Cement News tagged under: business results
Lafarge Africa PLC returns to profit in 201916 April 2020, Published under Cement NewsLafarge Africa PLC has reported revenues of NGN213bn (US$551.5m) for the year ended 31 December 2019 as against NGN218bn in 2018. Operating expenses fell from NGN29.89m to NGN23.42m. Financing costs also declined from NGN41.6bn to NGN20.2bn. The company ended 2019 with a profit after tax of NGN15.5bn compared with a loss of NGN8.1m in 2018. Lafarge Africa also reduced its debt from NGN208bn in 2018 to NGN52.6bn in 2019, while total equity jumped from NGN135bn to NGN345bn in 2019. Speak... |
Steppe Cement 1Q20 cement sales fall by 11%16 April 2020, Published under Cement NewsIn the 1Q20 Steppe Cement Ltd sold 235,896t of cement for KZT4003m (US$9.4m) compared to 266,393t in the 1Q19, a decline of 11 per cent. Kazakhstan's cement market increased in 1Q20 by 15 per cent over the corresponding period of the previous year. The company maintained pricing over volumes in the 1Q20 but saw its market share decrease to 13.3 per cent from 17.4 per cent in the 1Q19. The average price for delivered cement in the 1Q20 was KZT16,970/t, compared with KZT16,723/t in the 1Q... |
Gulf Cement to delist from Boursa Kuwait07 April 2020, Published under Cement NewsAt its ordinary general meeting, Gulf Cement Co has approved the board’s proposal to delist from Boursa Kuwait. In addition, the company will not to distribute dividends for 2019 due to the current circumstances, changes in international economics, and continuous competition in local and foreign markets, according to Mubasher. The company also reported that Kuwait’s cement sector has incurred major damages due to continuous oversupply and weakening demand, alongside the increasing pric... |
Cement sales on Fiji impacted by coronavirus06 April 2020, Published under Cement NewsFijian cement producer Pacific Cement Ltd reported cement sales declined by 27 per cent YoY in March. The company has lost an estimated US$750,000 in sales, according to General Manager, Sowani Tiudrola. Reduced market demand has resulted in Fiji Cement selling 3000t less. Standard Concrete Industries also said market demand was 50 per cent down in March. The company has closed its Lautoka plant and its staff have been advised to take their leave until further notice, reported Fijian Broa... |
Adelaide Brighton pulls 2020 profit guidance02 April 2020, Published under Cement NewsAustralia’s Adelaide Brighton has pulled its 2020 profit guidance due to the economic uncertainty resulting from the coronavirus pandemic, but noted it has AUD450m (US$274.55m) in cash and undrawn bank facilities. According to the company’s webpage, it still has no known cases of COVID-19 across its business. "All our 130+ locations remain open for business and we are well stocked with raw materials to meet the needs of all our valued customers. We’ll continue to meet with our customers to... |
Ambuja Cement of India profit grows in FY1902 April 2020, Published under Cement NewsAmbuja Cement Ltd of India has reported an increase in total income of 3.1 per cent and profit after tax (PAT) advance of 2.8 per cent during FY19, despite an increase of 0.6 per cent in operating expenses, according to detailed stand-alone financial result released recently. The total income increased to INR120.94bn (US$1.586bn) in 2019 from INR117.32bn in the year-ago period. PAT reached to INR15.29bn in 2019 from INR14.78bn in 2018. Operating expenses increased from INR94.65bn in 2018 t... |
China Tianrui Group Cement Co reports 50% rise in FY profit02 April 2020, Published under Cement NewsChina Tianrui Group Cement Co has posted for 2019 an attributable profit of CNY1.819bn (US$256m), up 50 per cent when compared with 2018. The company’s full-year revenues increased by 20.1 per cent YoY to CNY12.088bn, according to Reuters. |
China Resources Cement sees 8% increase in net profit30 March 2020, Published under Cement NewsChina Resources Cement Holdings has reported an 8.1 per cent increase in net profit to HKD8.62bn (US$1.11bn) for 2019. Revenue inched up 0.4 per cent YoY to HKD38.96bn. The company attributed the improved profit margins to lower costs for cement sales. Since the company's principal business area is in mainland China, the yuan's weakness against the Hong Kong dollar in 2019 lowered the company's revenue in HKD terms. |
LafargeHolcim implements coronavirus action plan27 March 2020, Published under Cement NewsLafargeHolcim has announced the implementation of its action plan regarding the coronavirus pandemic, stating that it is closely monitoring all markets and the guidance provided by the authorities in each country. "In China, the recovery of the construction sector has started and all our plants outside of Hubei Province are operating. We forecast the market demand to further recover and to supply 70 per cent of last year’s volume in April 2020. In most of the other key markets, the constr... |
Votorantim Cimentos records 3% rise in 2019 revenue27 March 2020, Published under Cement NewsBrazil-based Votorantim Cimentos has seen a three per cent rise in consolidated net revenue to BRL13bn (US$2.61m) in 2019, compared to BRL12.6bn recorded in the previous year. Consolidated EBITDA saw a modest increase of one per cent YoY to BRL2.7bn from BRL2.6bn, with a margin of 20 per cent (21 per cent in 2018). Brazil Net revenue in the company’s domestic market was up four per cent from BRL6.6bn in 2018 to BRL6.8bn in 2019, mainly due to higher volumes and prices in the cement market... |