Cement News tagged under: business results

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Lafarge Jordan Cement set to cut 200 jobs

05 November 2019, Published under Cement News

Lafarge Jordan Cement has announced it would be cutting 200 jobs to remain in business after accumulating losses of JOD62.2m (US$87m) following the closure of one plant in the country and the partial shutdown of another, according to Reuters. The company recorded losses of JOD34.6m in 2018, compared to JOD33.3m in the previous year. "The decision is part of the company plan to ensure its continuity," said Samaan Samaan, CEO of Lafarge Jordan Cement, to Reuters. Mr Samaan also noted that t...

City Cement sees 96% rise in revenues, back in profit in 3Q19

05 November 2019, Published under Cement News

Saudi-based City Cement Co reported profits of SAR50.5m (US$13.5m) in the 3Q19 when compared with SAR2.38m loses in the same quarter of 2018, according to Mubasher. Total revenues increased by 95.8 per cent to SAR127.9m in the third quarter, compared to SAR65.3m in the 3Q18, said a bourse statement. In the first nine months of 2019, net profits of City Cement soared by 283.3 per cent to SAR124m, from SAR32.39m in the same period of the previous year. City Cement generated SAR373m in revenu...

RAK White Cement announces 29% net profit rise

05 November 2019, Published under Cement News

UAE-based RAK White Cement saw its net profit increase 28.6 per cent to AED17.89m (US$4.8m) during the 9M19, compared to AED13.91m in the year-ago period. Sales advanced 5.9 per cent to AED180.16m in the first nine months of 2019 against AED170.08m in the 9M18.

JK Lakshmi Cement records 6% rise in net sales

05 November 2019, Published under Cement News

India’s JK Lakshmi Cement has reported a net profit of INR486.7m (US$6.89m) in the 2QFY19-20, compared with a net loss of INR50.2m in the year-ago period. Consolidated net sales increased 5.6 per cent YoY to INR10.12bn. Consolidated EBITDA advanced 45 per cent to INR1.54bn in the quarter ending September 2019, rising from INR1.06bn in the corresponding quarter of the previous year.

Ramco Cements reports 47% 3Q profit rise

01 November 2019, Published under Cement News

India-based Ramco Cements posted a 3Q19 profit of INR1.68bn (US$23.7m), up by 47 per cent when compared with INR1.14bn in the 3Q18. When compared with the quarter ended June, profit was down 12.5 per cent from INR1.92bn. On a consolidated bases, earnings in the 3Q19 increased 43.3 per cent to INR1.72bn from INR1.2bn in the year-ago period. Revenues advanced by 12 per cent YoY to INR12.82bn in the 3Q19 when compared with the equivalent period of the previous year but fell five per cent when ...

Rain sends Caribbean Cement profits down

01 November 2019, Published under Cement News

Caribbean Cement Co’s 3Q profit was affected by heavy rains at the end of summer and a large tax charge, according to the cement producer. In addition, higher operational expenses further impacted profit. Some of the costs were associated with the demolition of a large obsolete structure at its Rockfort plant near Kingston, Jamaica. Sales revenue in the third quarter fell to JMD4.38bn (US$31.8m) from JMD4.46bn in the 3Q18. Profit before tax declined 55 per cent YoY to JMD238m while profi...

Dangote Cement Group's unaudited 9M19 results see volumes rise 1.1%

31 October 2019, Published under Cement News

Dangote Cement Group's unaudited results for the 9M19 to 30 September 2019 saw group volumes up 1.1 per cent to 18Mt and Nigerian sales up 0.6 per cent to 10.8Mt, driven by strong 3Q19 promotional activity. Pan-African cement volumes rose by 1.7 per cent to 7.1Mt for the 9M19. However, group revenue fell by 0.8 per cent to NGN679bn (US$1.88bn) and group EBITDA slipped by 10.1 per cent to NGN303.2bn. Joe Makoju, Group Chief Executive Officer said: "The huge success of our Bag of Good...

Lucky Cement reports fall in profit by 62% in 1QFY20

31 October 2019, Published under Cement News

Lucky Cement Ltd of Pakistan has announced its financial results for the 1QFY20 ended September 2019. It posted a net profit after tax of PKR955.8m (US$6.1m) as compared to PKR2.492bn earned in the same quarter last year, which is contracted by 62 per cent.  Apparently, fewer sales to PKR13.92bn from PKR6.01 during this period was one of the factors, besides company attributes it to adverse pricing and cost inputs in addition to higher distribution cost. The company sustained a hi...

Asia Cement (China) Holdings Corp posts 40% 9M profit rise

30 October 2019, Published under Cement News

Asia Cement (China) Holdings Corp has reported a 16.3 per cent advance in revenues to CNY9.18bn (US$1.299bn) in the 9M19 when compared with CNY7.89bn in the 9M18, according to Reuters. Attributable profit came in at CNY2.24bn in the nine-month period, representing a 40 per cent increase YoY from CNY1.6bn. Cementitious sales are expected to reach 30.9Mt in the FY19.

Tanga Cement sees 1H sales slip 1%, net loss widens

30 October 2019, Published under Cement News

Tanzania-based Tanga Cement saw its first-half sales edge down by one per cent YoY to TZS97.63bn (US$42.4m) in 2019 from TZS98.88bn in the1H18, according to the company’s unaudited results for the six months ended 30 June 2019. Gross profit fell to TZS24.98bn in the 1H19 from TZS25.56bn in the year-ago semester while operating profit declined to TZS1.17bn from TZS6.77bn over the same period. Net loss widened from TZS1.79bn in the first six months of 2018 to TZS10.23bn between January-June...