Cement News tagged under: business results
Saudi Arabia: Qassim Cement reports lower-than-expected 3Q16 profits11 October 2016, Published under Cement NewsSaudi Arabia’s Qassim Cement reported a profit of SAR70.4m (US$18.8m) in 3Q16 and an operating profit of S AR78.3m. The results were lower than expected, according to Al Rahji Capital, who had estimated them at SAR86m and SAR91m, respectively. "Earnings declined mainly due to sharp drop in gross margin to 49.3per cent (vs 60.1 per cent in 3Q15) which in turn was due to lower sales volume and average realised price/tonne,” Al Rajhi Capital reported. The fall in profits was attributed to... |
India: Sagar Cement sales rise 29% on consolidated basis07 October 2016, Published under Cement NewsSagar Cement has announced its sales and production figures for September, which saw the former rise by 29 per cent on a consolidated basis, but fall by 15 per cent on a standalone basis, Accord Fintech reports. Consolidated sales amounted to 148,000 tonnes, while standalone sales reached 98,000 tonnes. Production for September was 146,000 tonnes, while standalone production was 94,000 tonnes. For the period April to September 2016, Sagar produced 1.09Mt on a consolidated basis and 0.7... |
Lafarge Zimbabwe losses increase to US$2.2m30 September 2016, Published under Cement NewsLafarge Zimbabwe has announced a 1H16 loss of US$2.2m, an increase from the 1H15 US$1.3m loss, the Insider reports. Competition from cheap imported cement and rising output from other domestic producers had had an impact on profits, as had softening demand caused by Zimbabwe’s economic difficulties, said the company. Despite this, sales revenues for the first six months of the year were up slightly, rising by 4.3 per cent to US$26.5m. Lafarge Zimbabwe Board Chair, Kumbirayi Katsande... |
Pakistan: Pioneer Cement profits up slightly in FY201628 September 2016, Published under Cement NewsPakistan cement producer Pioneer Cement Ltd has reported post-tax profits of PKR2.51bn (US$24m) for the financial year ended June 2016, a rise of 0.9 per cent YoY. In a notice to Pakistan Stock Exchange (PSX), the company stated that its net sales increased by 11 per cent to PKR9.36bn over the same period. Pioneer incurred distribution costs of PKR60m and administrative expenses of PKR81.5m, both up slightly on last year. However, the financing cost fell to just PKR17.5m, around a third o... |
Kazakhstan: Steppe Cement 1H loss falls in dollar terms14 September 2016, Published under Cement NewsSteppe Cement has published its financial results for the first six months of 2016. Losses in dollar terms fell to US$1.5m from US$2.2m in the same period in 2015. However, due to a revaluation of the tenge, losses in the company’s operating currency rose from KZT407m (US$1.2m) in 1H2015 to KZT517.5m in 1H2016. Turnover fell by 1.1 per cent to KZT8.2bn, but sales rose 6.1 per cent in volume terms to 0.76Mt. Revenues were hit by a fall in prices, which were down 9.1 per cent to KZT8781/t, ... |
India: Sagar Cements sales down 13.7% for 1HFY16-1708 September 2016, Published under Cement NewsSagar Cements has released its sales and production figures for the period to August 2016, reports Accord Fintech. These show that sales at the company fell by 13.73 per cent to 0.665Mt in the period April-August 2016 when compared to those of a year earlier. Production also declined, but less severely, being down by 1.52 per cent to 0.66Mt. In the month of August alone, sales were down 22.56 per cent to 0.108Mt, while production dropped to 0.102Mt, a fall of 11.21 per cent. Sagar C... |
PPC increase revenue and volumes in 3QFY15-1606 September 2016, Published under Cement NewsPPC reported a nine per cent YoY rise in quarterly sales revenue, commenting that sales revenue in South Africa increased two per cent and volumes by at least nine per cent in the company's 3QFY15-16. However, revenue outside of South Africa was even stronger, growing 19 per cent as a result of significant volume growth, newly commissioned plants in Rwanda and gains made through currency translations. CEO of PPC, Daryll Castle said, “the group's revenue has improved by six per cent suppor... |
Vicat02 September 2016, Published under Cement NewsVicat's first-half turnover eased by 0.4 per cent to EUR1237m, which amounts to a 4.3 per cent increase on a comparative basis. EBITDA improved by 2.3 per cent to EUR208m and the margin advanced from 16.3 per cent to 16.8 per cent. The trading profit moved ahead by 11.2 per cent to EUR103m, with the underlying margin improving by 16.5 per cent. The net attributable profit advanced by 45.7 per cent to EUR49m. The net debt at the end of the period amounted to EUR1059m and the gearing level dec... |
Cimpor02 September 2016, Published under Cement NewsCimpor's first-half turnover dropped by 31.1 per cent to EUR897.3m, while EBITDA declined by 39.1 per cent to EUR170.1m. The amortisation and provision charge jumped from EUR100.6m to EUR527.9m as a result of a EUR433m good-will impairment charge relating to Brazil. This led to the trading result falling from a profit of EUR178.6m to a EUR357.7m loss and after a 9.2 per cent increase in the net financial charge to EUR182.2m there was a pretax loss of EUR539.9m against a profit of EUR11.8m. A... |
Votorantim02 September 2016, Published under Cement NewsVotorantim, formerly Votorantim Industrial, generated a second quarter turnover 3.8 per cent lower at BRL7573m (EUR2074m) while EBITDA declined by 17.4 per cent to BRL1490m (EUR408m). The first half generated a turnover of BRL14291m and EBITDA amounted to BRL2335m, a 27.4 per cent reduction. Votorantim Cimentos contributed 46 per cent of the turnover compared with 44.8 per cent a year earlier and all of EBITDA in the quarter compared with 49.6 per cent a year prior. Net debt declined by 4... |