Cement News tagged: Corporate
Sephaku Holdings' profit eroded by rising costs
Sephaku 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 in...
Meghna Cement Mills posts 71% profit fall in FY22-23
Meghna Cement Mills Ltd of Bangladesh posted its financial result for the year ending on 30 June 2023 on the Dhaka Stock Exchange’s website. The company reported that its profit plummeted to BDT15.81m (US$0.142m) from BDT558m a year ago, thus registering a 71 per cent fall in profit YoY. Meanwhile, local media attributed the decline in revenue earnings to the currency devaluation and hi...
JK Cement announces passing of Jitendra Singh
India’s JK Cement has announced the sudden passing of Jitendra Singh, its former chief information officer (CIO). Mr Singh suffered a heart attack on 12 November 2023, aged 56. “We are deeply saddened in sharing the news of the sad demise of our former Chief Digital Officer Mr Jitendra Singh who took his last breath at Meerut on November 12, 2023. He had a cardiac arrest. May God give h...
New chairman in Attock Cement
Company Secretary, Attock Cement Pakistan Ltd , Irfan Amanullah, informed Pakistan Stock Exchange Ltd (PSX) on 13 November that after the recent election of directors of the company held on 23 October 2023, Shuaib A Malik has been appointed chairman by the Board of Directors.
LafargeHolcim Bangladesh registers a 58% growth in profit during 9M23
LafargeHolcim Bangladesh ( Holcim group ) saw a 58 per cent YoY growth in profit to BDT5.21bn (US$77.2m) for January-September 2023 period against BDT3.308bn earned in the corresponding period of last year, according to company financial results. The profit growth was possible due to a 55 per cent growth in operating profit to BDT6.63bn in 9M23. During the period, the company's sales volume...
Birla Corp reports 14% revenue growth in 2QFY24
Birla 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, accord...
Ramco Cements reports YoY profit advance
The 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 INR...
Anjani Portland Cement reports revenue fall YoY
Anjani 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 quar...
Al Jouf Cement Co's profit balloons 836.43% YoY in 9M23
Al Jouf Cement Co announced the initial consolidated financial results for the period ending 30 September 2023 on the Saudi Stock Exchange. The company saw its net income surge to SAR72.6m (US$19.36m) for the first nine months of 2023 (January-September), compared to SAR7.8m for the same period in 2022. This interprets into the expansion of profit 836.43 per cent YoY. The sales/revenue jum...
Orient Cement sees revenue expand 17% YoY
Orient 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 powe...
FLSmidth's group revenue rises 2% in 3Q23
FLSmidth's consolidated group revenue increased by two per cent in the 3Q23 compared to the 3Q22. Adjusted for integration costs of DKK119m (US$17m), the EBITA margin was 10.1 per cent in the 3Q23. Including integration costs, the EBITA margin was eight per cent in the 3Q23 compared to 5.9 per cent in the 3Q22. Excluding the AFT divestment gain, the underlying EBITA margin was 6.3 per cent. Th...
Votorantim Cimentos posts 36% profit growth in 3Q23
Votorantim 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 a...
Argos records EBITDA of COP742bn in the 3Q23
Argos reported that for the 3Q23 adjusted EBITDA stood at COP742bn (US$180.35m), increasing 25.4 per cent on a comparable basis versus 3Q22. The company's revenue in the 3Q23 slipped one per cent YoY to COP3087bn from COP3118bn in the year-ago period. The results were driven by strong pricing dynamics across all regions, combined with cost efficiencies. The adjusted EBITDA margin stood at 24...
Lafarge Africa reduces CO2 emissions through AF use
Lafarge Africa has reduced is CO 2 emissions from 595kg CO 2 /t in 2021 to 574kg CO 2 /t in 2022 through the use of alternative fuels and energy-efficient technologies. According to the company’s 2022 Sustainability Report, its global thermal substitution rate in 2022 stood at 13.5 per cent, compared to 9.4 per cent in 2021, reports This Day. Prince Adebode Adefioye, chairman, Lafarge ...
Titan announces 14% sales rise in 9M23
Titan 's group sales in the 9M23 increased by 14 per cent to EUR1892m YtD driven by increased volumes in all its regions and by solid pricing levels. Group EBITDA reached EUR397m YtD, up by 72 per cent as the group’s margins restored. Net profit more than doubled in the YtD to EUR198m. The group’s nine-month 2023 net profit after taxes and minority interests (NPAT) more than doubled, reachi...
Burnpur Cement posts YoY revenue growth
India’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...