Cement News tagged under: financial business results
Pioneer Cement’s profit expanded by 49% in 1HFY23-2404 March 2024, Published under Cement NewsPioneer Cement Ltd announced its 1HFY23-24 result on the Pakistan Stock Exchange (PSX) website on 28 February 2024, where the company posted a profit after tax (PAT) of PKR2.62bn (US$9.38m) compared to PKR1.76bn in the equivalent period last year. This translates into a growth of 49.1 per cent YoY on the back of reduced financial costs and an increase in other income. Its sales (gross revenue) increased to PKR18.82bn from PKR18.64.08bn in financial year-ago period. The company incurred a ... |
DG Khan Cement's profit increased by 13% in 1HFY23-2401 March 2024, Published under Cement NewsDG Khan Cement Co Ltd (DGKC) announced its financial results for the half year ended 2023-24 on 26 February 2024. Its net profit after taxation increased by 13.2 per cent YoY to PKR1.05bn (US$379.2m). The rise in profit can be attributed to higher sales or 17 per cent during these six months ending on 31 December 2023. Its net sales increased to PKR34.78bn from PKR29.76bn during this period. It incurred a distribution cost of PKR1.20bn (a 136 per cent rise) against PKR508m and administ... |
Thatta Cement reports profit in 1HFY23-2427 February 2024, Published under Cement NewsPakistan cement producer Thatta Cement Co Ltd (THCCL) has announced its financial results for the half year ended 31 December 2023 (July-December 2023) on the website of the Pakistan Stock Exchange (PSX). Its reported profit after tax was PKR358m (US1.28m) against a loss of PKR6.2m in the corresponding period last year. The recovery from losses can be attributed to higher sales and significant improvement in gross profit during this period. THCCL's net sales increased to PKR3.12bn from PK... |
Bestway Cement Factory reports 1HFY23-24 fall in profit26 February 2024, Published under Cement NewsBestway Cement Ltd (BWCL) announced its 2QFY23-24 (October-December) and 1HY23-24 (July-December 2023) results on the website of the Pakistan Stock Exchange (PSX) on 21 February 2024. The company's net earnings at PKR6.78bn (US$24.25m) in 1HFY23-24 were down 15.9 per cent YoY. The high cost of finance, sales tax, excise duty and expensive cost of sales can be attributed to lesser profit during this period. Its gross sales increased by 31.9 per cent to PKR76.81bn from PKR58.24bn during thi... |
Maple Leaf Cement Factory saw a fall in profit in 1HFY23-2423 February 2024, Published under Cement NewsMaple Leaf Cement Factory Ltd (MLCF) reported its 2QFY23-24 (October-December 2023) and 1HFY2023-24 results to the Pakistan Stock Exchange (PSX), posting net earnings of PKR2.24bn (US$) in 2QFY23-24, down 23 per cent YoY and up 38 per cent QoQ. This takes 1HFY23-24 (July-December 2023) earnings to PKR3.86bn compared to PKR4.30bn, down 10 per cent YoY due to a decline in sales volumes. According to Topline Pakistan Research, the 2QFY23-24 result exceeded industry expectations due to high... |
City Cement Co reports a fall in sales quantity during 202323 February 2024, Published under Cement NewsCity Cement Co of Saudi Arabia has recently uploaded its annual financial results for the period ending on 31 December 2023 at the Saudi Exchange. During this period, the company’s net profit fell by 28.70 per cent to SAR82m (US$21.86m) from SAR115m earned in the same 12-months last year. A cursory look at the financial results tells that company sales shrunk by 17.36 per cent, which has caused the decline in profit YoY. The sales revenue was SAR356m against SAR431m of the previous financi... |
Argos' adjusted EBITDA totals COP672bn in 4Q2322 February 2024, Published under Cement NewsFor the fourth quarter of 2023, Argos ' adjusted EBITDA stood at COP676bn (US$172.2m), increasing 12 per cent compared to 4Q22. The results were driven by strong pricing dynamics, especially in the US, combined with cost efficiencies in both Colombia and the US. Adjusted EBITDA margin stood at 23.2 per cent for the quarter, increasing 393 basis points versus 2022 on a comparable basis. In terms of volumes, total cement dispatches reached 3.8Mt, with a contraction of 2.3 per cent, caus... |
Cherat Cement saw 12 per cent profit growth in 1HFY23-2420 February 2024, Published under Cement NewsCherat Cement (CHCC) has recently uploaded its financial results to the Pakistan Stock Exchange (PSX) website. The company reported a 2QFY23-24 net profit after tax (NPAT) of PKR1.9bn (US$m12.2m), up 20 per cent YoY and 22 per cent QoQ. This result takes 1HFY23-24 NPAT to PKR3.4bn, up 12 per cent YoY. The positive result was possible due to increased gross margin and other income as well as a cut in financial costs during the three and six months. The company posted net sales of PKR20.... |
Vicat posts better than expected results in 202319 February 2024, Published under Cement NewsVicat posted 2023 EBITDA of EUR740m, a rise of 30 per cent compared to 2022, an improvement on analysts CIC Market Solutions’ expectations of EUR709-716m. Several factors account for Vicat's strong financial results, claims CIC Market Solutions. Despite a sharp downturn in the new housing segment in Europe (41 per cent of revenues, and 31 per cent in France), consolidated volumes were up 6.3 per cent, thanks in particular to the ramp-up of the Ragland kiln in Alabama. In the Americas, w... |
Crown Cement's net profits rise 649% in 1HFY23-2416 February 2024, Published under Cement NewsCrown Cement PLC , one of Bangladesh’s leading cement manufacturers, recently uploaded its financial results on the Dhaka Stock Exchange (DSX). The company witnessed a hefty surge in profit between July and December 2023 due to higher sales and other income from the shipping business. It earned a profit of BDT706.18m (US$6.436m) compared to BDT94.28m in July-December 2022, a YoY increase of 649 per cent. The company also attributed the expansion in profit to the rise in prices of cement bag... |