Cement News tagged: Corporate
Taiheiyo Cement sees 2% advance in net profit for 1HFY18
Taiheiyo Cement has reported a four per cent increase in revenue to JPY438.7bn (US$3.86bn) in the first half of FY18, ended 30 September 2018. In 1HFY17 the company saw a revenue of JPY421.94bn. Operating profit slipped to JPY27.38bn in 1HFY18 from JPY27.43bn in 1HFY17 while pretax profit fell to JPY27.11bn from JPY28.07bn in the year-ago period. Net profit edged up 2.4 per cent from JPY16.93...
Flying Cement make two director changes
Pakistan-based Flying Cement Co Ltd in Pakistan has appointed two new directors, Nadeem Tufail and Waqar Zahid. They replace Imran Chaudry and Muhammad Tawassal Majeed, respectively, from 31 October. As a result, the company's new Board of Directors now comprises: Agha Humayun Khan as Chief Executive and seven directors, ie Kamran Khan, Momin Qamar, Yousuf Kamran Khan, Qasim Khan, Samina Ka...
Vicat hit by weaker exchange rates
Vicat's turnover for the first nine months of the year advanced by 1.4 per cent to EUR1947m, which represents an underlying improvement of 7.6 per cent. The gearing level was reduced from 38.1 per cent at the end of September last year to 37.1 per cent this time. Turnover in cement was 1.8 per cent ahead at EUR1124m and represented 51 per cent of the group total. Cement deliveries improved by ...
FLSmidth reports 71% order increase in 3Q18
FLSmidth has released its interim 3Q18 report and recorded a 71 per cent order increase to DKK7.164bn (US$1.102bn), on the back of two large cement plant orders in Central America at a combined value of DKK1.9bn. This brought the order backlog to DKK17.2bn, the highest level in three years. "It makes us proud each time a customer selects us to deliver and install mission critical equipment o...
Martin Marietta Materials reports double-digit 3Q growth
Martin Marietta Materials’ nine-month turnover improved by 7.6 per cent to US$3224m and increased turnover by 12.1 per cent to US$1219.6m in the third quarter of 2018. EBITDA advanced by 15.1 per cent to US$349m. The trading profit only improved by six per cent to US$240.7m, the net attributable profit rose by 18.9 per cent to US$180.2m. The aggregates turnover increased by 9.8 per cent to ...
Dandot Cement's losses depend in FY08
Dandot Cement Company Ltd (DCCL) of Pakistan announced its financial results for the year ended 30 June 2018, declaring a net loss of PKR751.45m (US$5.62m) up by 42.4 per cent YoY, as compared to loss of PKR527.68m reported in the same period last year. DCCL's net sales decreased by 27.7 per cent to PKR1.3bn YoY, as compared to PKR1.8bn in the same period last year. The company incurred l...
Cementos Yura sees 30% 3Q net profit fall
Peru-based Cementos Yura saw its net profit fall by 30 per cent YoY to PEN52m (US$15.4m) in the third quarter of 2018. The company has attributed the slide to a lower gross profit as the cost of sales increased 14 per cent YoY to PEN146m due to higher clinker production costs. Sales increased to PEN261m with domestic shipments up four per cent due to higher demand for the Yura and Frontera b...
Sagar Cements reports 40% production increase
India’s Sagar Cements has reported that its consolidated production has increased by 40.1 per cent YoY to 273,216Mt for October 2018, compared to 195,066Mt in October 2017. Furthermore, the company’s consolidated sales for the month rose by 43.73 per cent YoY to 279,554Mt from 194,500Mt.
RCCPL announces grinding plant expansion
India's Birla Corp has announced that it plans to carry out the second phase of expansion at the grinding plant of its RCCPL subsidiary in Kundanganj, Uttar Pradesh. The project includes the installation of a 1.2Mta third line, increasing total plant capacity to 3.2Mta. The plans are expected to be completed in the FY20-21 at an investment cost of INR2.5bn (US$34.23m).
Sharjah Cement records decreasing sales
UAE-based Sharjah Cement has announced an 82.3 per cent fall in net profit for the 3Q18, dropping to AED2.2m (US$599,046) from AED12.4m a year ago. The company has attributed the results to a decline in income from investments and sales. Sales decreased 9.9 per cent to AED131.3m from AED145.7m in the 3Q17. In the first nine months of 2018, Sharjah’s profit was down 67 per cent at AED14.3m co...
Saudi producers face declining results in 3Q18
Saudi's Arabian Cement has posted a 51.2 per cent YoY decline in net profit during the 3Q18, falling from SAR29.5m (US$7.86m) to SAR14.4m. Furthermore, sales decreased 27.7 per cent to SAR117.9m from SAR163m. Elsewhere, Umm Al Qura Cement has recorded a net loss of SAR3.9m for the third quarter, compared to a profit of SAR5.1m in the year-ago period. Sales dropped 23.6 per cent YoY to SAR33.7...
Qassim Cement reports 89% fall in net profit
Saudi Arabia's Qassim Cement has seen an 88.9 per cent YoY fall in its net profit during the third quarter of 2018, decreasing to SAR5.68m (US$1.514m) from SAR51.24m. The profit has been attributed to a drop in the volume and value of sales after a declining demand. Revenue in the 3Q18 fell 43 per cent to SAR74.36m from SAR130.74m of the corresponding period a year ago. During the first nin...
Penna Cement files for an IPO for expansion plans
Penna Cement has filed for a INR15,500m (US$212.2m) initial public offering (IPO) with the markets regulator Sebi to raise funds for expansion and paying off debt. Penna Cement's CEO, Vikram Reddy said Penna Cement has an expansion plan that includes a mix of brownfield and greenfield plants that will raise the company's cement capacity to 16.5Mta by 2020. The IPO will consist of a fresh iss...
RHI Magnesita held back by Chinese market in 3Q18
RHI Magnesita's 3Q18 results reported that the company's cement and lime segment continues to be held back by reduced cement production in the Chinese market and the company's ongoing focus on pricing and quality, against more commoditised competitors. However, CEO Stefan Borgas said: "The solid results in third quarter reflect a continuation of the positive trends we saw in the first half, ...
Udaipur Cement reports sales increase in 3Q18
India's Udaipur Cement Works has reported a contracting net loss in the 3Q18 at INR139m (US$1.903m), compared to a loss of INR234.9m in the year-ago period. Furthermore, sales increased 43.8 per cent YoY to INR1.15bn from INR800m.
Calicom Industries acquires majority stake in Dandot Cement
Pakistan-based Calicom Industries has agreed to acquire a majority stake in Dandot Cement Co Ltd (DDCL). Under the terms of the transaction, Calicom Industries will acquire control of DDCL and 63,542,787 voting shares, representing 67 per cent of paid up capital.