Cement News tagged under: business results
India: Prism Cement returns to profit for 1QFY16-1710 August 2016, Published under Cement NewsPrism Cement has announced its trading figures for the first quarter of the 2016-17 financial year, CNBC’s MoneyControl reports. In the three months to June the firm made a net profit of INR156.5m (US$2.3m) as compared to a loss of INR149m (US$2.2m) in the same period last year. Overall revenue was down by 0.6 per cent at INR14bn (US$211m), but expenses declined more rapidly, falling by 2.9 per cent to INR13.5bn (US$202m). Looking to the future, the company said: "While the near term d... |
China: Asia Cement reports 1H16 loss09 August 2016, Published under Cement NewsAsia Cement (China) has released trading figures for the half of 2016, which reveal that the company made a loss of CNY64.6m (US$9.7m) for the period, ET Net reports. In the same six months in 2015, the company had made a profit of CNY9.85m (US$1.5m). The loss comes on the back of revenues that were down seven per cent YoY to CNY2.8bn (US$420m). The fall in profitability was attributed to lower prices and increased costs in servicing US dollar-denominated debts. |
India: Mangalam Cement returns to profit with 1QFY16-17 results08 August 2016, Published under Cement NewsMangalam Cement, part of India’s Birla Group, has published its business results for the first quarter of FY16-17. These see the company return to profit after reporting a loss of INR205m (US$3m) in FY15-16. In the three months to June 2016, Mangalam Cement made a profit of INR226m (US$3.4m) as compared to an INR205m (US$2.8m) loss in the same period last year. Total revenues were up by 5.5 per cent to INR2.25bn (US$33.7m), while expenses were down by 17 per cent to INR1.86bn (US$27.9m). |
LafargeHolcim 2Q16 results05 August 2016, Published under Cement NewsLafargeHolcim released its second quarterly results today, which reported net sales of CHF7.28bn (US$7.47bn). Adjusted operating EBITDA (excluding merger, restructuring and other one-offs) increased six per cent like-for-like in the quarter to CHF1.7bn (US$1.75bn). Net income increased CHF318m (US$326.5m) to CHF452m (US$464m) for the first half of the year and the group's annual divestment target of CHF3.5bn (US$3.59bn) was exceeded. CEO of LafargeHolcim, Eric Olsen, said, “Our focus on p... |
LafargeHolcim02 August 2016, Published under Cement NewsLafargeHolcim has agreed to sell Lafarge India to the Indian conglomerate Nirma Ltd for around US$1400m. It will be Nirma’s first investment in the cement sector and comes in spite of a marginally higher offer from a Chinese cement producer. The deal involves three cement works and two grinding centres with a combined capacity of some 11Mt and is also one of the largest ready-mixed concrete producers in India. The disposal of some cement operations were demanded by the competition authoritie... |
HeidelbergCement02 August 2016, Published under Cement NewsHeidelbergCement's first-half results show a one per cent reduction in turnover to EUR6407.0m but EBITDA improved by 5.8 per cent to EUR1112.1m, while the trading profit advanced by 9.9 per cent to EUR728.3m. The net interest charge declined by 22.5 per cent to EUR221m and the pretax profit rose by 24.9 per cent to EUR507.3m. The net attributable profit improved by 66 per cent to EUR246.3m. Net debt at the end of June was 7.4 per cent lower than a year earlier at EUR5855m, giving a geari... |
Cemex02 August 2016, Published under Cement NewsCemex' first-half turnover declined by 2.1 per cent to US$6881.5m, while EBITDA did improve by 4.8 per cent to US$1353.8m. The trading profit improved by 2.7 per cent to US$841.9m. Net interest payments declined by 6.1 per cent to US$613.1m and the pretax profit jumped by 91.8 per cent to US$333.6m. The net attributable result went a of US$31.6m loss to US$241.5m profit. Equity shareholders' funds declined by 6.1 per cent by the end of June to US$8235m and the net debt came down by 7.8 pe... |
Italcementi02 August 2016, Published under Cement NewsItalcementi’s subsidiary Ciments Français has agreed to the sale of its subsidiary Compagnie des Ciments Belges (CCB) and its subsidiaries to the Cementir subsidiary Aalborg Portland Holding for EUR312m. CCB has a cement works at Gaurin in the province of Tournai. Last year’s production amounted to 1.8Mt of cement, 4.8Mt of aggregates and 0.8Mm³ of ready-mixed concrete, generating a turnover of EUR180m. Italcementi's first-half turnover declined by 2.1 per cent to EUR2122.6m and running E... |
Italcementi hit by restructuring and impairment charges02 August 2016, Published under Cement NewsItalcementi's first-half turnover declined by 2.1 per cent to EUR2122.6m and running EBITDA was 7.6 per cent lower at EUR300m. Hit by restructuring and impairment charges, the trading profit of EUR113m was turned into a EUR2090.6m trading loss. Net financing costs increased by 3.6 per cent to EUR68.4m, giving a pretax loss of EUR291.1m, compared with EUR57.3m profit a year earlier. At the net attributable level there was a EUR372.8m loss, compared with a EUR32.6m a year earlier. Net debt ... |
Qatar Cement signs US$100m deal with Saudi investors02 August 2016, Published under Cement NewsThe Qatar National Cement Company has agreed a US$100m financing deal with Samba Financial Group of Saudi Arabia, the Peninsula newspaper reports. The investment deal will be used to part-fund Qatar Cement’s fifth integrated plant, construction of which is already underway at a total cost of QAR950m (US$260m). The new plant will have a clinker capacity of 17,000tpd and grinding capacity of 20,000tpd. Qatar Cement also released its earnings statement for the first half of 2016. This ove... |