Cement News tagged under: corporate
Afrimat boosts revenue by 24% in FY23-24 as Lafarge integration continues17 May 2024, Published under Cement NewsAndries Van Heerden, Afrimat's Group CEO, stated that he was exceptionally pleased with the group’s performance for the year ended 29 February 2024, which was supported by a revenue increase of 23.9 per cent from ZAR4.9bn (US$268.9m) to ZAR6.1bn (US$334.8m). Operating profit increased by 19.8 per cent to total ZAR12bn (2023: ZAR961.6m), delivering an operating profit margin for the group of 18.9 per cent. “The diversified position Afrimat has adopted, together with the efficiency proje... |
Al Jouf Cement sees net profit advance 21% in 1Q2417 May 2024, Published under Cement NewsSaudi Arabia’s Al Jouf Cement Co saw its consolidated net profit advance to SAR12.45m (US$3.32m) in the first quarter of 2024, up 21.2 per cent from SAR10.27m in the same period a year earlier. Compared to the previous quarter, however, net profit was down 69.2 per cent from SAR40.46m. According to Zawya, revenue in the 1Q24 increased 16.8 per cent from SAR70.27m in the 1Q23 to SAR82.04m. Compared QoQ, revenue slipped two per cent from SAR83.74m. |
Thatta Cement Co shows strong profit growth in 9MFY23-2417 May 2024, Published under Cement NewsThatta Cement Co Ltd reported that in the nine months ending on 31 March (9MFY23-24), the company earned a net profit of PKR888.2m (US$3.19m) when compared to PKR80.6m in the year-ago period, representing a strong advance in net profit during the accounting period. The company's local sales, in terms of volume, increased by 21.2 per cent to 387,774t compared to the corresponding period of last year, when 319,959t of cement were dispatches. Thatta Cement achieved a 41.1 per cent increase i... |
Hume Cement doubles profits17 May 2024, Published under Cement NewsMalaysia’s Hume Cement Industries has reported net profit of MYR61.06m (US$13.04m) in the third quarter of the current financial year, ended 31 March 2024. This has more than doubled compared to the same period a year earlier. Revenue over the same time frame advanced from MYR289m to MYR310.4m. According to the company, the increase in revenue and profit was due to lower manufacturing costs, coupled with a higher cement average selling price and higher sales volumes. For the first nin... |
Ciments de Bizerte posts 53% turnover drop in 1Q24 due to lack of petcoke17 May 2024, Published under Cement NewsTunisia-based Les Ciments de Bizerte saw a 52.6 per cent drop in turnover to TND12.262m (US$3.9m) in the first quarter of 2024 from TND25.858m. The drop in turnover was due to the halt in clinker production during the quarter. The company suspended clinker production in the 1Q24 due to a lack of petcoke following financial challenges that prevented the company from importing the kiln's sole fuel. In the period leading up to 31 March, 50,588t of cement was produced, down 53.7 per cent YoY.... |
CRH revenue up 2% YoY in 1Q2416 May 2024, Published under Cement NewsCRH has reported total revenue of US$6.5bn in the opening quarter of 2024, ended 31 March. This marks a two per cent expansion compared to the same period a year earlier. Adjusted EBITDA over the 1Q24 came in at US$445m, up 15 per cent YoY, while the adjusted EBITDA margin advanced 80bps to 6.8 per cent. The gain in adjusted EBITDA was attributed to the continued delivery of the company’s integrated solutions strategy, strong commercial progress, ongoing costs control and further operation... |
LafargeHolcim Bangladesh net profit stands BDT1.627bn in 1Q2416 May 2024, Published under Cement NewsAccording to the latest quarterly report of LafargeHolcim Bangladesh Ltd ( LHBL), a frontline cement producer in Bangladesh, revenue and net profit shrank by three and 15 per cent, respectively, in the 1Q24. The prime reasons could be the increase in the cost of raw materials and the prevailing inflation in the country. In a statement, Iqbal Chowdhury, CEO, said: “The construction Industry is going through a challenging time, with a consistently high inflationary environment impacting co... |
Andhra Cements posts income growth QoQ16 May 2024, Published under Cement NewsIndia’s Andhra Cements , part of Sagar Cements , has posted total income of INR993m (US$11.89m) in the quarter ending 31 March 2024. This is up from INR984m in the previous quarter. The net loss for the March 2024 quarter came in at INR188m, down from a loss of INR212m in the previous quarter. Basic earnings per share over the same period improved from -INR2.30 to -INR2.04. For the year ended 31 March 2024, total income stood at INR2766m with a net loss for the 12-month period of INR65... |
Menzel opens new headquarters and motor plant16 May 2024, Published under Cement NewsMotor and drive specialist Menzel Elektromotoren has celebrated the opening of its new headquarters near Berlin with a grand inauguration party. In honour of company founder Kurt Menzel, the date was set for the 120 th anniversary of his birthday on 14 May 2024. The company required extra space and modern production facilities designed for efficient processes and larger, heavier machines. In addition to state-of-the-art machinery, efficient paint shops and test fields that can accomm... |
Votorantim Cimentos improves 1Q margins15 May 2024, Published under Cement NewsVotorantim Cimentos ended the 1Q24 with better margins due to higher sales volume and lower costs. The company’s global cement sales totalled 8.1Mt, up one per cent YoY compared to 1Q23. The company posted global net revenue of BRL5.5bn (US$1.072bn) in the 1Q24, down four per cent in local currency (excluding the effect of exchange rate variation) compared to the same period last year. This resulted primarily from lower volume in North America, which was partially offset by positive res... |