Cement News tagged: Corporate

Gujarat Sidhee Cement sees fall in revenue

04 November 2022, Published under Cement News

India’s Gujarat Sidhee Cement Ltd has reported unaudited revenue from operations of INR1422m (US$17.16m) in the quarter ended 30 September 2022, down from INR1663m in the same period a year earlier. Profit over the 2022 three-month period posted a loss of INR154m, compared to a loss of INR0.8m in the same quarter in 2021. Basic earnings per share over the 2022 quarter came in at -INR1.73, ve...

Cookstown Cement rebrands to Cemcor

04 November 2022, Published under Cement News

Cookstown cement plant in Northern Ireland acquired in January by LCC Group and David Millar for GBP56m (US$64.3m) has changed its name to Cemcor. The Cookstown plant, originally known as Lafarge Cement Ireland, was acquired by Cookstown Cement from Holcim. Since then Cookstown Cement has been led and co-owned by David Millar, a former executive with Lafarge. Cemcor has already begun t...

Votorantim Cimentos completes acquisition of Heidelberg Materials assets in Spain

04 November 2022, Published under Cement News

Votorantim Cimentos announced that has completed the acquisition of all the businesses of Heidelberg Materials in the south of Spain, which includes a modern integrated cement plant located in Málaga , three aggregates quarries and 11 ready-mix plants in Andalusia region.   In the last two years, Votorantim Cimentos has strengthened its presence in the Spanish cement market with the acqu...

Sagar expects Andhra outcome before end of 2022

03 November 2022, Published under Cement News

Sagar Cements expects to announce the outcome of its bid to acquire Andhra Cements before the end of December 2022. Sagar currently has a production capacity of 8.25Mta but hopes to expand this to 10Mta by FY24-25. Andhra Cement would bring with it 1.8Mta of cement capacity and 1.65Mta of clinker capacity. According to a report in BusinessLine Online, Sagar Cements is fully prepared for t...

Saurashtra Cement sees revenue decline 13% YoY

Saurashtra Cement sees revenue decline 13% YoY

03 November 2022, Published under Cement News

India’s Saurashtra Cement Ltd has reported consolidated revenue from operations of INR1864m (US$22.5m) in the quarter ended 30 September 2022. This compares to INR2145m in the previous quarter and INR1775m in the same quarter a year earlier. In the six months ended 30 September 2022, revenue from operations came in at INR4010m, up from INR3425m in the same period a year ago. In terms of pr...

Southern Province 9M profit contracts to SAR238m

03 November 2022, Published under Cement News

The net profit after zakat and tax of Saudi Arabia-based Southern Province Cement Co declined by 28.1 per cent YoY to SAR238m (US$63.5m) in the 9M22 from SAR331m. Revenues fell by 12.3 per cent YoY to SAR887m in the 9M22 period from SAR1.01bn in the 9M21. Third-quarter 2022 financial results In the third quarter of 2022, the company’s net profits after zakat and tax saw a 20.3 per cent...

World Cement Association welcomes Carbon Upcycling Technologies

World Cement Association welcomes Carbon Upcycling Technologies

03 November 2022, Published under Cement News

Carbon Upcycling Technologies the World Cement Association’s (WCA) newest associate corporate member. The company is a waste and carbon utilisation specialist. WCA CEO, Ian Riley comments: “We are pleased to be welcoming Carbon Upcycling Technologies to WCA’s expanding network, and look forward to helping their business to scale.” “We are excited by the prospect of working with WCA member...

Semen Indonesia improves 9M net profit and carbon performance

03 November 2022, Published under Cement News

Indonesia-based PT Semen Indonesia Group (SIG) posted a net profit of IDR1.65trn (US$105.7m) in the January-September 2022 period, up 18.9 per cent from IDR1.39trn in the 9M21. In the cement division, sales reached IDR22.678trn while other revenues reached IDR7.506trn. The group’s revenue in the nine-month period reached IDR25.28trn, a minor decrease of 0.2 per cent when compared with IDR2...

Caribbean Cement Co reports 13% 3Q revenue increase

02 November 2022, Published under Cement News

Jamaica-based Caribbean Cement Co Ltd has posted robust 3Q22 results with revenues for the quarter increasing by 12.7 per cent to JMD6.2bn (US$40.3m) from JMD5.5bn in the 3Q21. Operating earnings were up to JMD1.9bn due to the reduction in the cost of sales as a share of net sales to 56 per cent from 80 per cent in the same period last year. This reduction was the result of the company’s d...

Najran Cement reports 50% drop in profit in 9M22

02 November 2022, Published under Cement News

Najran Cement has recorded revenue of SAR375.6m (US$100.2m) in the opening nine months of 2022, down 15 per cent compared to the SAR441.89m seen in the 9M21. Net profit after Zakat and tax declined by 50.26 per cent from SAR129.51m in the 9M21 to SAR64.42m in the same period a year later. Earnings per share in the 9M22 came in at SAR0.38 versus SAR0.76 in the same period a year earlier. In...

Tabuk Cement posts 21% rise in revenue in 9M22

02 November 2022, Published under Cement News

Tabuk Cement has posted a 20.6 per cent YoY increase in revenue in the first nine months of 2022. Revenue over the period has risen from SAR174.22m (US$46.5m) to SAR210.11m. However, net profit after Zakat and tax over the same timeframe has fallen by 80.7 per cent from SAR17.42m in 9M21 to SAR3.36m in the 9M22. According to the company, despite improved sales and higher average selling p...

Hail Cement sees net income tumble 113% in 9M22

02 November 2022, Published under Cement News

Hail Cement has posted revenue of SAR268.22m (US$71.5m) in the opening nine months of 2022, up 31.6 per cent compared to the SAR203.88m seen in the 9M21. However, net income fell by 112.5 per cent from SAR47.17m in the 9M21 to a loss of -SAR5.9m in the same period a year later. Earnings per share in the 9M22 came in at -SAR0.06 versus SAR0.48 in the same period a year earlier. According t...

Tanzania Portland Cement reports 9M profit up 6%

02 November 2022, Published under Cement News

Tanzanian cement producer Tanzania Portland Cement PLC has posted a six per cent increase in pretax profit in the first nine months of the year as domestic and export cement demand has surged. Pretax profit increased by six per cent YoY to TZS110.53bn (US$47.4m) in the 9M22 from TZS94.82bn in the year-ago period. The company’s cement revenue rose by nine per cent YoY to TZS358.3bn, but the ...

Holcim posts record 3Q performance

03 November 2022, Published under Cement News

Holcim reported record 3Q net sales of CHF8045m (US$8043.1m), up 10.4 per cent YoY and 16.3 per cent on a like-for-like (LfL) basis, from CHF7286m. Recurring EBIT edged 1.2 per cent (+7.7 per cent LfL) to CHF1551m in the 3Q22 from CHF1534m in the 3Q21. In the 9M22 group net sales increased 14.5 per cent (+13.9 per cent LfL) to CHF22,725m from CHF19,842m in the 9M21. Recurring EBITDA advanc...

Dangote sees revenue advance 15% YoY in 9M22

03 November 2022, Published under Cement News

Dangote Cement has reported group revenue of NGN1177.3bn (US$2.68bn) in the first nine months of 2022, up 15.2 per cent YoY. Group EBITDA over the same period advanced by 0.2 per cent to NGN515.9bn, with an EBITDA margin of 43.8 per cent. Profit after tax fell 23.4 per cent YoY to NGN213.1bn, mainly due to exchange losses from the depreciation in the CFA and cede. Group sales volumes in the ...

Lafarge Africa posts 23% rise in revenue in 9M22

01 November 2022, Published under Cement News

Nigeria-based Lafarge Africa has seen its net income expand by 11.2 per cent YoY to NGN44.9bn (US$102.1m) in the opening nine months of 2022. This compares to NGN40.39bn in the same period a year earlier, according to The Day Live. Revenue over the same period advanced by 23.1 per cent to NGN269.85bn, versus NGN219.2bn in the 9M21. Revenue from cement sales alone came in at NGN261.4bn dur...