Cement News tagged under: 2Q16

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Denmark: FLSmidth 2H16 revenues fall 19%

16 August 2016, Published under Cement News

FLSmidth's revenue decreased 19 per cent to DKK4135m (US$620.7m) in 2Q16 (2Q15: DKK5093m  or US$764.5m). The revenue improved sequentially from 1Q16 but was nevertheless lower than expected in 2Q16. The gross profit in 2Q16 decreased to DKK1078m from DKK1327m in 2Q15, corresponding to a gross margin of 26.1 per cent (2Q15: 26.1 per cent). The gross margin is still holding up despite pricing pressure and under-absorption due to the lower than anticipated revenue, says FLSmidth. Forei...

UAE: Fujairah Cement sees 48% drop in revenues

15 August 2016, Published under Cement News

Fujairah Cement Industries saw its revenues fall by 48 per cent to AED164.2m in 1H16 from AED315m in 1H15. The UAE-based company saw its profit for the period ended 30 June 2016 more than halve from AED33.3m to AED16.5m.

Jordan: Northern Cement 2Q16 profits drop

11 August 2016, Published under Cement News

Northern Cement Company have reported a 7.6 per cent decline in profits to JOD3.79m (US$5.4m) for the second quarter of 2016, compared to profits on JOD4.1m  seen in the same period last year. Profits for the first half of the year also fell, dropping 8.71 per cent YoY. Profits for the first half of 2016 were JOD6.8m compared to JOD7.4m in the first half of 2015.

Saudi Arabia: Eastern Province Cement Q2 profits fall 46%

28 July 2016, Published under Cement News

Eastern Province Cement Company’s net profits dropped 46.2 per cent YoY to SAR50m (US$13.3m) in 2Q16, compared to SAR93m (US$24m) in the same period in 2015.This decrease is attributed to lower operating profit, lower sales as local demand weakens and higher production costs. The company’s profits also fell 23 per cent in the first half of 2016 to SAR137m (US$36.5m) compared to profits of SAR178m (US$47.4m) in the first half of 2015.

Lafarge Africa in 2Q16

26 July 2016, Published under Cement News

Lafarge Africa Plc has released its financial results for 2Q16, reporting a total revenue of NGN107bn (US$344.9m). Cost of sales stood at NGN92.2bn (US$297.3m), down from NGN98bn (US$315.9m) in the same period last year and administrative/distribution and other expenses dropped to NGN12.2bn (US$39.3m) from NGN4bn (US$45.1m). The company’s revenue of NGN30.8bn (US$99.3m) fell by NGN28.5bn (US$91.9m) due to foreign exchange loss after the naira’s devaluation. The company also suffered diminish...

Peru: Cementos Pacasmayo 2Q16 revenues up 9%

22 July 2016, Published under Cement News

Cementos Pacasmayo SAA has announced its consolidated results for the 2Q16, stating that volumes of cement, concrete and blocks rose 4.8 per cent during the period and revenues increased 9.1 per cent to PEN301.7m (US$90.6m). Consolidated EBITDA of PEN93.1m (US$27.9m) was up 15.7 per cent, excluding PEN8.8m non-operating income booked in 2Q15. However, when including this income, EBITDA was up 4.3 per cent. Net income of PEN31.3m was down 18.9 per cent excluding non-operating income booked...