Cement News tagged under: business results
Breedon reports positive 1Q trading update27 April 2023, Published under Cement NewsBreedon Group plc posted a positive trading update for the first quarter of 2023. It attributes the good result to its dynamic pricing strategy, which allowed the group to recover costs and offset expected volume softness. Revenue saw a 10 per cent advance YoY, or by seven per cent on a like-for-like basis (adjusted for the impact of acquisitions and disposals). Breedon’s CEO, Rob Wood, said ”Our performance in the first quarter demonstrates the resilience and flexibility of our team an... |
GCC reports 146% surge in 1Q net income26 April 2023, Published under Cement NewsGCC SAB de CV posted its first-quarter 2023 consolidated sales, which saw a 17.9 per cent YoY increase to US$243.9m. EBITDA in the 1Q23 advanced 15.5 per cent YoY to US$63m. The EBITDA margin of 25.8 per cent, slightly lower than the 26.4 per cent posted in the 1Q22. Net income saw a 146.4 per cent improvement YoY to US$32.4m in the 1Q23, up from US$13.1m in the 1Q22. Enrique Escalante, GCC's CEO, said: "GCC delivered solid results for the first quarter despite significant weather disrup... |
Indocement sees 3% rise in profit in 202205 April 2023, Published under Cement NewsPT Indocement Tunggal Prakarsa Tbk (INTP), part of Heidelberg Materials , reported a profit of IDR1.84trn (US$123.2m), up three per cent YoY, in 2022. Net revenue was up 10.5 per cent to IDR16.32trn when compared with 2021, when net revenue reached IDR14.77trn. INTP’s cement sales to third parties in 2022 saw a 9.9 per cent YoY increase to IDR14.75trn, while ready-mixed concrete sales advanced 20.9 per cent YoY to IDR1.29trn. However, aggregate sales were down 48 per cent YoY to IDR19.7... |
UltraTech sees 12% hike in sales volume in FY22-2304 April 2023, Published under Cement NewsUltraTech Cement , part of Aditya Birla Group , has reported a 12 per cent advance in consolidated sales volume, including its overseas operations in UAE, Bahrain and Sri Lanka, to 106Mt in the FY22-23, ending March 2023. In the 4QFY22-23 sales volumes were up 15 per cent YoY to 30Mt from 26Mt while consolidated sales increased by 14 per cent YoY to 32Mt from 28Mt. |
Ciments du Maroc posts 25% drop in net profit in 202231 March 2023, Published under Cement NewsMorocco-based Ciments du Maroc , part of Heidelberg Materials , has reported a turnover of MAD4.043bn (US$395.4m) in 2022, representing a decrease of 2.1 per cent YoY from MAD4.128bn. The construction sector in Morocco was impacted by a significant slowdown in 2022, which worsened in the second half of the year, due to the global geopolitical context and draught affecting the country’s agricultural sector. Operating profit reached MAD1.327bn in 2022, down 18.1 per cent YoY from MAD1.62bn... |
LafargeHolcim Maroc reports 31% drop in net income24 March 2023, Published under Cement NewsLafargeHolcim Maroc , part of the Holcim group, posted a 2.6 per cent YoY decrease in consolidated turnover to MAD7.98bn (US$776.5m) in 2022. Sales volumes of the company contracted and were only partially offset by higher clinker sales and the increase in the average selling price. Moroccan cement demand declined by 10.6 per cent in as inflation impacted the economy. Current operating income reached MAD2.69bn in 2022, down 23 per cent YoY, due to the drop in cement sales and the rise in... |
Eastern Province Cement FY profit sees 26% drop21 March 2023, Published under Cement NewsFull-year sales of Saudi Arabia’s Eastern Province Cement advanced 3.4 per cent to SAR784m (US$209.1m) in 2022 to SAR758m in the year-ago period. Net profit after zakat and tax was down 25.9 per cent to SAR143m in 2022 from SAR193m a year ago as financing, precast sales, general and administrative, and general and selling expenses, and other expenses all increased. Meanwhile, Eastern Province Cement has invited bids from specialist companies for the establishment of a new clinker prod... |
Northern Region Cement posts 5% increase in 2022 net profit21 March 2023, Published under Cement NewsRevenues of Northern Region Cement Co in Saudi Arabia increased by 10 per cent to SAR617.95m in 2022 from SAR561.91m in 2021. Net profits after zakat and tax advanced 5.4 per cent YoY to SAR112.45m from SAR106.67m in 2021. Earnings per share increased to SAR0.62 on 31 December 2022, up from SAR0.59m in the previous year. Appointments The company also announced Sulaiman Salim Al Harbi and Faisal Hamad Al Sugar as the new chairman and vice-chairman of the board, respectively for the ... |
City Cement reports drop in net profit in 202221 March 2023, Published under Cement NewsSales of Saudi-Arabia-based City Cement saw a 13.1 per cent fall to SAR431.4m (US$115m) in 2022 from SAR496.7m in 2021, reports Reuters. Net profit after zakat and tax was down 28.3 per cent YoY to SAR115m from SAR160.3m in 2021. City Cement operates a 5.28Mta integrated cement plant at Marat , northwest of Riyadh in central Saudi Arabia. |
PPC expects drop in South Africa and Botswana sales volumes17 March 2023, Published under Cement NewsSouth Africa-based PPC forecasts a 4-7 per cent drop in sales volumes in its domestic market and Botswana for the 12 months ending 31 March 2023, according to Reuters. To protect and restore its EBITDA margins it plans further cost reduction measures across its portfolio. Capital expenditure for South Africa and Botswana is expected to be in the range of ZAR280m-310m (US$15.25m-16.89m) for the FY22-23. The company expects net debt in the two countries to be between ZAR725m-775m at year-... |