Cement News tagged under: business results
Southern Province 9M profit contracts to SAR238m03 November 2022, Published under Cement NewsThe net profit after zakat and tax of Saudi Arabia-based Southern Province Cement Co declined by 28.1 per cent YoY to SAR238m (US$63.5m) in the 9M22 from SAR331m. Revenues fell by 12.3 per cent YoY to SAR887m in the 9M22 period from SAR1.01bn in the 9M21. Third-quarter 2022 financial results In the third quarter of 2022, the company’s net profits after zakat and tax saw a 20.3 per cent improvement to SAR89m when compared with SAR74m in the 3Q21. When compared with the previous quarte... |
Semen Indonesia improves 9M net profit and carbon performance02 November 2022, Published under Cement NewsIndonesia-based PT Semen Indonesia Group (SIG) posted a net profit of IDR1.65trn (US$105.7m) in the January-September 2022 period, up 18.9 per cent from IDR1.39trn in the 9M21. In the cement division, sales reached IDR22.678trn while other revenues reached IDR7.506trn. The group’s revenue in the nine-month period reached IDR25.28trn, a minor decrease of 0.2 per cent when compared with IDR25.330trn reported in the 9M21. The cost of revenue was at IDR17.94trn, up from IDR17.655trn in the y... |
Caribbean Cement Co reports 13% 3Q revenue increase02 November 2022, Published under Cement NewsJamaica-based Caribbean Cement Co Ltd has posted robust 3Q22 results with revenues for the quarter increasing by 12.7 per cent to JMD6.2bn (US$40.3m) from JMD5.5bn in the 3Q21. Operating earnings were up to JMD1.9bn due to the reduction in the cost of sales as a share of net sales to 56 per cent from 80 per cent in the same period last year. This reduction was the result of the company’s decision not to undertake its planned major maintenance in the 3Q22. Last year, the maintenance progr... |
Tanzania Portland Cement reports 9M profit up 6%02 November 2022, Published under Cement NewsTanzanian cement producer Tanzania Portland Cement PLC has posted a six per cent increase in pretax profit in the first nine months of the year as domestic and export cement demand has surged. Pretax profit increased by six per cent YoY to TZS110.53bn (US$47.4m) in the 9M22 from TZS94.82bn in the year-ago period. The company’s cement revenue rose by nine per cent YoY to TZS358.3bn, but the cost of sales of TZS226.2bn considerably impacted its net profit. “The high availability and effic... |
Holcim posts record 3Q performance01 November 2022, Published under Cement NewsHolcim reported record 3Q net sales of CHF8045m (US$8043.1m), up 10.4 per cent YoY and 16.3 per cent on a like-for-like (LfL) basis, from CHF7286m. Recurring EBIT edged 1.2 per cent (+7.7 per cent LfL) to CHF1551m in the 3Q22 from CHF1534m in the 3Q21. In the 9M22 group net sales increased 14.5 per cent (+13.9 per cent LfL) to CHF22,725m from CHF19,842m in the 9M21. Recurring EBITDA advanced to CHF3724m in the 9M21 from CHF3516m in the year-ago period. This represents a YoY rise of 5.9 p... |
GCC posts 18% hike in 3Q net profit26 October 2022, Published under Cement NewsGCC reported an 11.8 per cent YoY increase in sales to US$352.8m in the July-September 2022 period from US$315.4m in the year-ago period. EBITDA in the 3Q22 advanced by 6.6 per cent YoY to US$117.4m. Meanwhile, the consolidated net profit of GCC increased by 18.4 per cent YoY to US$69.5m in the 3Q22 when compared with US$58.7m in the 3Q21. “Once again we achieved an extraordinary performance. The results of the third quarter reflect that GCC continues to successfully mitigate the impacts o... |
HeidelbergCement Bangladesh sees rising sales cost in 9M2226 October 2022, Published under Cement NewsHeidelbergCement Bangladesh Ltd, owned by HeidelbergMaterials, announced its financial results for the 9M22 period on 18 October. It posted a loss of BDT241.3m (US$2.3m0 during this period compared to the profit of BDT558.5m earned in the corresponding period in the last year, according to the company’s regulatory filing to the local bourse. The company's net sales/revenue increased by 1.1 per cent to BDT12.80bn, but the cost of sales also increased to BDT12.22bn from BDT11.09bn ... |
Usje posts 41% net profit drop in 9M2224 October 2022, Published under Cement NewsCementarnica Usje , the North Macedonian subsidiary of Titan, reported a drop in net profit by 41 per cent to MKD621.2m (US$9.9m) in the first nine months of 2022 when compared with the year-ago period. The company’s operating expenses increased 46 per cent YoY to MKD4.1bn in the 9M22 on the back of higher material costs, which were up 78 per cent to MKD2.5bn. Operating revenue expanded by 22 per cent YoY to MKD4.8bn with domestic sales increasing 24 per cent YoY to MKD3.1bn and exports ... |
Carthage Cement reports 10% increase in 9M turnover14 October 2022, Published under Cement NewsTunisia-based Carthage Cement posted a turnover of TND262m (US$8.2m) at the end of September 2022, compared to TND239m in the 9M21, representing an increase of 10 per cent YoY, according to African Manager. The company attributes the rise in turnover to a 25 per cent hike in export revenues and a seven per cent advance in domestic sales. Export turnover increased to TND41.2m in the 9M22 from TND32.9m in the year-ago period. Local turnover advanced to TND198.4m in the January-September 202... |
Steppe Cement sees 65% surge in 1H post-tax consolidated profit30 September 2022, Published under Cement NewsSteppe Cement has announced a consolidated profit after tax of US$10.2m for the six months ended 30 June 2022, up 65 per cent YoY. The Kazakstan cement producer’s gross margin in the 1H22 edged up from 44 to 46 per cent in US$ terms on the back of cement price increases . Selling expenses per tonne (in US$ terms) were down 20 per cent YoY in the 1H22 due to increased sales to markets located closer to the company’s cement plant. However, production costs increased by 11 per cent in ... |