Cement News tagged: Corporate

Tourah Cement sees net loss widen 205%

15 August 2019, Published under Cement News

Egypt’s Tourah Cement has seen its net losses widen 204.7 per cent YoY for the first six months of 2019, surging to EGP461.25m (US$27.78m) from EGP2.24m in the 1H18. On a quarterly basis, the company’s net loss advanced to EGP50.9m in the 1Q19 from EGP13.8m in the corresponding period of 2018.

Birla Corp announces INR50bn expansion plans

15 August 2019, Published under Cement News

India’s Birla Corp has announced plans to increase its total cement capacity to 25Mta by 2025, with an investment of INR50bn (US$701.5m). The new capacity will be shared between the company’s existing facilities and those acquired from Reliance Cement. The first phase of expansion will see an investment of INR24.5bn in a new integrated plant at Mukutban, Nagpur, to boost overall capacity to...

Taiwan Cement Corp records 6% decline in revenue

14 August 2019, Published under Cement News

Taiwan Cement Corp has announced a 5.9 per cent YoY fall in revenue for the second quarter of 2019, falling to TWD31.36bn (US$1bn) from TWD33.32bn. Pretax profit saw a decline of five per cent to TWD9.33bn, while net profit rose 2.3 per cent to TWD7.23bn from TWD7.06bn.

OYAK targets British Steel bid

14 August 2019, Published under Cement News

Turkish cement producer OYAK has become the front runner in the bidding to buy British Steel. The Turkish pension fund has been talking with the UK government to takeover British Steel via Ataer Holding, a wholly owned investment vehicle of OYAK, reports the Financial Times. OYAK is already a diversified company with businesses in cement, agriculture, mining and energy and a joint venture wit...

 Argos sees net income grow  to US$22m in 1H19

Argos sees net income grow to US$22m in 1H19

16 August 2019, Published under Cement News

Argos has announced that the company's net income grew by 33.5 per cent to US$22m in 1H19. Argos revenues also expanded by 10.6 per cent to US$1.419m, while EBITDA registered an increase of four per cent to total US$262.4m. Cement shipments were just under 8Mt, 1.2 per cent higher than in 1H18 and concrete dispatched were 5Mm 3 , down 2.5 per cent in 1H18 due to heavy rainfall in some par...

West China Cement reports 23% increase in profit

13 August 2019, Published under Cement News

West China Cement Ltd has announced a 22.7 per cent increase in profit to CNY793.5m (US$112.3m) for the 1H19, compared with CNY646.7m in the year-ago period. Revenue climbed 27.2 per cent YoY to CNY3.31bn from CNY2.6bn, while EBITDA advanced 5.9 per cent to CNY1.38bn. Total cement and clinker sales volumes rose 5.1 per cent to 8.61Mt from 8.19Mt, with cement sales consisting of 8.45Mt of the ...

Cherat Cement’s profits shrink by 17% per cent

Cherat Cement’s profits shrink by 17% per cent

13 August 2019, Published under Cement News

Cherat Cement Company Ltd (CCCL) has announced its financial results for the year ended 30 June 2019 by declaring of net profit of PKR1.76bn (US$10.98m), which fell by 17.4 per cent YoY, as compared to PKR2.13bn in the same period last year. In a bourse filling, the company says that its net sales during the reporting year increased by 10 per cent to PKR15.86bn from PKR14.39bn during the sam...

China Resources Cement sees 7% fall in net profit in 1H19

12 August 2019, Published under Cement News

China Resources Cement has reported a 6.5 per cent YoY drop in net profit to HKD3.77bn (US$480.8m) for the first six months of 2019, against HKD4.03bn in the corresponding period of last year. The company has attributed the results to falling sales of cement, clinker and concrete amid a slowing Chinese economy. Revenue declined six per cent to HKD17.41bn in the 1H19. The company has noted t...

Star Cement receives approval for 0.6Mta Liberian project

12 August 2019, Published under Cement News

Star Cement has received approval from the Liberian government to construct a 0.6Mta plant in Monrovia at an estimated investment of US$41m. Following commissioning, the price of cement is expected to drop in the domestic market and assist a boom in the construction industry, according to a company press release. Operations are anticipated to begin within the next 12-18 months, at which tim...

China Shanshui Cement records 75% increase in net profit

12 August 2019, Published under Cement News

China Shanshui Cement has seen a 75 per cent YoY rise in net profit to CNY1.19bn (US$168.5m) for the first half of 2019, which it has attributed to higher cement sales. Revenue in the 1H19 increased 39.6 per cent to CNY9.44bn, compared with CNY6.76bn in the year-ago period. However, the company expects cement demand to slow in the second half as real estate development sees a slowdown in th...

Bestway Cement profit falls 23% in FY19

12 August 2019, Published under Cement News

Bestway Cement Ltd (BCL) has announced its financial results for the year ended 30 June 2019 on 8 August by declaring of net profit of PKR10.09bn (US$63m), amounting to a fall of 23.3 per cent YoY, as compared to PKR13.15bn in the same period last year. The company's net sales during the reporting year increased by 2.5 per cent to PKR79bn from PKR77.11bn during the same period last year. It ...

Sonacim lowers cement prices for 1 month

12 August 2019, Published under Cement News

Chad-based Sonacim will be lowering its cement price between 12 August and 11 September, according to its new Managing Director, Faïtchou Etienne. The price of 32.5-grade PC cement will be reduced to XAF5500 (US$9.37) from XAF6000 while 42.5-grade PO cement will be price at XAF7000, down from XAF9000.

East African Portland Cement withdraws dismissing workforce notice

12 August 2019, Published under Cement News

Kenya’s East African Portland Cement Co (EAPCC) has withdrawn the notice about the plan to dismiss its workforce of 800, saying it would make a further statement about restructuring the company. "(The) notice has been withdrawn," Acting Managing Director, Stephen Nthei said in a letter addressed to the Kenya Chemical Workers Union and seen by Reuters. "A fresh replacement notice on the inten...

UltraTech Cement announces 91% rise in consolidated profit

15 August 2019, Published under Cement News

India’s UltraTech Cement Ltd has announced a 91 per cent YoY growth in consolidated net profit to INR12.08bn (US$171.2m) for the quarter ending 30 June, compared with INR6.31bn in the year-ago period. Net sales increased 15 per cent to INR100bn, while EBITD surged 61 per cent to INR28.4bn from INR17.6bn. Standalone net sales rose 15.5 per cent YoY in the 1QFY19-20, reaching INR96.48bn from I...

Loma Negra sees 2% drop in 2Q revenue but EBITDA up

15 August 2019, Published under Cement News

Argentina-based Loma Negra reported a 2.2 per cent YoY drop in 2Q net revenue to ARS7.47bn (US$165m) while consolidated adjusted EBITDA increased 7.1 per cent YoY to ARS1.929bn, according to Wall Street Online. The rise in EBITDA was attributed mainly to the cement, masonry and lime segment in Argentina but was also supported by growth across the company’s other key segment. Moreover, it was...

Saurashtra Cement posts rising 1Q net profit

09 August 2019, Published under Cement News

India-based Saurashtra Cement reported a consolidated revenue from operations of INR1.51bn (US$21.4m) in the 1QFY19-20 (ended 30 June 2019), down 10.1 per cent from INR1.68bn in the year-ago period. The company’s 1QFY19-20 net profit jumped to INR156.1m in the April-June 2019 quarter from INR49.4m in the previous-year’s equivalent quarter.