Cement News tagged under: business results
Eagle Cement records 3% net profit increase04 May 2018, Published under Cement NewsPhilippines-based Eagle Cement Corp has recorded a three per cent YoY increase in net profit to PHP1.1bn (US$21.29m) for the first quarter of the year. Revenue has risen six per cent YoY to PHP4bn in the same period, according to The Philippine Inquirer. Eagle Cement attributed the performance to "long standing cost-effective and efficient production grounded on owning the country’s most-modern end-to-end cement manufacturing plant." "We remain confident about the future as private consum... |
Orient Cement announces 4% revenue increase04 May 2018, Published under Cement NewsIndia's Orient Cement (OCL) has announced a 3.9 per cent YoY increase in revenue for the final quarter of FY18, rising to INR6.2bn (US$92.79m) from INR5.97bn. However, this was below estimates of 15 per cent YoY growth, according to an IIFL report. Net profit fell 22.5 per cent to INR128m, compared to INR165m of the year-ago period. The results have been partially attributed to weak demand in the southern market, which resulted in a capacity utilisation rate of below 85 per cent. Furthermo... |
Umm Al Qura Cement announces fall in net profit03 May 2018, Published under Cement NewsSaudi Arabia’s Umm Al Qura Cement Co has announced a 40 per cent YoY fall in net profit for the first quarter of 2018, decreasing to SAR10.2m (US$2.72m) from SAR17m, according to Reuters. However, revenue has increased 9.3 per cent to SAR56.5m, compared to SAR51.7m of the year-ago period. |
Pakistan cement firms see profits fall02 May 2018, Published under Cement NewsPakistani cement companies continue to report decreases in profits, largely due rises in the cost of sale and other factors in the 9MFY17-18. DG Khan Cement Co Ltd (DGKC) earned a net profit of PKR4.96bn (US$40.4m) in 9MFY18 compared to PKR6.45bn (US$55.6m) in the corresponding period of the previous financial year, representing a 23 per cent YoY drop. Net sales rose to PKR23.37bn from PKR22.63bn during this period. DGKC incurred a distribution cost of PKR691m against PKR231m in the year... |
Caribbean Cement pays first instalment of asset buyback02 May 2018, Published under Cement NewsJamaica’s Caribbean Cement Co Ltd (Carib Cement) has paid the first instalment of JMD1.3bn (US$10.50m) on an asset buyback agreement with its parent company, Trinidad Cement Ltd (TCL). The agreement means that Carib Cement has 90 days to pay US$118m to TCL, to reclaim ownership of Kiln 5 and Mill 5 at its facility in Rockfort, Kingston, according to The Jamaica Gleaner. "The initial payment of JMD1.3bn towards the acquisition represents a significant investment in plant and equipment, imp... |
Breedon Group02 May 2018, Published under Cement NewsBreedon Group, which in 2017 generated a turnover 43.5 per cent higher at GBP652.4m (EUR750.5m), produced EBITDA 39.8 per cent ahead at GBP117m (EUR134.6m) and a pretax profit of £71.2m (EUR81.9m), representing an increase of 52.1 per cent. Aggregates volumes increased by 40.4 per cent in 2017 to 16Mt, while ready-mixed concrete deliveries advanced by 73.7 per cent to 3.3Mm³. Asphalt remained stable at 1.9Mt. A GBP16.5m (EUR19m) deal was concluded with CRH in the early part of 2018, where... |
Votorantim Cimentos02 May 2018, Published under Cement NewsVotorantim Cimentos generated a turnover 6.9 per cent lower at BRL11,104m (US$3165.8m/ EUR2622m) and EBITDA declined by some 25.7 per cent to around BRL1762m (EUR416m). Group cement deliveries declined by 3.1 per cent to 31.5Mt. The continuing reduction in construction activity in Brazil led to a 6.7 per cent reduction in Brazilian cement deliveries in the year, down from the 11.7 per cent fall in the previous year and Votorantim Cimentos, as market leader, suffered accordingly. The Brazi... |
CRH02 May 2018, Published under Cement NewsCRH concluded a EUR19m deal with Breedon Group in the early part of 2018, whereby Breedon acquired four quarries and an asphalt plant in Britain in exchange for 27 ready-mixed batching plants and EUR5.6m in cash. However, the number of ready-mixed concrete plants to be acquired is likely to have to be reduced because of objections from the competition authorities. CRH's 1Q18 underlying sales declined by around two per cent. European turnover was also off by two per cent and the Americas ... |
Cemex Latin American Holdings02 May 2018, Published under Cement NewsCemex Latin American Holdings' turnover declined by 8.4 per cent in the 1Q18 to US$301.1m, while EBITDA came off by 28.8 per cent to US$65.9m. At the trading level there was a 36 2. per cent profit reduction to US$44.1m. After an 11.4 per cent decline in the interest charge to US$14.8m and other items, the pretax profit showed a 15.9 per cent reduction to US$48.2m and the net attributable profit emerged 15.3 per cent lower at US$30m. Net debt at the end of March was 3.4 per cent lower th... |
Cemex02 May 2018, Published under Cement NewsCemex' 1Q18 turnover improved by 7.6 per cent to US$3380.54m, but EBITDA declined by four per cent to US$534.86m. Trading profit fell by 31.9 per cent to US$333.92m. The net interest charge came down by 30.7 per cent to US$186.17m and the pretax profit dropped by 62.5 per cent to US$92.74m. The effective net debt was 9.9 per cent lower at US$11,353m, of which 66 per cent was in US dollar, 26 per cent in euro and seven per cent in other currencies, with 59 per cent of the debt being at fix... |