Cement News tagged under: business results
PPC22 February 2018, Published under Cement NewsPPC has reported improved revenue in the nine months ending 31 December 2017, compared to the same period a year earlier, driven by good operational cost management. Group EBITDA also tracked ahead YoY. A lack of large infrastructure projects continues to hamper cement volume growth in South Africa, according to the company, which estimates that overall cement demand in the country fell by 3-4 per cent in 2017. PPC saw its volumes in South Africa decline by 1-2 per cent YoY, which is an i... |
Bestway Cement announces 13% net profit fall22 February 2018, Published under Cement NewsPakistan’s Bestway Cement Ltd has announced a net profit of PKR6.19bn (US$55.9m) in the 1HFY18 period, representing a 12.8 per cent fall from the year-ago period. The decrease in profit has been attributed to the rising cost of sales. While net sale increased to PKR38.44bn from PKR35.35bn, costs also advanced to PKR16.55bn (1HFY17: PKR14.03bn). The company reported an administrative expense of PKR1.15bn, compared to PKR1.13bn of the 1HFY17. |
HeidelbergCement announces 4Q17 and FY17 preliminary results20 February 2018, Published under Cement NewsHeidelbergCement's preliminary results for the 2017 financial year highlighted a significant rise for cement and clinker sales volumes, due to consolidation, increasing by 22 per cent to 126Mt, compared to 103Mt in 2016. Aggregates sales volumes recorded a growth of 12 per cent to 305Mt, up from 272Mt in 2016, while ready-mixed concrete volumes increased by 11 per cent to 47Mm 3 compared to 43Mm 3 in 2016. In the reporting year, sales volumes of the core products cement, aggregates, and ... |
Vicat's 2017 profits lower at pretax, but higher at net level20 February 2018, Published under Cement NewsVicat's turnover improved by 4.5 per cent in 2017 to EUR2563.5m while EBITDA eased by three per cent to EUR444.2m, while at unchanged exchange rates and other parameters the changes would have been +6.4 per cent and -3.4 per cent, respectively. The trading profit declined by 4.1 per cent to EUR247.2m, with the decline at unchanged parameters being 5.9 per cent. The net financial charge was 26.85 per cent or EUR9.9m lower at EUR28.2m and after a reduction in the contribution from associate... |
Cemento Melon reports 14% decrease in 2017 sales20 February 2018, Published under Cement NewsChile’s Cemento Melon saw its sales decrease by 14 per cent to US$298m in 2017 from US$345m in 2016. The company’s profit declined 54 per cent to US$14m from US$30m in 2015 due to lower sales of cement and concrete. The company has attributed the slide by the poor performance of the country’s construction sector, which contracted by three per cent. |
Arabian Cement posts SAR97m profits in 4Q1720 February 2018, Published under Cement NewsArabian Cement reported a 276YoY surge in net profits of SAR97m (US$25.9m) in 4Q17, compared to SAR25.8m in 4Q16, according to a statement to the Saudi Stock Exchange. However, QoQ profits fell 46.3 per cent. For the full-year 2017, the cement producer’s profits decreased to SAR262.7m from SAR489.6m in 2016. The company attributed to decline in profits to a drop in sales volumes and prices as well as a fall of other revenues. |
Fauji Cement of Pakistan reports falls in profit of 6MFY17-1820 February 2018, Published under Cement NewsFauji Cement (FCCL) has announced its July-Dec 2017 results with net profit for the period falling to PKR1.26bn (US$11.3m) from PKR1.3bn (US$11.7m), earned in corresponding month of last fiscal year. This translates to a fall in profit of 2.7 per cent on a YoY basis. Experts say the profit falls are due to the increased costs of sale and distribution. According to a company bourse filing, its sales were up by 0.8 per cent to PKR10.26 bn in 6MFY17-18. The company incurred a distribution c... |
City Cement profit fall 57% in 201720 February 2018, Published under Cement NewsSaudi-Arabia-based City Cement reported a 56.9 per cent YoY drop in net profits for 2017 to SAR93.3m (US$24.9m). In 2016 net profits reached SAR216.3m, but a 48 per cent fall in net profits in 4Q17 put pressure on last year’s results. Net profits during the last quarter of 2017 decreased to SAR23.9m from SAR45.9m a year earlier. The cement producer attributed the decline in profits to a drop in sales as well as higher production costs. City Cement’s sales fell 11 per cent to SAR53... |
Arkan posts AED30.2m net profit following Emirates Cement closure16 February 2018, Published under Cement NewsUAE cement producer Arkan Building Materials Co posted a net profit of AED30.2m in 2017 compared to a loss of AED82.3m in 2016. The company attributed the increase in profits to an AED158m asset write-off relating to the closure of the Emirates Cement Factory. “Net profit was also impacted by the increase in gas and electricity prices enforced last year by AED78m and the completion of the accounting treatment of the benefit from the government grant of AED18m received in July 2011,” th... |
Maple Leaf Cement profit falls in 6MFY17-1816 February 2018, Published under Cement NewsMaple Leaf Cement Factory Ltd (MLCF) announced its half-year financial result for the period ended 31 December 2017 today. It reported earnings o f a profit after tax of PKR2.24bn (US$20.2m) compared to PKR2.62bn (US$23.6m) earned in corresponding period last year showing a fall of 14.50 per cent on YoY basis. According to financial result sent to Pakistan Stock Exchange (PSX), the company also announced an interim cash dividend of PKR1.50/share. Its net sales increased to PKR12.27bn d... |