Cement News tagged under: financial business results
Anhui Conch in 2Q23 totals CNY6.8bn23 August 2023, Published under Cement NewsAnhui Conch Cement ’s first-half net profit of CNY6.8bn (US$932m) is lower than expected, falling 32 per cent YoY. The decline is due to lower average selling prices and weak cement demand. Conch still outperformed the industry given that some of its peers delivered a sharper drop in earnings. Morgan Star has lower its 2023-25 earnings forecasts by 18-19 per cent. While Morgan Star still expects a recovery for the sector, it forecast that this would be gradual, given China’s slu... |
Fletcher Building posts EBIT growth of 6% in FY2317 August 2023, Published under Cement NewsFletcher Building’s FY23 financial result continued to build on the progress made in both EBIT levels and EBIT margins over the last several years. “Despite softer residential markets in New Zealand and Australia, and the major New Zealand weather events in the second half, group EBIT before significant items grew by six per cent in FY23 to NZD798m [US$475.7m]," said Fletcher Building Chief Executive Ross Taylor. "Group EBIT margin of 9.4 per cent in FY23 lifted from 8.9 per cent in FY22,... |
Bestway Cement sees 16% YoY decline in cement dispatches17 August 2023, Published under Cement NewsBestway Cement Ltd has reported a 16 per cent YoY decline in total cement disptaches in the fiscal year 2023 (ended 30 June 2023) due to reduced local and export sales volumes. The company attributes the decline to fierce competition. However, Bestway retained its position as the largest cement producer and the market leader in the country on the back of its superior quality and wide product range, according to the company. The company recorded a gross turnover of PKR120bn (US$405m) in ... |
Sinai Cement cuts consolidated loss by 22% YoY in 1H2316 August 2023, Published under Cement NewsSinai Cement Co posted a 22.12 per cent YoY drop in consolidated net loss attributable to the holding company for the 1H23, according to the consolidated financial income statement filed to the Egyptian Exchange (EGX) on 15 August. The company incurred a consolidated net loss excluding minority interest of EGP79.719m (US$2.58m) in 1H23, down from a net loss of EGP102.359m in 1H22. Net sales stood at EGP2.363bn in the period from 1 January until 30 June of this year, up from EGP1.025bn i... |
Votorantim Cimentos reports BRL470m net profit in 2Q2314 August 2023, Published under Cement NewsVotorantim Cimentos ended the 2Q23 with BRL470m net profit, a 28 per cent increase compared to BRL366m (US$74.68m) in the same period last year. The company’s global net revenue in the quarter was BRL6.9bn, an increase of three per cent compared to the 2Q22, primarily due to the volume added by the Málaga plant in southern Spain acquired in November 2022. The company’s global cement sales in the 2Q23 totalled 9.5Mt, a slight decrease of one per cent compared to the 2Q22. Performance... |
UltraTech Chairman sets new capacity goal at AGM14 August 2023, Published under Cement NewsIn FY22-23 UltraTech Cement recorded net revenues of US$7.9bn (INR632,400m) and an EBITDA of US$1.4bn (INR111,230m). FY22-23 marked significant milestones for UltraTech as the first Indian cement company to record over 100Mt sales volume in a fiscal year. UltraTech has doubled its grey cement production capacity from 66.3Mta production capacity in FY15-16 to 132.4Mta in FY22-23. The company commissioned an additional 12.4Mta during FY22-23 and another 5.5Mta in FY23-24, elevating ... |
Argos reports a 26% EBITDA growth in 1H2310 August 2023, Published under Cement NewsArgos (Group Argos) had a solid operating period in the 1H23 recording an EBITDA of US$278m, an increase of 26 per cent and a sales rise of eight per cent or US$1.5bn. During the accounting period, Argos shipped 7.9Mt of cement, a contraction of 2.7 per cent when compared with the 1H22 and 3.5Mm 3 of concrete, down 6.5 per cent on the 1H23. This was caused mainly by the higher number of rainy days in the USA, the slowdown in house building in Colombia and by the difficult social and po... |
Lucky Cement earned a net profit of PKR13.7bn in FY22-2309 August 2023, Published under Cement NewsLucky Cement earned an after-tax profit of PKR13.7bn (US$47,687m) in FY22-23 as compared to PKR15.3bn reported last year, mainly on account of higher tax charges because of the levy of super tax at 10 per cent on a perpetual basis in the Finance Act 2023. Lucky informed the Pakistan Stock Exchange (PSX) that its gross sales revenue increased by 15.9 per cent compared to last year. Although the local sales volumes declined by 14.9 per cent, the sales revenue increased by 16.9 per cent (... |
Eagle Materials Inc's heavy materials division achieves revenue of US$396m in 1QFY23-2404 August 2023, Published under Cement NewsEagle Materials Inc 's first quarter of FY23-24 ended 30 June 2023 saw revenue in the heavy materials sector joint venture (JV) and intersegment cement revenue reach US$396m, a 15 per cent improvement. Heavy Materials (cement, concrete and aggregates) operating earnings increased 19 per cent to US$81m primarily because of higher cement sales prices and sales volume partially offset by increased maintenance costs and the effects of an extended maintenance outage at the joint venture. ... |
BUA Cement posts 1H23 revenue of NGN221bn31 July 2023, Published under Cement NewsBUA Cement of Nigeria reported revenue of NGN221,067m (US$284.9m) in the 1H23, up 17.2 per cent from the NGN188,562m recorded in the 1H22. Operating profits totalled NGN86,940m in the 1H23, up 11.8 per cent from NGN77,737m in the 1H22. Profit before tax amounted to NGN76,425m, up from NGN77,378m in the 1H22. Profit after tax totalled NGN63,616m, a rise of 3.7 per cent from the NGN61,364m seen in the 1H22. |