Cement News tagged under: business results

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Southern Province sees 42% fall in 1H net profits

11 August 2022, Published under Cement News

In the first half of 2022, Saudi Arabia-based Southern Province Cement Co reported net profits after zakat and tax of SAR150m, down 41.6 per cent YoY from SAR257m in the 1H21, according to Mubasher. The company’s revenues declined by 22.4 per cent YoY to SAR564m from SAR727m in the 1H21. During the second quarter of 2020 net profits after zakat and tax fell 29.9 per cent yoY to SAR61m from SAR87m in the 2Q21. Revenues decreased by 18.5 per cent to SAR234m in the 2Q22 from SAR287m in 2Q21.

Taiwan Cement reports 21% hike in July revenue

11 August 2022, Published under Cement News

Taiwan Cement has posted a revenue of TWD10,102.468m (US$336.3m) in July 2022, ,up 21.4 per cent when compared with TWD8,319.972m, , according to a filing on the Taiwan Stock Exchange. In the first seven months of 2022, revenues slipped 0.2 per cent to TWD58,247.2m from TWD58,343.336m in the 7M21.

Hsing Ta Cement posts 13% increase in July revenue

10 August 2022, Published under Cement News

Taiwan-based Hsing Ta Cement Co Ltd reported a 13.3 per cent advance in revenue to TWD557.403m (US$18.5m) in July 2022 from TWD492.134m in July 2021, according to a filing on the Taiwan Stock Exchange. The company’s revenue in the January-July 2022 period decreased 15 per cent to TWD3562.279m from TWD4189.866m.

Arabian Cement posts 34% rise in 2Q profit

10 August 2022, Published under Cement News

Saudi cement producer Arabian Cement Co reported a 2Q net profit after zakat and tax of SAR45m (US$12m), up 34.2 per cent from SAR33.5m in the 2Q21. The increase in profit was achieved despite sales slipping from SAR233m in the 2Q21 to SAR231m in the 2Q22 as the average sale price increased. In addition, there was an increase in the share of profit of associated companies and a decrease in finance costs. The 2Q22 also saw a decrease in sales volumes of Arabian Cement and its subsidiary i...

Taiheiyo Cement posts 1Q revenue of JPY177bn

09 August 2022, Published under Cement News

Japanese cement producer Taiheiyo Cement Corp saw a 10.6 per cent increase in group revenue to JPY176.52bn (US$1308.5m) in the 1QFY22-23 when compared with JPY159.61bn in the equivalent period of the previous financial year. Operating profit was down 87.8 per cent from JPY9.92bn in the 1QFY21-22 to JPY1.21bn in the 1QFY22-23 while pretax profit contracted by 79.1 per cent to JPY2.19bn from JPY10.48bn during the same period. The company reported a JPY220m net loss in the 1QFY22-23, comp...

Birla Corporation hit by escalating fuel costs

08 August 2022, Published under Cement News

Birla Corp Ltd has reported a 25.2 per cent increase in revenue to INR22,180.6m (US$278.8m) in the first quarter of FY22-23, despite tepid cement demand. However, profitability was hit by rising power, fuel and freight costs, along with the costs incurred with the optimisation of the newly-commissioned Mukutban plant in eastern Maharashtra. Commercial production at the plant began on 30 April 2022 with capacity at the unit expected to reach 3.9Mta, taking the company's total production cap...

Northern Region Cement reports 9% drop in 1H net profit

08 August 2022, Published under Cement News

Northern Region Cement Co posted net profits after zakat and tax of SAR48.09m (US$12.8m) in the first half of 2022, down 9.1 per cent from SAR52.9m in the 1H21. Revenues declined by 13.2 per cent in the 1H22 to SAR266.68m when compared with SAR307.19m in the 1H21. In the second quarter of 2022, Northern Region Cement Co reported net profits after zakat and tax worth SAR24.74m, up 17.6 per cent YoY from SAR21.04m in the 2Q21. Revenues decreased by 8.2 per cent YoY to SAR133.42m from S...

Caribbean Cement reports drop in 2Q profit

05 August 2022, Published under Cement News

Jamaica-based Caribbean Cement posted operating profit of US$28.2m in the 1H22, representing a two per cent drop YoY from US$28.8m. Net profit also slipped by two per cent YoY to US$19.7m, despite a 10 per cent increase YoY in sales to US$85.5m in the 2Q22. The drop in earnings was attributed to increased operational expenses during a downturn in the global economy.

Ramco Cements 1Q net profit falls 34%

03 August 2022, Published under Cement News

Indian cement producer The Ramco Cements saw its revenue from operations expand by 44 per cent to INR17.72bn (US$225.5bn). The company reported a stand-alone net profit of INR1.127bn in the 1Q22, down 34 per cent YoY as input and raw material costs spiked. “EBIDTA for Q1 this fiscal is INR308 crore [INR3.08bn] against INR370 crore [INR3.7bn] during Q1 last year with de-growth of 17 per cent, mainly due to sharp increase in fuel price and weak cement prices. The industry could not pass on...

Star Cement 1Q net profit drops 24%

03 August 2022, Published under Cement News

India-based Star Cement has seen its net profit decline by 23.7 per cent YoY to INR413.2m (US$5.23m) in the first quarter of FY22-23 (ended 30 June 2022) when compared with a net profit of INR541.8m in the year-ago period. Net revenue increased by 28.7 per cent to INR6.393bn in the 1QFY22-23 from INR5.044bn in the 1QFY21-22. Operating expenses were up by 32.7 per cent YoY to INR5.721bn in the 1QFY22-23. Other income advanced y 32 per cent YoY to INR83.4m. Operating profit edged up by 5...