Cement News tagged: Corporate

Lesser sales hit profit of Kohat Cement in 1HFY19-20

27 February 2020, Published under Cement News

Kohat Cement Co Ltd (KOHC) has reported a YoY drop of 93.6 per cent in profit for the half year ended 31 December 2019. It reported a profit after tax of PKR97m (US$0.62m) compared to PKR1.526bn in the corresponding period last year. The fall in profit is attributed to a decrease in sales, which fell by 28.2 per cent to PKR6.021bn during this period from PKR8.391bn in the year-ago period. I...

Bangladesh's Meghna Group receives HSBC award

27 February 2020, Published under Cement News

Meghna Group of Industries, the parent company of Unique Cement Industries Ltd in Bangladesh, has received the first HSBC Business Excellence Award for its special achievements and significant contribution to the country's socio-economic growth.   The award was received by Mostafa Kamal, chairman and managing director of Meghna Group of Industries, and former president of the Bangladesh Cement...

San Luis rotary kiln burner ignited

27 February 2020, Published under Cement News

On 21 February 2020  the main burner of the rotary kiln in the Lindos project for Cementos Avellaneda at San Luis, Argentina, was successfully ignited. SINOMA-TCDRI  was the contractor for the project. The successful ignition marks the start of the trial production and performance test phase from the installation and commissioning stage.

Boral posts lower 1H earnings

28 February 2020, Published under Cement News

Boral Ltd reported a statutory net profit after tax (NPAT) of AUD137m (US$90m) for the half-year ended 31 December 2019, after significant items of AUD20m. The half-year results reflects lower 1H earnings from Boral Australia and USG Boral due to cyclical declines in Australian and South Korean housing markets, partially offset by improvement initiatives. Volume pressures and higher costs also...

Qatar National Cement Co to diversify product range to meet infrastructure demands

Qatar National Cement Co to diversify product range to meet infrastructure demands

26 February 2020, Published under Cement News

Qatar National Cement Co (QNCC) has reaffirmed its support to the country's infrastructure development, adding that it will diversify its product range by adding new products to meet the growing local demand. QNCC Chairman, Salem bin Butti al-Naimi, said the company must increase efforts to "diversify the production by adding new types of cement to meet the demand of local market and utilise ...

Najran Cement reports SAR53.5m profit in 2019

26 February 2020, Published under Cement News

Saudi Arabia’s Najran Cement Co has reported a net profit of SAR53.5m (US$14.27m) in 2019, a significant improvement upon the SAR83.5m net loss in the previous year. Sales also advanced 49.6 per cent YoY to SAR416.4m from SAR278.4m in 2018, on the back of an increase in sales volumes and prices.

Maple Leaf Cement posts loss despite increasing sales during 6MFY19-20

Maple Leaf Cement posts loss despite increasing sales during 6MFY19-20

26 February 2020, Published under Cement News

Pakistan-based Maple Leaf Cement Factory Ltd (MLCF) has announced its consolidated financial results for the half year ended 31 December 2019. It incurred a net loss of PKR1.76bn (US$11.41m) as compared to profit of PKR1.33bn earned in the same period last year. This shows YoY losses at 32.5 per cent. The major factors responsible for this fall were the increase in cost of sales and the huge f...

Cementos Argos sees 11% rise in revenue for 2019

27 February 2020, Published under Cement News

Colombia’s Cementos Argos saw a 11.4 per cent YoY rise in consolidated revenue to COP9.3trn (US$2.71bn) in 2019. EBITDA increased 14.3 per cent YoY to COP1.75trn, while its operating income advanced 1.7 per cent to over COP838bn. However, the company's net profit declined 31.7 per cent to COP122bn from COP179bn in 2018. The fall was attributed to a US$9m US tax provision relating to its succe...

Thatta Cement's profits slip in 1HY19-20

25 February 2020, Published under Cement News

Pakistan's Thatta Cement Company Ltd (THCCL) has announced its consolidated financial results for the half year ended 31 December 2019. It posted a profit of PKR116m (US$0.75m), representing a 61.4 per cent fall YoY, as compared to PKR300m earned in the same period last year.  The major factor responsible for this drop were lower sales and increased finance costs. THCCL's net sales during th...

Gharibwal Cement posts loss in 1HY19

25 February 2020, Published under Cement News

Gharibwal Cement Ltd (GWLC) of Pakistan has announced its financial results for the half year ended 31 December 2019. GWLC incurred a net loss of PKR245m (US$1.58m) as compared to a profit of PKR593m earned in the same period last year. The drop was attributed to the increase in cost of sales, selling and distribution expenses as well as a higher finance cost in the July-December 2019 period...

Dewan Cement profit succumbs to fall in sales in 1HY19-20

25 February 2020, Published under Cement News

Dewan Cement Ltd (DCL) of Pakistan has announced its financial results for the half year ended 31 December 2019. It incurred a net loss of PKR172m (US$1.15m) as compared to profit of PKR328m earned in the same period last year. The losses can be attributed to a drastic fall in net sales and a modest increase in distribution cost and administrative expenses. The company's sales also decreased ...

ACC and Ambuja Cement announce new MDs & CEOs

27 February 2020, Published under Cement News

ACC (LafargeHolcim group) has appointed Sridhar Balakrishnan as its new managing director and chief executive officer for five years effective from 21 February 2020. Mr Balakrishnan will be taking over the position from Neeraj Akhoury, who has resigned with effect from close of business hours of 20 February 2020. Mr Akhoury will take over the role of MD and CEO of Ambuja Cements from 21 Febru...

Kuwait Portland Cement records 26% decline in profit

24 February 2020, Published under Cement News

Kuwait Portland Cement has announced a 26.4 per cent YoY decrease in 2019 profit to KWD7.59m (US$24.88m), compared with KWD10.32m a year earlier. Operating revenue also declined 19.5 per cent to KWD85.23m from KWD105.94m in 2018. In the 4Q19, the company saw net profit dip 43.6 per cent YoY to KWD1.41m from KWD2.5m in the year-ago period.

GCC reports record 4Q19 US net sales

21 February 2020, Published under Cement News

Grupo de Cemento de Chihuahua (GCC), the Mexican cement producer that serves cement and concrete markets in USA, Mexico and Canada had 4Q19 consolidated net sales increased 11 per cent to US$228.6m, while EBITDA increased by 49.6 per cent to US$86.4m in 4Q19. GCC's consolidated net sales in 2019 increased by 5.8 per cent to US$934.1m. EBITDA increased 13.9 per cent to US$ 292m. During 2019 ...

Ambuja Cement sees revenue up 6% in the 4Q19

21 February 2020, Published under Cement News

India’s Ambuja Cement (LafargeHolcim) has reported a 47.6 per cent YoY decline in consolidated net profit to INR7.22bn (US$100.4m) for the December 2019 quarter, against INR13.78bn in the year-ago period. Revenue from operations was up six per cent YoY to INR71.26bn from INR67.29bn. The company also saw stand-alone sales volumes advance 6.7 per cent YoY to 6.54Mt in the 4Q19. "Ambuja con...

Fauji Cement reports shrinkage in profit for 1HY19

21 February 2020, Published under Cement News

Cement players in Pakistan continue to report losses due to increase in cost of sales and finance charges during first half of the current financial year 2019-20. Fauji Cement continued this trend reporting financial losses today. Fauji Cement Co Ltd (FCCL) announced its financial results for the half year ended 31 December 2019 with a net profit of PKR482.18m (US$3.13m), which decreased by 7...