Cement News tagged under: business results

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Adelaide Brighton sees revenue down 8% in 2019

27 February 2020, Published under Cement News

Australia’s Adelaide Brighton Ltd has reported a 74.5 per cent YoY fall in net profit to AUD47.2m (US$31.1m) for 2019, decreasing from AUD185.2m in the previous year. Revenue also declined 7.5 per cent to AUD1.517bn from AUD1.630bn. The company’s EBITDA was down 23 per cent to AUD271.6m from AUD352.8m in 2018. "In 2019, construction materials markets softened on the eastern seaboard of Australia, particularly in Queensland and New South Wales – driven by an oversupply of multi-residential ...

East African Portland Cement announces 8% revenue increase

27 February 2020, Published under Cement News

Kenya’s East African Portland Cement has reported a KES1.63bn (US$16.1m) net loss in the first half of the financial year, ending 31 December 2019. This is largely consistent with the KES1.62bn net loss seen in the 1HFY18-19. However, the company’s revenue increased eight per cent to KES1.48bn, compared with KES1.37bn in the corresponding period of the previous year.

Boral posts lower 1H earnings

26 February 2020, Published under Cement News

Boral Ltd reported a statutory net profit after tax (NPAT) of AUD137m (US$90m) for the half-year ended 31 December 2019, after significant items of AUD20m. The half-year results reflects lower 1H earnings from Boral Australia and USG Boral due to cyclical declines in Australian and South Korean housing markets, partially offset by improvement initiatives. Volume pressures and higher costs also affected earnings of Boral North America. EBITDA of AUD439m and EBITDA from continuing operations ...

Najran Cement reports SAR53.5m profit in 2019

26 February 2020, Published under Cement News

Saudi Arabia’s Najran Cement Co has reported a net profit of SAR53.5m (US$14.27m) in 2019, a significant improvement upon the SAR83.5m net loss in the previous year. Sales also advanced 49.6 per cent YoY to SAR416.4m from SAR278.4m in 2018, on the back of an increase in sales volumes and prices.

Maple Leaf Cement posts loss despite increasing sales during 6MFY19-20

26 February 2020, Published under Cement News

Pakistan-based Maple Leaf Cement Factory Ltd (MLCF) has announced its consolidated financial results for the half year ended 31 December 2019. It incurred a net loss of PKR1.76bn (US$11.41m) as compared to profit of PKR1.33bn earned in the same period last year. This shows YoY losses at 32.5 per cent. The major factors responsible for this fall were the increase in cost of sales and the huge finance cost.   A local brokerage house while reviewing Maple Leaf financial results has pointed out ...

Cementos Argos sees 11% rise in revenue for 2019

25 February 2020, Published under Cement News

Colombia’s Cementos Argos saw a 11.4 per cent YoY rise in consolidated revenue to COP9.3trn (US$2.71bn) in 2019. EBITDA increased 14.3 per cent YoY to COP1.75trn, while its operating income advanced 1.7 per cent to over COP838bn. However, the company's net profit declined 31.7 per cent to COP122bn from COP179bn in 2018. The fall was attributed to a US$9m US tax provision relating to its successful asset divestment plan, according to a press release. Cementos Argos dispatched 16Mt of cemen...

Thatta Cement's profits slip in 1HY19-20

25 February 2020, Published under Cement News

Pakistan's Thatta Cement Company Ltd (THCCL) has announced its consolidated financial results for the half year ended 31 December 2019. It posted a profit of PKR116m (US$0.75m), representing a 61.4 per cent fall YoY, as compared to PKR300m earned in the same period last year.  The major factor responsible for this drop were lower sales and increased finance costs. THCCL's net sales during the reporting year decreased by 35.5 per cent to PKR1.50bn from PKR2.33bn during the same period last ...

Gharibwal Cement posts loss in 1HY19

25 February 2020, Published under Cement News

Gharibwal Cement Ltd (GWLC) of Pakistan has announced its financial results for the half year ended 31 December 2019. GWLC incurred a net loss of PKR245m (US$1.58m) as compared to a profit of PKR593m earned in the same period last year. The drop was attributed to the increase in cost of sales, selling and distribution expenses as well as a higher finance cost in the July-December 2019 period. The company sales also decreased by 6.2 per cent to PKR5.16bn from PKR5.51bn in the same period l...

Dewan Cement profit succumbs to fall in sales in 1HY19-20

25 February 2020, Published under Cement News

Dewan Cement Ltd (DCL) of Pakistan has announced its financial results for the half year ended 31 December 2019. It incurred a net loss of PKR172m (US$1.15m) as compared to profit of PKR328m earned in the same period last year. The losses can be attributed to a drastic fall in net sales and a modest increase in distribution cost and administrative expenses. The company's sales also decreased by 37.1 per cent to PKR4.04bn from PKR6.42bn in the same period last year. DCL incurred a higher dis...

Kuwait Portland Cement records 26% decline in profit

24 February 2020, Published under Cement News

Kuwait Portland Cement has announced a 26.4 per cent YoY decrease in 2019 profit to KWD7.59m (US$24.88m), compared with KWD10.32m a year earlier. Operating revenue also declined 19.5 per cent to KWD85.23m from KWD105.94m in 2018. In the 4Q19, the company saw net profit dip 43.6 per cent YoY to KWD1.41m from KWD2.5m in the year-ago period.