cement across the Cascapedia bridges in Richmond may be increased, according to Radio Gaspésie. A recent review of the ultrasonic structure has shown that the bearing capacity of the bridges is higher than was estimated. The Canadian Department of Transport will allow McInnis Cement to increase the number of wagons that can cross from 10 to 2...
Grinding plant and quay berths acquired by CK Infrastructure Holdings
Cheung Kong Infrastructure Holdings has acquired a cement grinding station and three quay berths in Yun Fu city in Guangdong province, China, at CNY180m (US$28.5m). The agreement was made for the purchase with Chuang Dong Chemical Ltd. The facility covers an area of 68,000m 2 and it has cement grinding capacity of 1Mta. The three berths handle an average 3Mta, CKI said. CKI;s subsidiary Gree...
Breedon appoint deputy chairman
Breedon Group plc, the UK's largest independent construction materials group, has appointed Amit Bhatia as non-executive deputy chairman, with immediate effect. Amit joined Breedon’s Board as a non-executive director in August 2016, following the group's acquisition of Hope Construction Materials Ltd. Amitis a Director of Abicad Holding Ltd, a shareholder in Breedon, and Vice Chairman of Qu...
Carthage Cement records 25% revenue increase
Tunisia’s Carthage Cement Co has posted a 25 per cent YoY increase in revenue for the 1Q18, according to the African Manager. This result was achieved despite a halt in production from 15 March for a month, due to a dispute between the subcontracting company (NLS) and a group of workers. Elsewhere, the company's clinker production increased 126 per cent YoY during the period. This has been ...
Gharibwal Cement's profit falls in 9MFY18
Pakistan's Gharibwal Cement reported a net profit fall in 9MFY18 ended March 2018 to PKR1bn (US$8.6bn) from PKR1.70bn, (US$9.22m) earned in the same period of last financial year. Net sales increased to PKR8.51bn from PKR8.37bn during this period. GCL incurred a distribution cost of PKR17.5m against PKR20m in year ago period. The administrative expenses stood at PKR276m compared to PKR243m i...
ArcelorMittal increases Ecocem stake
Steelmaker ArcelorMittal has increased its shareholding in Ecocem France. By the end of May, ArcelorMittal will hold a 49 per cent stake in the cement company, compared to 30 per cent to date. The joint venture Ecocem France was created in 2007 by ArcelorMittal and the Irish group Ecocem Materials to develop the production of granulated blast furnace slag (GGBS), a by-product of steel manufa...
Holcim Philippines appoints John Stull as CEO
Holcim Philippines has appointed John Stull, the former chief of LafargeHolcim’s US cement operations, as its new president and CEO with immediate effect. Mr Stull will be replacing Sapna Sood, who recently resigned from her role, according to the company. "I am delighted to join Holcim Philippines at this exciting but challenging time. As the market adapts and becomes faster paced, the com...