Cement News tagged under: Production costs

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Bamburi posts first-half pretax profit drop

08 August 2014, Published under Cement News

Bamburi Cement posted a 28 per cent drop in first-half pretax profit to KES2.3bn (US$26.2m) from KES3.2bn a year earlier. The Lafarge group company attributed the decline to rising power costs, increased use of imported clinker and the introduction of a mining levy in Kenya. Operating profit fell 27 per cent to KES2.2bn compared KES3bn in the comparative period of 2013. However, turnover rose 9.5 per cent as a result of higher sales volumes in the first half of the year both to domestic ma...

Trinidad Cement Ltd increases prices

02 July 2014, Published under Cement News

Trinidad Cement Ltd (TCL) has increased its prices as of 1 July 2014 to help counter increases in production costs. The company stated: “TCL Premium Plus, which accounts for 95 per cent of local market share, will be adjusted by nine per cent, which is equal to a five cent increase per pound from US$.53 to $.58 VAT inclusive. Ordinary Portland Cement (OPC), which is used by approximately five per cent  of the market, will move by 15 per cent.” TCL added: “These price movements have resul...

Asia Cement (China) earnings surge

30 April 2014, Published under Cement News

Asia Cement (China) said its profit attributable to owners for the first three months of 2014 was 13.73 times higher YoY at CNY127.7m (US$20.4m). Revenue rose to CNY1.6bn, an increase of 20.6 per cent from a year earlier. The leap in the group’s earnings for the period was mainly attributable to an increase in average selling prices and a decrease in cost of coal over the same period last year, the company said in a statement. During the period the group sold 5.29Mt of cement and clinker,...

UltraTech Cement quarterly profit rises 15% YoY

24 April 2014, Published under Cement News

UltraTech Cement reported a 15 per cent rise in net profit of INR8.4bn (US$138m) for the first quarter of the year on cost control initiatives. The company said it saw continuing pressure on input and logistic costs due to the increase in railway freight and a continuous hike in diesel prices. Although there was some relief on account of softening prices of imported coal, the impact was negated by the depreciation of the Indian rupee. However, optimisation of its fuel mix and other initiat...

Siam City double-digit rise in earnings and sales

23 April 2014, Published under Cement News

Siam City Cement Co (SCCC) reported a double-digit rise in earnings and sales during the first quarter of 2014, as higher cement prices and increased exports help offset declines in its domestic market of Thailand. SCCC said yesterday to the Stock Exchange of Thailand that earnings rose 56 per cent YoY to THB1.9bn as net sales rose 14 per cent to THB8.65bn. Thailand’s second-largest cement producer attributed the rise in revenue to higher average selling prices and a rise in exports despit...

China Resources Cement sees strong growth in attributable profit

15 April 2014, Published under Cement News

China Resources Cement (CRC) has said it expects profit attributable to shareholders for the quarter ending 31 March 2014 to be significantly higher compared to the corresponding period of 2013. The improvement is mainly attributed to higher average selling prices (ASP) of cement and clinker as well as reduced coal costs compared to 1Q13. The company’s quarterly results announcement will be issued at the end of April. Macquarie Research has slightly lifted its target price for the compa...

Lafarge Republic boosted by robust demand

01 April 2014, Published under Cement News

Lafarge Republic Inc (LRI) reported a 30 per cent rise in net profit last year to PHP3.7bn (US$82.6m) on the back of robust demand from government as well as private commercial sector projects. Revenue increased by 16 per cent to PHP23bn with the company attributed to increased cement demand as well as sales and marketing initiatives. Cost of sales increased mainly due to higher prices for power and raw materials. LRI said it was able to moderate the increase by utilising coal in its ki...

Pakistan cement sector growth rises 5.2% in FY13

20 January 2014, Published under Cement News

Pakistan’s central bank reported growth in the domestic cement sector in FY13 of 5.2 per cent compared to 2.9 per cent the year before. The annual report released last week by the State Bank of Pakistan shows that total growth in large-scale manufacturing recovered from just 1.1 per cent in FY12 to 4.4 per cent in FY13 – the highest rate in the past five years. Officials attributed the growth in the cement and construction industry to stability in building materials prices, a higher all...

Pakistan production costs set to increase

10 January 2014, Published under Cement News

Pakistan cement producers fear further production costs increases after the Gas Infrastructure Development Cess (GIDC) has been increased from PKR50/mmbtu to PKR100. This will push up costs for those producers with gas-fed captive power plants, such as Lucky Cement, DG Khan Cement and Maple Leaf Cement Company. The Pakistan Tribune quoted Farhan Mehmood of Sherman Securities as saying that the increase could  lead to an increase of cement prices by PKR10-12/bag. The tax was initially...

EACPA opposes proposals to hike Tanzanian power tariffs

26 November 2013, Published under Cement News

The East African Cement Producers' Association (EACPA) has objected to proposals by the Tanzania Electric Supply Company (Tanesco) to raise power tariffs by 68 per cent due to the significant knock-on effect it will have on cement production costs. According to reports by The Citizen, the association has claimed that its member are already significantly impacted by costs related to power rationing, adding that cement producers recorded 1782 power rationing cases between 2012-13. A st...