Cement News tagged under: business results

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Oman Cement Co sees 27% fall in profit

25 June 2020, Published under Cement News

Oman Cement Co has posted a 26.7 per cent fall in profit after tax to OMR1.1m (US$2.86m) for the first quarter of 2020, compared to OMR1.5m in the 1Q19. The company’s total sales saw a modest 1.5 per cent YoY decline to OMR13.6m from OMR13.4m.

Vicat sees improved activity in May

24 June 2020, Published under Cement News

France-based cement producer Vicat has provided an update of business levels in May, noting a marked improvement when compared with market performance in March and April. In France business activity has been improving steadily since the low point of mid-March and by the end of May, the level was slightly lower than that recorded in the year-ago period. Switzerland also continues to perform well. The challenging macroeconomic and competitive environment in Turkey and Egypt continue to aff...

PT Semen Indonesia to pay IDR239bn dividend

23 June 2020, Published under Cement News

PT Semen Indonesia Tbk (SMGR) will pay a dividend of IDR239bn (US$16.9m) or 10 per cent of SMGR's net profit in 2019 which reached IDR2.39trn, down 22.3 per cent YoY. Per share, the dividend amounts to IDR9500, representing a yield of 0.42 per cent. "The remaining 90 per cent will be used for other reserves," explained the company’s Director of Marketing and Supply Chain, Adi Munandir, during the annual general meeting of shareholders (AGM) in Jakarta on 19 June. Mr Munandir added that th...

Ramco Cements posts 18% profit increase in FY19-20

22 June 2020, Published under Cement News

India’s Ramco Cements recorded a 13.2 per cent YoY decline in consolidated net profit to INR1.43bn (US$18.8m) during the 4QFY19-20, compared with INR1.65bn in the year-ago period. Consolidated revenue also fell 9.2 per cent YoY to INR14.04bn from INR15.46bn. However, the company posted an 18.4 per cent rise in net profit to INR6.02bn for the full FY19-20 period, against INR5.11bn in the previous fiscal. Revenue advanced 4.5 per cent YoY to INR54.23bn from Rs51.87bn. In FY19-20, cement ...

Mangalam Cement sees net sales rise 3% in FY19-20

18 June 2020, Published under Cement News

India’s Mangalam Cement has reported net sales of INR3.04bn (US$39.79m) in the quarter ending 31 March 2020, a 7.9 per cent YoY decline compared to INR3.3bn in the 4QFY18-19. However, net profit surged to INR155.1m from INR16.7m. In the full FY19-20, total income advanced 2.8 per cent YoY to INR12.58bn from INR12.23bn in the previous fiscal year. The company also posted a net profit of INR759m against a net loss of INR97.3 in the FY18-19.

JK Cement reports 4Q results and receives approval to raise INR2.5bn

18 June 2020, Published under Cement News

India’s JK Cement has reported a 99.9 per cent decline in net profit to INR2.3m (US$30,194) in the final quarter of FY19-20, compared with INR1.5bn in the year-ago period. Net revenue edged up to INR14.78bn from INR104.71bn in the 4QFY18-19. Operating expenses dropped 6.7 per cent YoY to INR11.31bn from INR12.12bn. The company has also received approval to raise funds through the issuance of secured non-convertible debentures in one or more tranches for an amount up to INR2.50bn, within t...

YTL Corp records 11% revenue increase

17 June 2020, Published under Cement News

Malaysia’s YTL Corp has reported a 65.6 per cent decline in net profit to MYR29.52m (US$6.9m) in the third quarter ending 31 March, compared to MYR85.79m in the year-ago period. However, the group’s revenue advanced 11.6 per cent YoY to MYR4.81bn from MYR4.31bn. For the nine-month period until March 2020, YTL Corp saw a 75.7 per cent YoY fall in net profit to MYR62.37m from MYR256.40m in the previous fiscal, while revenue increased 20.8 per cent YoY to MYR15.64bn from MYR12.95bn. The hi...

JSW Cement delays expansion and listing plans

16 June 2020, Published under Cement News

India’s JSW Cement has deferred its expansion plans by around 6-12 months and further delayed its listing on the bourses. The company’s plans would have seen it reach 25Mta of capacity by 2023. "As a result of the current economic situation, our expansion plans are being deferred by six to 12 months. But these will happen for sure," said Nilesh Narwekar, CEO of JSW Cement. "As of now, we do not need to raise capital and the current economic situation is also not conducive. We want to h...

Sinai Cement sees net losses widen in 1Q20

16 June 2020, Published under Cement News

Egypt’s Sinai Cement saw its net losses widen 35 per cent YoY to EGP105.44m (US$6.5m) in the first quarter of 2020, compared to a loss of EGP78.16m in the corresponding period of last year. However, the company’s net sales increased 5.3 per cent YoY to EGP211.73m from EGP201.08m in the 1Q19.

Dalmia Bharat posts 4Q net profit of INR240m

16 June 2020, Published under Cement News

Dalmia Bharat reported a consolidated net profit of INR240m (US$3.2m) for the fourth quarter ended 31 March 2020. The company posted a net profit of INR2.63bn in the January-March quarter of the previous financial year, the company said in a regulatory filing. However, it cautioned against comparison of the latest results with the previous period as it has shifted to AS 116 standards from 1 April 2019. Dalmia Bharat’s revenues from operations was INR24.93bn in the 4QFY19-20, down from IN...