Cement News tagged under: business results

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Sagar Cements sees 17% fall in revenue

03 June 2020, Published under Cement News

India’s Sagar Cements has reported a 94 per cent decline in consolidated net profit to INR11.8m (US$156,598) in the final quarter of FY19-20, compared to INR187.5m in the corresponding period of the previous fiscal. Revenue from operations fell 17 per cent to INR3.04bn from INR3.66bn in the 4QFY18-19. The results have been attributed to the impacts of the COVID-19 pandemic, which also affected logistics and labour movement, according to the company.  

Flying Cement reports 96% fall in sales

02 June 2020, Published under Cement News

Pakistan’s Flying Cement Co saw a 95.9 per cent fall in sales to PKR35.62m (US$217,705) in the January-March period of 2020, compared to PKR858.47m in the year-ago period. The company also reported a net loss of PKR110.7m against a net profit of PKR64m in the corresponding period of the previous fiscal. In the first nine months of FY19-20, sales declined 63.6 per cent YoY to PKR964.6m from PKR2.65bn. The company’s net loss also widened to PKR14.87m from PKR48.68m in the FY18-19.

Ras Al Khaimah slips into the red in 1Q

01 June 2020, Published under Cement News

In its unaudited first-quarter results, Ras Al Khaimah Cement Co reported a 26 per cent drop in sales to AED36.838m (US$10.031m) in the first quarter of 2020 ended 31 March when compared with the equivalent period of the previous year, when sales reached AED49.774m. The company posted a gross loss of AED3.808m, against a gross profit of AED4.241m in the 1Q19 while net loss reached AED8.01m. In the 1Q19 Ras Al Khaimah Cement achieved a net profit of AED2.162m.

Dangote Cement sees sales slow in 1Q20

29 May 2020, Published under Cement News

This week Dangote Group reported its 1Q20 results, which saw group sales volumes decline by 0.6 per cent with the onset of the coronavirus in March. ICR now looks deeper at the regional breakdown of the company’s results. The domestic Nigerian market saw temporary restrictions imposed only in the last week of for the COVID-19 outbreak and therefore,  cement volumes were not much affected in the 1Q20.  However, sales volumes in April were trending lower. Still, Dangote estimates consumption ...

Prism Johnson sees 61% fall in net profit

29 May 2020, Published under Cement News

India’s Prism Johnson Ltd, formerly known as Prism Cement, has reported a 61 per cent fall in standalone net profit to INR564.5m (US$7.47m) in the FY19-20, compared with INR1.46bn in the previous fiscal year. EBITDA was also down six per cent YoY to INR5.22bn from INR5.55bn. Cement volumes contracted by three per cent during the FY19-20, due to the country entering lockdown in March. Otherwise, cement volumes were expected to increase since they were up a modest one per cent YoY for the fi...

Tokyo Cement Co (Lanka) Plc sees 23% fall in turnover in 4QFY20

27 May 2020, Published under Cement News

Tokyo Cement Co (Lanka) PLC said the group recorded LKR8.4bn (US$45.1m) turnover for the 4QFY20, which represents a 23 per cent reduction when compared to 4QFY19. The company recorded LKR4.9bn turnover for the 4Q20, which is 36 per cent reduction when compared to 4QFY19. The company has ensured production, distribution, and sales of products and services across the island with limited stoppages during the COVID-19 pandemic. However, retail and construction sites within the Western provinc...

Dangote Cement sees 2% advance in 1Q EBITDA

26 May 2020, Published under Cement News

Dangote Cement Plc reported a 3.8 per cent YoY increase in group revenue to NGN249.2bn (US$638.2m) for the first quarter of 2020 in its unaudited results for the three months ended 31 March 2020. Group EBITDA edged up 2.2 per cent to NGN114.2bn with an EBITDA margin of 45.8 per cent during this period. Pan-African EBITDA surged 23.4 per cent YoY to NGN14.6bn in the 1Q20, reflecting a 20.9 per cent margin. Profit before tax advanced 11.5 per cent YoY to NGN88.1bn. The company’s net debt stood...

Birla Corp posts 52% rise in net profit

26 May 2020, Published under Cement News

India’s Birla Corp has posted a 52 per cent YoY surge in net profit to INR1.95bn (US$25.76m) in the quarter ending 31 March 2020, while total income was down 9.4 per cent to INR17.18bn. Capacity utilisation during the 4QFY19-20 declined to 93 per cent from 98 per cent, on the back of a 13 per cent YoY drop in sales volumes to 3.3Mt. In the FY19-20 net profit advanced 98 per cent YoY to INR5.05bn. Orient Cement Birla Corp subsidiary, Orient Cement, recorded a 29 per cent YoY decline in...

Al Jouf Cement sees 4% rise in revenue for 1Q20

26 May 2020, Published under Cement News

Saudi Arabia’s Al Jouf Cement has seen a 3.5 per cent YoY increase in revenue to SAR58.8m (US$15.68m) in the first quarter of 2020, compared to SAR56.85m in the year-ago period. Net profit has also surged to SAR15.21m from SAR1.49m in the 1Q19.

Votorantim Cimentos sees net revenue up 9% in 1Q20

22 May 2020, Published under Cement News

Votorantim Cimentos' financial statement for the period ended 31 March 2020 reported net revenue up nine per cent to BRL2747m (US$494.6m) from BRL2524m in the 1Q19, while adjusted EBITDA fell to BRL232m from BRL586m in the 1Q19. Group cement volumes declined slightly to 6.3Mt from 6.4Mt in the year-ago period. Net revenues in Brazil in 1Q20 rose to BRL1563m from BRL1536m in 1Q19. Positive market dynamics were seen before the outbreak of COVID-19 in March. However, the expansion project at ...