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Sephaku Holdings reports net loss in 1HFY19-20

15 November 2019, Published under Cement News

South Africa’s Sephaku Holdings has reported a loss of ZAR7.7m (US$521,582) for the six months ending 30 September 2019, compared with a ZAR26.5m net profit in the year-ago period. In particular, Sephaku Cement (Dangote Cement) announced a ZAR21.6m net loss against a ZAR44.9m profit in the corresponding period of the previous fiscal. Sales revenue decreased 16.9 per cent YoY to ZAR996.9m from ZAR1.2bn, while its EBITDA fell 40.7 per cent to ZAR151.5m. "The operating landscape had result...

Sinai Cement sees net loss widen 30% YoY

15 November 2019, Published under Cement News

Egypt’s Sinai Cement has seen its net loss widen 30 per cent YoY to EGP331.22m (US$20.53m) during the first nine months of 2019, compared to EGP293.14m in the 9M18. The cost of sales also showed a modest 3.7 per cent increase to EGP699.931m from EGP675.11m. In the 1H19 the company’s consolidated loss widened to EGP187.23m from EGP155.74m in the corresponding period of 2018.

Thai Boon Roong Cement plant is inaugurated

15 November 2019, Published under Cement News

Cambodia inaugurated its fifth cement plant yesterday when Thai Boon Roong Cement plant's start-up was celebrated in southwest Kampot, Cambodia. The US$110m intergated cement plant will add 1Mta or 2500tpd to the country's cement capacity.  The plant is built on 678ha of land. The inauguration was carried out by Prime Minister, Samdech Techo Hun Sen, who said  "It is the fifth cement plant in Cambodia, bringing the total cement production capacity in the kingdom to about 8Mta." Minister of...

Misr Cement (Qena) records 67% net profit decline

15 November 2019, Published under Cement News

Egypt’s Misr Cement (Qena) has recorded a 67 per cent YoY net profit fall to EGP29.7m (US$1.84m) during the first nine months of 2019, compared to EGP89.42m in the year-ago period. However, sales increased 5.9 per cent YoY to EGP2.36bn from EGP2.22bn. In its standalone results, the company saw a 68.9 per cent YoY decline in net profit to EGP21.8m in the 9M19.

Cementir sales advance in most areas, but net profit falls

14 November 2019, Published under Cement News

Cementir's turnover for the first nine months of 2018 improved by 1.5 per cent to EUR906.12m and EBITDA advanced by 11.6 per cent to EUR181.84m. However, the trading profit eased by 2.8 per cent to EUR103.5m reflecting the application of IFRS 16. After a net financial charge profit of EUR19.8m compared with a EUR32.4m profit, the pretax profit fell by 39.7 per cent to EUR83.7m. Net debt at the end of September was EUR346.3m, slightly higher than the EUR339.6m reported a year earlier. The ...

CRH reportedly looks to sell Philippine operations

14 November 2019, Published under Cement News

CRH is reportedly considering a sale of its Philippine cement business as the company seeks to raise cash by selling non-core assets, according to the Irish Independent. JP Morgan Chase is said to be assisting with finding a buyer for the operations, which could be valued between US$2-3bn. The company is currently receiving bid interest from Asia and Europe. However, the plans are still at a preliminary stage and no final decision has been made. CRH acquired Philippines-based Republic Cem...

Alexandria Portland Cement sees net losses narrow in 9M19

14 November 2019, Published under Cement News

Egypt’s Alexandria Portland Cement has seen its consolidated net losses narrow by 61 per cent YoY to EGP96.58m (US$5.98m) during the first nine months of 2019, compared with losses of EGP245.7m recorded in the year-ago period. However, sales decreased by 26 per cent YoY to EGP1.636bn from EGP2.21bn. The company’s standalone losses also improved from EGP162m to EGP72m in January-September 2019.

Bestway Cement to appoint new directors

14 November 2019, Published under Cement News

Bestway Cement Ltd of Pakistan has announced holding of extraordinary general meeting of the company on 5 December 2019 to elect eight directors for the next term of three years.   The new eight member’s team of directors would replace retiring directors namely, Mohammed Anwar Pervez, Muhammad Irfan Anwar Sheikh, Muhammed Younus Sheikh, Haider Zameer Choudhrey, Zameer Mohammed Choudhrey, Dawood Pervez, Njma Naheed Pirzada and Nazib Nazir.

Varied results for PSX listed cement producers in 1QFY19-20

13 November 2019, Published under Cement News

The financial results of eight cement companies of Pakistan for the July-September 2019-20 period reveals that their profits shrank owing to weak sales, high financial charges and other unavoidable factors, with a few of them also sustaining losses.   Industry overview In the 1QFY19-20 Pakistan's cement industry posted a marginal growth of 2.6 per cent, amounting to 11.13Mt compared with 10.85Mt last year. Local dispatches remained more or less the same, rising to 9.12Mt from 9.06Mt in th...

Lebap Cement Factory exports 0.24Mta

13 November 2019, Published under Cement News

Turkmenistan-based Lebap Cement Factory, owned by Polimeks Insaat, exported around 0.24Mta of cement, or 32.5 per cent of its production, in the first 10 months of 2019, according to Business Turkmenistan. The 1.4Mta cement plant also achieved an output of 0.739Mt, valued at over TMT109m, between January-October 2019. It produces sulphate-resistant M-400 and M-500 cement. Last year, it produced more than 0.935Mt of cement.