Cement News tagged under: business results
Yanbu Cement 3Q profit slips01 November 2018, Published under Cement NewsYanbu Cement posted 3Q revenues of SAR153m (US$40.8m), down 11.6 per cent YoY when compared with SAR173m reported in 3Q17. The Saudi cement producer’s net profit (after zakat and tax) edged down from SAR18m in 3Q17 to SAR17m in 3Q18. |
Southern Province Cement's net profits fall to SAR3.5m in 3Q1801 November 2018, Published under Cement NewsSouthern Province Cement (SPC) reported a net profit of SAR5.3m (US$1.41m) in 3Q18, down 65 per cent QoQ and down 91 per cent YoY. "...with the current economic situation, low construction activities and high competition we don’t believe prices are going up in the near term," Al Rajhi added. In terms of sales, 4Q18 should witness a slight increase in profits for SPC as there are no holiday breaks, reported the Argraam news site. |
1QFY19 remains gloomy for cement industry in Pakistan01 November 2018, Published under Cement NewsPakistan's cement sector net earnings have dropped by 38 per cent YoY to PKR8.224bn (US$62m) in 1QFY19 on the back of a number of factors, including a surge in international coal prices (12 per cent YoY), the devaluation of the Pakistani rupee against the US dollar (18 per cent YoY) and higher fixed costs (depreciation and financial cost) on the account of plant expansion. This observation was made by market analysts at Karachi-based Spectrum Securities Ltd following their evaluati... |
Flying Cement 1QFY19 profits rise by 43%31 October 2018, Published under Cement NewsPakistan's Flying Cement Co Ltd (FCCL) announced its financial results for the 1QFY19 on 30 October. It posted an increase in profit to PKR3.02m (US$22,682), up by 42.62 per cent YoY, as compared to PKR2.12m reported in the same period last year. The increase in profit was possible due to a surge in quarterly sales, which rose by 56.5 per cent YoY to PKR850m from PKR543m reported during the same period last year. FCCL incurred lower administrative expenses of PKR10.77m and higher distri... |
Caribbean Cement's debt repayments hurt 3Q18 results31 October 2018, Published under Cement NewsCaribbean Cement has blamed finance costs linked to debt owed to Cemex as well as volatile currency movements for its lower profits in 3Q18. The company's 3Q18 sales amounted to JMD4.5bn (US$33.5m) up seven per cent YoY, but profits fell to JMD305m at the end of September 2018, down from JMD748m a year ago. "The reduction in profit before taxation compared to the same period in 2017 was impacted by foreign exchange losses of JMD464m and interest payments of JMD227m. Both are related to t... |
PT Indocement30 October 2018, Published under Cement NewsIn the opening nine months of 2018, Indocement has seen its sales volume advance by up to six per cent YoY to more than 13Mt. This compares to domestic cement demand growth in Indonesia of just 4.9 per cent over the same period. The company saw sales reach 1.7Mt in September alone this year, compared to 1.6Mt in the same month last year, marking an improvement of 6.25 per cent. Indocement expects sales to continue to advance at the same rate, reaching a total of around 17Mt for 2018 as a who... |
Dangote Cement30 October 2018, Published under Cement NewsDangote Cement saw its cement sales volume improve 7.6 per cent YoY to 17.8Mt in 9M18. Over the same period, group revenue advanced by 13.5 per cent to NGN685.29bn (US$1.88bn), while net profit rose by 2.7 per cent to NGN158.28bn. Group EBITDA increased by 14.6 per cent to NGN337.3bn, while EBITDA margins grew from 48.8 to 49.2 per cent. In Nigeria the company saw sales volumes improve 11.7 per cent to 10.8Mt in 9M18 as cement demand in the country reported an uptick of 9.6 per cent YoY t... |
UltraTech30 October 2018, Published under Cement NewsShares in UltraTech Cement hit a 52-week low in late October following the announcement that the company has seen its consolidated net profit fall by 11 per cent YoY in 2QFY19. Net profit for the three-month period came in at INR3.76bn (US$51.29m), below analyst expectations. There was some good news as net sales advanced by 20 per cent YoY to INR81.11bn, but again this was lower than forecast. Meanwhile, the 23 per cent YoY increase in cement volumes predicted by analysts came in at just 21... |
Cementos Pacasmayo net income drops 14% in 3Q1830 October 2018, Published under Cement NewsCementos Pacasmayo saw its revenues fall by 4.4 per cent to PEN318.8m (US$95.2m) in 3Q18, mainly due to change in mix of products sold and to a slight decrease in prices. It also reported a 1.9 per cent rise in sales volumes of cement, concrete and precasts to 610,800t, mainly due to a recovery in the self-construction segment as well as increased sales to small and medium-sized projects. Net income declined 13.5 per cent YoY to PEN33.4m as operating income fell as a result of higher coa... |
Gharibwal Cement's 1QFY18 profits fall to PKR269m30 October 2018, Published under Cement NewsGharibwal Cement Ltd (GCL) announced its financial results for the 1QFY19 on 29 October. It posted a decline in profit to PKR269m (US$20,194), down by 10.6 per cent YoY, as compared to PKR301m reported in the same period last year. GCL's sales during the quarter decreased by 7.9 per cent YoY to PKR2.47bn from PKR2.69bn reported during the same period last year. The company incurred lower administrative expenses of PKR98m and higher distribution costs of PKR9.3m compared to PKR99m ... |