Cement News tagged under: business results

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Taiwan Cement Corp announces 3% revenue decline in July

07 August 2020, Published under Cement News

Taiwan Cement Corp has seen a three per cent YoY decline in revenue for July 2020, falling to TWD10.18bn (US$346m) from TWD10.49bn in July 2019. In the first seven months of 2020, revenue has decreased 6.8 per cent YoY to TWD62.6bn from TWD67.2bn.

City Cement reports 12% increase in net profit

07 August 2020, Published under Cement News

Saudi Arabia’s City Cement saw a 12.2 per cent rise in net profit to SAR36.2m (US$9.65m) in the second quarter of 2020, compared with SAR32.25m in the corresponding period of last year.  The higher profits have been attributed to a growth in sales and other revenues, alongside a decline in costs. The company also reported a 44.8 per cent increase in net profit after zakat to SAR106.66m for the 1H20, against SAR73.67m in the first half of 2019.

JK Lakshmi sees 13% rise in net profit

07 August 2020, Published under Cement News

India’s JK Lakshmi Cement posted a 12.9 per cent increase in net profit to INR446.4m (US$5.96m) for the 1QFY20-21, compared with INR395.4m last year. However, it noted that sales volumes were severely impacted by lockdown restrictions. Sales saw a 21 per cent decline to INR8.25bn from INR10.42bn in the 1QFY19-20. EBITDA was also down 14 per cent YoY to INR1.52bn. The company noted the importance of cost savings in improving its operating margins. "To reduce the power cost, the company ...

Argos achieves revenues of COP2.1trn in 2Q20

06 August 2020, Published under Cement News

From April to June 2020, Argos, part of Grupo Argos, reported revenues of COP2.1trn (US$553.5m), which represents a contraction of 9.1 per cent compared to the same quarter of last year. These figures were caused in part by lower volumes associated with lockdowns and the mandatory closings of operations in many markets. Argos partially offset the decrease in volumes thanks to the resilience of the construction industry in the USA and the exchange rate of the Colombian peso, which continued...

SCG sees dip in Vietnam's revenue from sales

06 August 2020, Published under Cement News

Thailand’s Siam Cement Group (SCG) has seen its revenue from sales in Vietnam drop five per cent YoY to VND13.1trn (US$564.6m) in the first half of 2020, according to Vietnam News. The figure accounted for 8.8 per cent of SCG’s total revenue during the six-month period. In the 2Q20, its revenue from sales in the country reached VND7trn, equivalent to 40 per cent of the total revenue from ASEAN markets, excluding Thailand, compared to 30 per cent in 2019.

Sumitomo Osaka Cement posts 11% revenue fall

06 August 2020, Published under Cement News

Japan’s Sumitomo Osaka Cement has reported a 11.2 per cent YoY fall in revenue to JPY52.35bn (US$495.7m) in the quarter ending 30 June, against JPY58.92bn in the corresponding period of last year. Net profit also declined nine per cent YoY to JPY1.92bn from JPY2.11bn. Sumitomo Osaka Cement is Japan's third-largest cement producer. The company operates around 10.5Mta of cement capacity and 8.4Mta of clinker capacity at four integrated plants.

South Valley Cement sees net loss widen 7% in 1Q20

06 August 2020, Published under Cement News

Egypt’s South Valley Cement Co saw its net loss widen seven per cent YoY to EGP41.39m (US$2.59m) in the first quarter of 2020, against an EGP38.45m net loss in the 1Q19. The announcement comes after the company reported a total net loss of EGP316m for 2019.

Caribbean Cement sees 2% increase in revenue

06 August 2020, Published under Cement News

Jamaica’s Caribbean Cement has seen a two per cent YoY increase in revenue to JMD4.8bn (US$32.62m) for the second quarter of 2020. Earnings before tax climbed 55 per cent to JMD1bn from JMD0.7bn in the 2Q19, while net income surged 41 per cent YoY to JMD0.5bn. “While it is still very early to fully evaluate the long-term effects of COVID-19 on our operations, we believe that this event has made us a stronger and more efficient organisation,” said Parris A Lyew-Ayee, chairman.

Buzzi Unicem's 1H20 cement and clinker sales fall 3%

05 August 2020, Published under Cement News

Buzzi Unicem reports that group cement and clinker sales declined 3.4 per cent in the 1H20. The drop in volumes was concentrated in Italy and eastern Europe, due to the spread of the pandemic and to the associated restrictions on economic activity. In central Europe shipments were only slightly below the level reached in the same period of 2019. There was strong performance in the USA, despite the increasing challenges presented by COVID-19. Net sales achieved in the half year were substant...

Ssangyong Cement reports 6% drop in net profit

05 August 2020, Published under Cement News

South Korea’s Ssangyong Cement has reported a six per cent YoY decline in net profit to KRW53.7bn (US$45.1m) in the second quarter of 2020, compared to KRW57.1bn in the year-ago period. However, operating income advanced 7.5 per cent to KRW90.7bn from KRW84.4bn. Revenue fell 9.2 per cent YoY to KRW385.2bn in the 2Q20.