Cement News tagged: Corporate
Unacem’s profit down 53% in 1Q18
Peruvian cement producer Unacem reported a 53 per cent fall in net profit to PEN157m in the first quarter of 2018. Unacem’s domestic dispatches decreased 0.6 per cent YoY to 1.199Mt. However, revenues increased by 1.1 per cent YoY due to a higher price realisation. Cost of sales went up 2.2 per cent when compared with 1Q17 as a result of higher maintenance costs, lowering the gross marg...
JK Lakshmi reports 62% rise in standalone net profit
JK Lakshmi Cement reported a 62.3 per cent YoY rise in standalone net profit to INR338.4m (US$4.99m) in the 4Q18. The company’s total income saw a slight decrease of 0.8 per cent to INR9.23bn, compared with INR9.31bn seen in the year-ago period. However, the company has stated the results in the two periods are not comparable. "With introduction of GST, revenue from operations for curren...
Cemex invests in health & safety app
Cemex Ventures announced it invested in Prysmex, a Mexico-based start-up that offers an app to detect and helping to prevent workplace accidents through the Internet of Things and real-time data collection. Prysmex’s innovative solution features a web-based platform with a collaborative management app that monitors the environmental and geolocation variables of unsafe acts and conditions on ...
Mangalam Cement records 8% sales increase in FY18
India’s Mangalam Cement Ltd has reported a one per cent YoY increase in net sales for the quarter ending 31 March 2018, rising to INR3.102bn (US$45.76m) from INR3.072bn. Net profit advanced 29.7 per cent to INR45m, compared with INR34.7m of the year-ago period. In the FY18, the company’s net sales surged 7.9 per cent YoY to INR11.49bn (FY17: INR10.66m). However, net profit saw a significant ...
Gharibwal starts its new VRM
Gharibwal Cement Ltd has started commercial operation of its 250tph vertical cement mill at its Ismailwal, plant, Pakistan. According to Company Secretary, Muhammad Shamail Javed, the new cement mill will help reduce the energy costs of cement grinding, while the excess cement grinding capacity will support future expansion plans. This new cement mill is the single-largest cement grinding mil...
JK Cement doubles net profit to INR964.5m
JK Cement's net profit more than doubled to INR964.5m (US$14.2m) for the fourth quarter ended March 2018. The company had posted a net profit of INR425.7m in the same quarter of the previous fiscal. The cement producer's total revenue during the quarter under review stood at INR13.69bn, up from INR12.55bn in the year-ago period. In the quarter under review, JK Cement reported tax expense...
CIMAF plans 0.3Mta works at Bouaké
Morocco-based CIMAF plans to build a 0.3Mta cement plant at Bouaké, northern Côte dIvoire. "The Bouaké plant has a capacity of 300,000t. We have acquired the land and are preparing the permits to start construction," said Khalid Iben Khayat, CIMAF’s regional director. CIMAF started its first plant project in the country in November 2011. The 0.5Mta works, which represents an investment ...
CMS sees 51% rise in profit
Malaysia-based Cahya Mata Sarawak Bhd (CMS) has reported a 15.4 per cent rise in unaudited revenues to MYR354.987m (US$89.7m) in the quarter ended 31 March 2018 from MYR307.679m in the corresponding quarter of 2017. Profit before tax rose 27.8 per cent from MYR44.852m in 1Q17 to MYR56.958 in 1Q18 while profit attributable to ordinary shareholders of the parents advanced by 50.7 per cent to M...
LafargeHolcim appoints new CEO of US Cement
LafargeHolcim has appointed Jamie Gentoso as the new CEO of its US Cement operations. Ms. Gentoso has previously worked as the senior vice president of concrete at Sika Corp US, and succeeds John Stull, who was recently announced as the CEO of Holcim Philippines. “Jamie has a proven track record in this industry, and her deep-seeded expertise and strong focus on the customer will be valued c...
Cementarnica Usje net profit falls in 1Q18
Macedonian cement producer Cementarnica Usje has reported a 14 per cent YoY fall in non-consolidated net profit to MKD94.9m (US$1.8m) in the 1Q18, the company said in an interim statement. The Titan-owned company’s operating revenue during the first quarter of this year declined 14 per cent to MKD645.8m when compared with January-March 2017. Domestic sales fell 15 per cent YoY to MKD428.5m ...
Gulf Cement sees 1Q loss
Gulf Cement has incurred losses if AED2.9m (US$789,653) in the 1Q18, according to a bourse statement. In the equivalent period of 2017, the company reported a AED8.1m profit. The company has attributed the loss to a lower profit margin of 4.5 per cent when compared to 10.3 per cent in 1Q17. Gulf Cement also noted losses from investments at a value of AED7.3m in 1Q18. In the 1Q17 investments ...
Uruguay’s ANCAP and Fancap agree over cement production
Uruguayan oil company ANCAP and its workers’ union Fancap have come to an agreement to resume cement production at the Minas works. Following a week of talks with support from Uruguayan government officials both sides agreed over operational and minimal roles and security personnel shifts in Minas and Paysandú.
Argos consolidated EBITDA jumps 31% in 1Q18
Argos has announced revenues of COP1.9trn (US$670m) and a net profit of COP54.bn in the first three months of 2018. EBITDA increased 31 per cent YoY to COP371bn. However, cement sales fell by 4.1 per cent to 3.7Mt while concrete sales volumes fell 7.5 per cent to 2.4Mm 3 . The lower volumes have been attributed mainly to the winter season that affects some US states to a greater extent as we...
Mixed results for Egyptian producers
Egypt’s Alexandria Cement has announced a further consolidated net loss in the first quarter of 2018, which widened 17.1 per cent YoY to EGP34.78m. Furthermore, the company recorded a standalone net loss of EGP71.28m against a net profit of EGP12.63m seen in the year-ago period. Elsewhere, Misr Beni Suef Cement posted a 280.9 per cent YoY rise in net profit to EGP125.9m for 1Q18. Sales saw a...
Dewan Cement rejects Mega Conglomerate offer
Mega Conglomerate's plan to acquire 87.5 per cent majority stake in Dewan Cement could be over. The deal is thought to have collapsed after Dewan Mohammad Yousuf Farooqui, chairman of the Yousuf Dewan Companies, rejected the offer of Mega Conglomerate to acquire a majority stake in Dewan Cement, reports Pakistan Today. A letter sent on 21 April by Mega Conglomerate Executive Director, Aly Kh...
Chia Hsin Cement records net profit
Taiwan's Chia Hsin Cement Corp has reported a 21.3 per cent YoY drop in revenue for the first quarter of 2018, falling to TWD471.26m (US$15.8m) from TWD598.48m. However, the company also announced a net profit of TWD152.31m, compared to a net loss of TWD111.32m in the year-ago period.