Cement News tagged under: Results
SMC posts 141% YoY rise in income15 November 2023, Published under Cement NewsPhilippines-based San Miguel Corp (SMC), which owns Eagle Cement Corp , Northern Cement Corp and Southern Concrete Industries , has recorded net income of PHP31.2bn (US$556.7m) in the first nine months of 2023, up 141 per cent from the PHP12.9bn seen in the same period a year earlier. Consolidated revenue over the same timeframe declined five per cent to PHP1.1trn, reports Manila Bulletin, while consolidated operating income expanded 29 per cent YoY to PHP110.2bn, aided by a stronge... |
Holcim Philippines posts 4% decline in net sales in 9M2314 November 2023, Published under Cement NewsHolcim Philippines has posted a 105 per cent YoY rise in net income to PHP999.4m (US$17.82m) in the first nine months of 2023, compared to PHP487.9m in the same period a year earlier. However, over the same timeframe net sales declined four per cent to PHP18.4bn from PHP19.1bn in the 9M22, reports Manila Bulletin. The fall is being attributed to poor cement demand as a result of subdued construction activity and unfavourable weather conditions. Operating EBITDA fell five per cent YoY from ... |
Zimbabwe drives PPC's positive outlook14 November 2023, Published under Cement NewsSouth Africa’s PPC has said it expects positive earnings for the six months ended 30 September, 2023. According to news service Pindula, the company has forecast a growth rate of 25.5-26.5 per cent in its headline earnings per share, compared to a headline loss of ZAR0.06 (US$0.003) during the same period last year. Its earnings per share are also predicted to advance by 21-25 per cent from a loss of ZAR0.30 per share in the same period a year earlier. The positive outlook has been attr... |
Sephaku Holdings' profit eroded by rising costs14 November 2023, Published under Cement NewsSephaku Holdings (Sephold) reported revenue of ZAR626.6m (US$33.44m) in the six months ended 30 September 2023, marking a 19.7 per cent YoY improvement. However, net profit after tax over the same period declined from ZAR26.7m to ZAR19.7, while headline earnings per share fell from 11.26 cents to 7.54 cents, reports IOL. According to the company, although activity in the construction industry improved, particularly in the civil construction and non-residential sectors, the rising cost... |
Birla Corp reports 14% revenue growth in 2QFY2413 November 2023, Published under Cement NewsBirla Corp has reported revenue of INR22,858.3m (US$274.5m) in the 2QFY24 ended 30 September 2023. This marks a 14.3 per cent YoY increase. Net profit in the 2QFY24 came in at INR583.7m, compared to a loss of INR564.6m in the same period a year earlier. The rise in profit has been attributed to a number of factors, including cost initiatives and optimisation of the power and fuel mix, according to the company. Cement sales over the same three-month period advanced by 14.8 per cent YoY to 4... |
Ramco Cements reports YoY profit advance13 November 2023, Published under Cement NewsThe Ramco Cements Ltd recorded total income of INR23,427.9m (US$281.3m) in the quarter ended 30 September 2023. This compares to INR22,489.m in the previous quarter and INR17,932m in the same period a year earlier. Net profit after tax has advanced from INR114.7m in the quarter ended 30 September 2022 to INR1013m in the corresponding period in 2023, while earnings per share improved from INR0.48 to INR4.28 over the same timeframe. Total expenses also increased, up from INR17,771.8m in t... |
Anjani Portland Cement reports revenue fall YoY13 November 2023, Published under Cement NewsAnjani Portland Cement Ltd , a subsidiary of Chettinad Cement Corp Pvt Ltd , has reported total income of INR1011.5m (US$12.14m) in the quarter ended 30 September 2023. This compares to INR1109.5m in the previous quarter and INR1069.7m in the same quarter in the previous year. The company has posted a loss of -INR64.2m in the September 2023 quarter, up from the loss of -INR106.6m in the quarter ended 30 September 2022. Total expenses over the same period fell from INR1081.6m to INR1180.... |
Orient Cement sees revenue expand 17% YoY13 November 2023, Published under Cement NewsOrient Cement, part of the CK Birla Group , has reported total income of INR7222.4m (US$86.6m) in the 2QFY24, ended 30 September 2023. This marks a 16.5 per cent increase on the same period a year earlier. Net profit in the September 2023 quarter came in at INR246.2m, compared to a net loss of INR94.9m in the 2QFY23. The quarter also saw the company approve a reduction in the solar power plant capacity for its Jalgaon plant from 5.5MWdc to 3.7MWdc to help maximise return on investme... |
Votorantim Cimentos posts 36% profit growth in 3Q2310 November 2023, Published under Cement NewsVotorantim Cimentos has posted revenue of BRL7.4bn (US$1.51bn) in the third quarter of 2023, down three per cent compared to the same period a year earlier. The decline has been attributed to “market dynamics and the negative impact of the appreciation of the Real.” Net profit over the three-month period came in at BRL824m, marking a 36 per cent increase YoY. Cement sales in the 3Q23 stood at 10.3Mt, a one per cent uptick on the same period in 2022. Consolidated adjusted EBITDA reached... |
Burnpur Cement posts YoY revenue growth10 November 2023, Published under Cement NewsIndia’s Burnpur Cement Ltd has posted total revenue of INR434.8m (US$5.22m) in the quarter ended 30 September 2023, up from INR330.3m in the same period a year ago. A loss of INR191.5m was recorded over the September 2023 quarter from continuing operations, versus a loss of INR202.5m in the same period in 2022. Earnings per share have improved from -INR2.35 in the quarter ended 30 September 2022 to -INR2.22 in the same quarter the following year. According to the company, expenses have ri... |