Cement News tagged under: business results

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Lucky Cement reports fall in profit by 62% in 1QFY20

31 October 2019, Published under Cement News

Lucky Cement Ltd of Pakistan has announced its financial results for the 1QFY20 ended September 2019. It posted a net profit after tax of PKR955.8m (US$6.1m) as compared to PKR2.492bn earned in the same quarter last year, which is contracted by 62 per cent.  Apparently, fewer sales to PKR13.92bn from PKR6.01 during this period was one of the factors, besides company attributes it to adverse pricing and cost inputs in addition to higher distribution cost. The company sustained a hi...

Asia Cement (China) Holdings Corp posts 40% 9M profit rise

30 October 2019, Published under Cement News

Asia Cement (China) Holdings Corp has reported a 16.3 per cent advance in revenues to CNY9.18bn (US$1.299bn) in the 9M19 when compared with CNY7.89bn in the 9M18, according to Reuters. Attributable profit came in at CNY2.24bn in the nine-month period, representing a 40 per cent increase YoY from CNY1.6bn. Cementitious sales are expected to reach 30.9Mt in the FY19.

Tanga Cement sees 1H sales slip 1%, net loss widens

30 October 2019, Published under Cement News

Tanzania-based Tanga Cement saw its first-half sales edge down by one per cent YoY to TZS97.63bn (US$42.4m) in 2019 from TZS98.88bn in the1H18, according to the company’s unaudited results for the six months ended 30 June 2019. Gross profit fell to TZS24.98bn in the 1H19 from TZS25.56bn in the year-ago semester while operating profit declined to TZS1.17bn from TZS6.77bn over the same period. Net loss widened from TZS1.79bn in the first six months of 2018 to TZS10.23bn between January-June...

FLSmidth records 3Q19 order intake down 36%

29 October 2019, Published under Cement News

FLSmidth's order intake for the 3Q19 amounted to DKK4571m (US$704.5m), a decline of 36 per cent compared to the 3Q18. The performance is explained by a sharp decline in the capital order intake that was partly offset by a record-high service order intake, combined with the exceptionally strong comparative quarter in 2018 that included two large cement plant orders worth a total of about DKK1.9bn. The order backlog decreased to DKK16,088m from DKK16,762m at the end of 2Q19. The market for ...

Cemex Philippines reports 9M net profit

29 October 2019, Published under Cement News

Cemex Holdings Philippines Inc posted a net income of PHP875m (US$17.1m) in the first nine months of 2019, a reversal from the 9M18 loss of PHP663m as operating margins increased, income tax expenses were lower and the company gained in its foreign exchange transactions. Nine-month sales were up two per cent in 2019 to PHP18.2bn, said the company in a stock exchange filing. Domestic volumes declined six per cent in the 3Q19 due to a fall in construction activity, mainly in the public secto...

Arabian Cement 3Q profit triples

29 October 2019, Published under Cement News

Arabian Cement Co saw its net profits after zakat and tax surge to 320.8 per cent to SAR60.6m (US$16.2m) in 3Q19, compared to SAR14.4m in the 3Q18, reports Mubasher. Revenues of the Saudi cement company increased 64.1 per cent to SAR193.5m in the three-month period ended September. In 3M18 revenues reached SAR117.9m. In the first nine months of 2019, Arabian Cement achieved net profits of SAR135.1m, a considerable improvement when compared with losses of SAR42.5m in the year-ago period. ...

Cement Co of Nigeria doubles 9M revenues

29 October 2019, Published under Cement News

Cement Co of Nigeria saw 9M revenue advance 117.2 per cent to NGN42.51bn (US$5.3bn) in 2019 from NGN19.57bn in the 9M18, reports Reuters News. In addition, the company posted a 9M profit before income taxes of NBN11.68bn, up 103.8 per cent when compared with NGN5.73bn in the 9M18. Cement Co of Nigeria markets its cement under the Sokoto Cement brand name. The company is majority-owned by BUA International Ltd.

Carthage Cement reports 7% rise in 9M revenues

29 October 2019, Published under Cement News

Tunisia-based Carthage Cement saw total turnover increase by seven per cent YoY to TND183m (US$64.6m) in the 9M19 from TND171m in the 9M18, according to African Manager. Turnover in the domestic market advanced 42 per cent YoY, improving the company’s market share to 23 per cent from 17 per cent in the previous-year’s nine-month period. The cement company increased its clinker and cement production by 11 and 22 per cent, respectively, when compared with the 9M18. However, aggregates output...

LafargeHolcim

28 October 2019, Published under Cement News

LafargeHolcim has reported net sales of CHF7142m (US$7181m) for the third quarter of 2019, compared to CHF7362m in the same period a year earlier, marking a 4.9 per cent uptick on a life-for-like (LfL) basis. Recurring EBITDA over the same period stood at CHF1881m, up 6.4 per cent LfL from the CHF1867m reported in the 3Q18.  “Q3 is the fifth consecutive quarter of over-proportional growth in profitability and we are on track to achieve all targets for 2019,” said Jan Jenisch, CEO, Lafarge...

PT Indocement

28 October 2019, Published under Cement News

In the first nine months of 2019, PT Indocement has reported cement sales volumes of 12.8Mt. Although this marks a decline of 1.9 per cent YoY, it has still fared better than the Indonesian cement industry as a whole, which has fallen by 2.2 per cent YoY over the same period. However, September this year saw sales advance by 6.2 per cent compared to the previous month. Looking ahead to the final quarter of the year, the company remains confident due to a downward trend in bank interest ra...