Cement News tagged under: business results

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Pioneer Cement appoints new CEO, posted loss during 1HY19

03 March 2020, Published under Cement News

Pioneer Cement Ltd (PIOC) has announced its financial results for the half year ended 31 December  2019. It reported a loss after taxation of PKR111.66m (US$0.72m) compared to profit of PKR526.96m earned in corresponding period last year. The major factors for the loss were lesser revenue, fall in export of cement followed by paying of significant amount of federal excise duty. The company local sales slightly decreased by 2.8 per cent to PKR6.85bn from PKR7.05bn in the same period last yea...

Dangote Cameroon sees 7% sales drop in 2019

02 March 2020, Published under Cement News

Sales volumes of Dangote Cameroon fell 6.5 per cent YoY to 1.1Mt in 2019. Cement prices averaged at US$108/t in the financial year. "We had to deal with a drop in volumes due to security problems in the North West and South West region of the country as well as new competitor capacities. Overall, volumes were down 6.5 per cent in 2019 from 2018 due to increased competition in key markets, "said Dangote in its annual report. The company expects to improve its sales in 2020 due to the const...

Ciments du Maroc turnover falls in 2019

02 March 2020, Published under Cement News

The unaudited consolidated turnover of Ciments du Maroc slipped by 0.8 per cent YoY to MAD3.89bn (US$405.8m) in 2019 despite an improvement in the cement market. The fall was due to a decline in concrete sales, which offset the positive development of cement sales, said the company.

Tabuk Cement posts SAR24.2m profit in 2019

02 March 2020, Published under Cement News

Saudi-based Tabuk Cement Co has posted a net profit after zakat and tax of SAR24.2m (US$6.45m) in 2019, versus a loss of SAR98.9m in 2018. Sales in 2019 surged 59.8 per cent to SAR238.7m from SAR149.4m in the previous year on the back of increases in sales volumes and higher sales prices.

Flying Cement and Dandot Cement post losses during 1HY19

02 March 2020, Published under Cement News

Pakistani cement companies have been declaring losses or fall in profit during the last six months of ongoing fiscal year of 2019-20 on account of falling revenue, high cost of sales and financing charges. Flying Cement Co reported a loss after taxation of PKR293.4m (US$1.9m) during the half-year ended 31 December 2019 compared to profit of PKR77.7m earned in corresponding period last year. The key factor in the loss is the high cost of sales and reduced revenue during this period. Compan...

Misr Cement-Qena reports 84% profit drop in 2019

02 March 2020, Published under Cement News

Egypt-based Misr Cement (Qena) an 84 per cent YoY decline in consolidated net profits to EGP16.45m (US$1.05m) in 2019, compared with EGP104.39m in 2018, according to a statement to the Egyptian Exchange. Sales fell to EGP3.1226bn in 2019, down from EGP3.1229bn the previous year. Stand-alone net profits more than halved from EGP76.54m in 2018 to EGP35.24m in 2019.

Fecto Cement posts loss in 1HY19

02 March 2020, Published under Cement News

Fecto Cement Ltd has informed Pakistan Stock Exchange that it has posted a loss of PKR299m (US$1.48m) for the half year ended 31 December 2019 as compared to profit PKR105m, earned in the same period last year. The losses are attributed to a slide in net turnover, which decreased by 22.91 per cent to PKR1.91bn from PKR2.28bn in the same period last year. The company incurred a lesser administrative expenses and distribution costs of PKR121m and PKR62m against PKR143m and PKR102m, respectiv...

Cementos Molins reports 5% rise in net profit for 2019

28 February 2020, Published under Cement News

Cementos Molins posted a consolidated net profit of EUR90m in 2019, up five per cent YoY. EBITDA increased five per cent YoY to EUR49m. However, the depreciation of the Argentine peso and the hyperinflation in the Latin American country impacted the results. Excluding this, consolidated net profit growth would have been 16 per cent while EBITDA would have advanced by 13 per cent, said the company in a statement. The company achieved a turnover of EUR797m, reporting a four per cent YoY incr...

Cahya Mata Sarawak 4Q net profit down 90%

28 February 2020, Published under Cement News

Malaysia’s Cahya Mata Sarawak Bhd’s (CMS) net profit declined 90 per cent to MYR5.4m (US$1.28m) in the fourth quarter ended 31 December 2019, compared to MYR53.5m in the 4Q18. Profit before tax decreased 76 per cent YoY to MYR20.2m in the 4Q19 from MYR83.1m in the 4Q18. CMS revenue in the 4Q19 also fell eight per cent YoY to MYR456.5m from MYR496.8m reported in the 4Q18. The reduced performance was attributed to its cement, construction, road maintenance and property development business....

Power Cement reports loss due to revenue fall in 1HY19

28 February 2020, Published under Cement News

Power Cement Ltd has announced its financial results for the half year ended 31 December 2019. It reported a loss after taxation of PKR365m (US$2.366m) compared to a profit of PKR9.7m in the corresponding period last year. The major factors responsible were reduced earnings and higher expenses together with expensive financing during this accounting period. The financing cost increased to PKR207m from PKR77m during this accounting period. The company sales decreased by 38 per cent to PKR1.2...