Cement News tagged under: Australia
Adelaide Brighton makes new appointment08 October 2019, Published under Cement NewsAustralia’s Adelaide Brighton Ltd has announced the appointment of Emma Stein as an independent non-executive director. Ms Stein has previously held several board and senior executive positions in the building materials, energy, mining and waste management sectors, according to a press release. "We welcome the wealth of experience Ms Stein brings to the Adelaide Brighton board and look forward to working with Emma," said Raymond Barro, chairman of the company. Elsewhere, Arlene Tansey wil... |
Adelaide Brighton achieves 1H19 revenue of AUD755.7m28 August 2019, Published under Cement NewsAdelaide Brighton recorded 1H19 revenue of AUD755.7m (US$506.1m), down 6.3 per cent on 1H18 due to a softening of residential and construction demand. EBIT stood at AUD85.2m, presenting a decrease of 31 per cent, driven by rising material input costs and competitive pressures. Australia's residential construction approvals fell 25.6 per cent in the six months to June 2019, while construction is projected to hit a low in 2021. Cement sales volumes fell by eight per cent with a decline in th... |
Boral reports net profit of AUD486m in FY1928 August 2019, Published under Cement NewsBoral reported net profit of AUD486m (US$325.7m) for the full year ended 30 June 2019, six per cent down on FY18. Sales revenue was steady at AUD5863m on FY18 and sales revenue for continuing operations of AUD5801m up four per cent. EBITDA reached AUD1037m compared to AUD1056m in FY18. "Boral’s full year results demonstrate the benefits of strong infrastructure activity in Australia and resilience of our underlying businesses, together with implementation of improvement initiatives and cos... |
Wagners' annual net profit drops by 49%19 August 2019, Published under Cement NewsWagners in Australia has seen its annual net profit drop by 48.5 per cent to US$12.8m. The construction group blames its dispute with Boral for the poor business results. The building materials group has reported a 32 per cent fall in earnings from its core construction, materials and services business to AUD30.1m (US$20.38m) after its decision to stop selling cement to Boral. About 40 per cent of Wagners' earnings were generated form its arrangement with Boral until Boral claimed it could ... |
Adelaide Brighton updates its forecast for 201931 July 2019, Published under Cement NewsAustralia’s Adelaide Brighton has issued a profit warning for the 2019 period, stating that its underlying profit is expected to fall around 37 per cent YoY to AUD120-130m (US$82.6-89.6m) from AUD190.1m. The company has cut its interim dividend, cancelled ingredient imports and booked an AUD100m impairment charge, resulting in its shares posting the steepest fall in 15 years, according to Reuters. The warning arrives as Australia’s construction sector continues to contract, with AIG Cons... |
Southern Cross Cement plans new terminal in Brisbane15 July 2019, Published under Cement NewsAustralia’s Southern Cross Cement, a joint venture between Brickworks, Neilsen Group and Neumann Group, has announced an AUD60m (US$42.19m) investment for a new cement terminal at the Port of Brisbane. The 200,000tpa terminal will receive imports from southeast Asia and have enough capacity to serve 10 per cent of the market in southeast Queensland. Jonathan Riemann, general manager of Southern Cross Cement, expects population growth in the region to drive demand for cement. "Some of ... |
thyssenkrup Industrial Solutions opens new service centre in Australia23 May 2019, Published under Cement Newsthyssenkrupp Industrial Solutions has opened a new service centre in Brisbane, Australia, on 14 May 2019. The new facility is ideally located to support thyssenkrupp’s customer base on Australia's east coast as well as clients in Oceania that use major logistics channels through Brisbane. “As we want to offer the best possible services to our customers, we are continuously expanding our service offerings in the regions. Through our investment in Brisbane, we make sure that also our custom... |
Adelaide Brighton issues profit warning for 201910 May 2019, Published under Cement NewsAustralia's Adelaide Brighton has warned that profits for 2019 could be 10-15 per cent lower than the AUD190.1m (US$133m) recorded in 2018, due to weaker demand in residential construction and high competition from imports. The company attributed the profit warning to "further softening of demand for construction materials in the residential market, increased competition from cement imports, increased competitive pressures in Queensland and higher costs of key raw materials compared to the... |
Wagners suspends cement supply to Boral19 March 2019, Published under Cement NewsWagners Holding Co Ltd has suspended the supply of cement to Boral Ltd for six months after Boral had issued a third-party pricing notice to Wagners under their cement supply agreement. Boral has seen that it can obtain cement supplies cheaper than the price Wagners is offering. Boral's market price is in the form of an unsigned offer and Wagner's believe it may not be genuine. Wagners has commenced a formal process to disrupt the validity of the action, says Proactive Investors. Wagners... |
Adelaide Brighton posts 1% fall in net profit in 201801 March 2019, Published under Cement NewsAustralian cement producer Adelaide Brighton posted a 1.4 per cent decline in net profit to AUD185.3m (US$131.5m) in 2018 as cement margins declined and slower growth in South Australia and Western Australia offset strong demand in New South Wales and Victoria. “East coast construction markets were strong in 2018, South Australia and the Northern Territory were flat and Western Australia was down, while lime demand from the resources sector was stable,” Adelaide Brighton’s CEO, Nick Miller... |