Cement News tagged under: business results
Saudi Arabia: Northern Cement sees 43% profit fall in 3Q1620 October 2016, Published under Cement NewsNorthern Region Cement Co reported a 42.83 per cent decline in net profits to SAR30.09m (US$8m) in 3Q16 from SAR52.64m a year earlier. Profits also decreased 38.16 per cent QoQ, according to the company's statement to the Tadawul. The decrease in profits has been attributed to lower sales following a weaker domestic demand amid the Hadj season and summer holidays, complemented by a rise in costs as fuel prices rose. |
UltraTech Cement19 October 2016, Published under Cement NewsUltraTech Cement has recorded a 25 per cent increase in consolidated net profit in the quarter ending 30 September 2016. Profit rose to INR6.14bn (US$92.1m) versus INR4.9bn in the same period last year. This compares to analyst predictions of INR7bn. Earnings before interest, depreciation, taxation and amortisation increased by 16 per cent to INR13.7bn, up from INR11.8bn in the same period in 2015. Net sales, however, slipped from INR58.5bn to INR57bn, below analyst forecasts of INR63.2bn. ... |
Saudi Arabia: Yanbu, All Jouf and Saudi Cement see fall in 3Q16 profits19 October 2016, Published under Cement NewsMore Saudi cement producers have reported a fall in profits for the third quarter of 2016. The decline in profits were attributed to lower sales and a drop in average selling prices as competition intensified amid weaker demand. Higher oil prices have also been cited as a major factor in the decrease. Yanbu Cement company recorded a 35.9 per cent drop in profits during the period from SAR145m (US$38.7m) in 3Q15 to SAR93m (US$24.8m), according to a bourse filing. Profits also fell QoQ, by ... |
Saudi Arabia: Yamama sees 41% net profit decrease18 October 2016, Published under Cement NewsYamama Cement Co reported a 41 per cent YoY fall in net profits to SAR56.3m (US$15m) in the 3Q16 from SAR95.53m (US$25.47m). The decrease resulted from a higher cost of sold goods due to increases in fuel prices as well as those of fixed assets, according to a bourse filing. The company also attributed the lower profits to lower value and volume of sales as a result of the pilgrimage season in the current quarter. Yamama's profits retreated 30.14 per cent to SAR323m during the firs... |
Saudi Arabia: Southern Province 3Q16 profit drops 14%18 October 2016, Published under Cement NewsSouthern Province Cement posted a 14.4 per cent YoY decrease in profits from SAR202m (US$53.9m) in 3Q15 to SAR173m in 3Q16. Lower demand and higher depreciation were cited as the key reasons for the decline. In the first nine months of 2016, the cement producer registered net profits of SAR724m, down from SAR739m for the same period of the previous year. |
Saudi Arabia: low demand sees Najran Cement 3Q16 profits halved18 October 2016, Published under Cement NewsLower sales volumes due to a slowdown in construction activity have seen the net profit of Saudi Arabian-based Najran Cement halve YoY from SAR32.07m (US$8.55m) in 3Q15 to SAR15.36m in 3Q16. The profit fall came despite lower selling and distribution expenses, Zakat (tax) as well as higher other revenues. As for the nine-month period ended 30 September 2016, the Saudi cement producer reported a net profit of SAR110m, down 45.5 per cent from SAR201.89m in the same period in 2015. |
Oman: Raysut Cement 3Q profit falls 23%14 October 2016, Published under Cement NewsRaysut Cement Company reported a 22.5 per cent fall in its 3Q16 profits, according to a bourse statement. Profits reached OMR3.76m (US$9.7m), compared to OMR4.85m in 3Q15. In the first nine months of 2016, net profits increased five per cent to OMR16.66m from OMR15.81m in the equivalent period of 2015. |
LafargeHolcim13 October 2016, Published under Cement NewsLafarge Zimbabwe increased its first half turnover by 4.3 per cent to US$26.5m in 1H16, but the company's loss advanced by 61.9 per cent to US$2.25m, reflecting increased competition, including the arrival of a new competitor. Another competitor is threatening to close capacity unless the government acts to curb imports. |
Mexico's GCC sees 32% hike in EBITDA in 3Q1613 October 2016, Published under Cement NewsGrupo Cementos Chihuahua reported a 32.3 per cent rise in EBITDA in the 3Q16, supported by an 11.5 per cent increase in US sales, a price hike due to the depreciation of the Mexican peso against the dollar. "Net sales (consolidated) in the third quarter of 2016 increased 10.2 per cent over the same period of 2015, totalling MXN4,287m. This increase is a result of higher volumes of cement in Mexico and concrete in the US," explains the firm in its report to the Mexican Stock Exchange (BMV).... |
Qatar National Cement Company profits flat for 9M201613 October 2016, Published under Cement NewsThe Qatar National Cement Company (QNCC) has released its earning statement for the first nine months of 2016, showing that revenues and profits have changed little from the corresponding period in 2015. Profits at QNCC were down one per cent to QAR355m (US$97.6m), while revenues also fell slightly, being down 0.9 per cent to QAR839m. Taken together with previous three-monthly earnings statements, QNCC’s revenues have now fallen for two straight quarters, declining by 3.0 per cent in Q... |