Cement News tagged under: business results

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Anhui Conch reports drop in profit in 2021

28 March 2022, Published under Cement News

China-based Anhui Conch saw its profit slip to CNY33.3bn (US$5.2bn) in 2021 when compared with CNY35.19bn in the previous year, according to Dow Jones Newswires. The company’s revenue in 2021 declined to CNY167.95bn, down from CNY176.29bn in 2020, as market demand softened. Anhui Conch said it expects to continue to face low market demand this year, as well as high raw material and energy costs.

Oman Cement Co reports OMR4.447m net profit

18 March 2022, Published under Cement News

Oman Cement Co posted a net profit of OMR4.447m (US$11.57m) for 2021, representing a growth in its commercial activities despite the economic impact of COVID-19. Eng Salem Bin Abdullah al Hairi, CEO of Oman Cement, said that these results have been achieved due to a number of policies implemented meet the higher demand and despite the strong competition that was witnessed in the market, not only from local cement companies but also from imported cement brands. In 2021 the company produ...

Taiwan Cement posts 31% rise in February revenue

14 March 2022, Published under Cement News

Taiwan Cement Corp reported a revenue of TWD5456m (US$192.1m), up 30.7 per cent YoY when compared with TWD4173m in February 2021. For the 2M22 the company’s revenue increased 5.8 per cent to TWD12,974m from TWD12,258m.

Chia Hsin Cement reports 14% drop in 2M22 revenue

14 March 2022, Published under Cement News

Taiwan-based Chia Hsin Cement posted a 7.6 per cent fall in revenues in February 2022, declining from TWD145m (US$5.1m) in February 2021 to TWD134m. In the first two months of 2022, the company’s revenue fell by 14.2 per cent to TWD292.1m from TWD340.6m in the 2M21.

Loma Negra sees 37% drop in net profit in 4Q21

08 March 2022, Published under Cement News

Argentina-based Loma Negra , owned by I ntercement do Brazil SA ,  reported a 37.4 per cent fall in net profit to ARS2795m (US$25.8m) in the fourth quarter of 2021. Revenues from sales in the 4Q21 declined 3.8 per cent YoY to ARS19,257m, driven by a decrease in cement sales and only partially offset by improved sales in aggregates and the company’s railway business. However, bagged sales remained robust on the back of solid demand from the retail market. Retail demand kept its strong p...

Yanbu Cement profits drop 43% in 2021

07 March 2022, Published under Cement News

Yanbu Cement saw its revenue slip to SAR934m (US$249.1m) in 2021 from SAR940m in 2020. As selling prices fell, net profit decreased 43 per cent to SAR160m in 2021 from SAR281m in the previous year, according to a bourse filing. An increase in general and administrative expenses also contributed to the decline in profit.

Power Cement reports 82% YoY rise in 1H net profit

02 March 2022, Published under Cement News

Power Cement posted a 43.6 per cent increase in revenues to PKR5162m (US$29.1m) in the quarter ended 31 December 2021 (2QFY21-22), up from PKR3595m m in the 2QFY20-21. Operating profit saw a 37.3 per cent hike to PKR961m in the 2QFY21-22 from PKR700m in the equivalent period of the previous year. Net profit  advanced 96.7 per cent YoY to PKR471m in the 2QFY21-22 from PKR239.4m. Half-year results In the half year ended 31 December 2021, Power Cement saw its revenues increase by 35.7 pe...

Arabian and Najran Cement take drop in net profits

02 March 2022, Published under Cement News

Arabian Cement Co posted revenues of SAR1003m  (US$267.5m) in 2021, up 18.5 per cent YoY from SAR871.9m. However, the company saw its net profit after zakat and tax decline by 12.6 per cent to SAR161.5m in 2021 from SAR184.9m in 2020. Meanwhile, Najran Cement Co reported a 6.7 per cent drop in revenues to SAR581.6m in 2021 from SAR623.2m in 2020. Its net profits after zakat and tax fell 17.6 per cent YoY to SAR165.54m in 2021 from SAR200.94m in 2020.

Dewan Cement returns to profit in 2QFY21-22

01 March 2022, Published under Cement News

Pakistan-based Dewan Cement Ltd posted a turnover of PKR4149.6m (US$23.4m) in the quarter ended 31 December 2021 (2QFY21-22), up from PKR931.6m in the 2QFY20-21. In the 2QFY21-22, the company achieved an operating profit of PKR68.8m, an improvement when compared with the PKR334.5m loss in the 2QFY20-21. Net profit reached PKR130.7m, up from a loss of PKR266.6m in the equivalent period of the previous year.

East African Portland Cement narrows half-year loss

01 March 2022, Published under Cement News

Kenya-based East African Portland Cement Co , owned by Holcim , has narrowed its half-year loss to KES907.1m (US$8m) in the six months to December 2021 from KES1.035bn in the equivalent period of the previous year. This was achieved despite a decline in the company’s revenues to KES967.7m in the 1HFY21-22 from KES1.4bn in the 1HFY20-21. The company attributed the improved loss result to a cost containment drive. Administration and selling expenses were down by nearly two per cent to KE...