Cement News tagged under: financial business results
HeidelbergCement Bangladesh reported a net profit of BDT459m in 202326 April 2024, Published under Cement NewsAccording to HeidelbergCement Bangladesh Ltd ’s (HB) 2023 annual report, the company successfully manufactured and distributed a combined total of 2.185Mt of cement through its three strategically-positioned plants in Kanchpur, Chittagong, and Mukterpur. This quantity represents a marginal 1.2 per cent decline compared to the aggregate sales volume achieved in 2022. Notably, the company’s overall sales volume decreased by 28,000t compared to the preceding year. HB reported a net profit of ... |
Bestway Cement posts a fall in profit in 9MFY23-2419 April 2024, Published under Cement NewsBestway Cement Ltd (BWCL) announced its 3QFY23-24 (January-March 2024) and 9MFY23-24 (July 2023-March 2024) results on the Pakistan Stock Exchange (PSX) on 17 April 2024. The company’s net earnings stood at PKR10.31bn (US$37m) in the 9MFY23-24, down by 11.4 per cent YoY. The high cost of finance and expensive sales can be attributed to the lower profits during this period. During this period, its gross sales increased by 27.1 per cent to PKR112.11bn from PKR88.22bn. It incurred a distri... |
Buzzi SpA's 2023 regional results see cement sales climb in Italy03 April 2024, Published under Cement NewsBuzzi SpA reported domestic hydraulic binders and clinker sales in Italy up 2.1 per cent in 2023, while the ready-mix concrete output slightly declined 1.4 per cent. The average prices of cement and concrete confirmed their improvement compared to the previous period. Such trend in volumes and prices led to net sales of EUR818.3m, up 12.7 per cent (EUR726.2m in 2022). Ebitda achieved EUR175.2m, more than doubled compared to EUR82m of last year. USA US cement sales closed the year sli... |
Buzzi SpA reports consolidated cement sales of 26Mt in 202302 April 2024, Published under Cement NewsIn 2023 Buzzi SpA reported consolidated cement sales of 26.343Mt, down seven per cent compared to 2022. The generalised slowdown in deliveries, which has been already highlighted during the first half of the year, continued also during the following quarters, particularly in central Europe, Poland and the Czech Republic, where the residential sector significantly weighed on demand. In Italy and the United States sales volumes showed some resilience. Ready-mix concrete sales amounted to ... |
Power Cement saw losses in 1HFY23-2419 March 2024, Published under Cement NewsPower Cement Ltd released its half-yearly financial report ending on 31 December 2023, wherein the company reported sales revenue at PKR16.84bn (US$60.23m), representing an increase of 33 per cent compared to the same period last year. The gross profit for the first half of FY23-24 surged to PKR3.95bn, indicating a growth of around 43 per cent compared to the first half of FY22-23. In the face of lower export prices, increased electricity prices and other challenges on the cost side, th... |
Titan reports record EBITDA growth of EUR540m in 202318 March 2024, Published under Cement NewsTitan reported record EBITDA in 2023 reaching EUR540.3m, up by 63.1 per cent, achieving margin expansion. All regions posted double-digit profitability growth, thanks to increased sales across all main products, firm pricing, operational efficiencies and improved performance of energy costs, said a company statement. Group sales in 2023 totalled EUR2547m, a 11.6 per cent increase compared to the previous year, while EBITDA grew by 63.1 per cent YoY, reaching EUR540.3m. The group's net profi... |
Flying Cement Co posts a profit rise of 23% during 1HFY23-2413 March 2024, Published under Cement NewsFlying Cement Co Ltd has released detailed interim financial statements for the 1HFY23-24, which ended 31 December 2023. The company earned a net profit after tax of PKR170.95m (US$0.612m) when compared with PKR138.85m in the 1HFY22-23, up by 23.1 per cent YoY due to increased sales (PKR2.36bn) during this period. Yet, it incurred a higher borrowing cost of PKR112m and taxation of PKR74.38m in the accounting period. Outlook Ongoing challenges remain higher energy costs, transportati... |
Pioneer Cement’s profit expanded by 49% in 1HFY23-2404 March 2024, Published under Cement NewsPioneer Cement Ltd announced its 1HFY23-24 result on the Pakistan Stock Exchange (PSX) website on 28 February 2024, where the company posted a profit after tax (PAT) of PKR2.62bn (US$9.38m) compared to PKR1.76bn in the equivalent period last year. This translates into a growth of 49.1 per cent YoY on the back of reduced financial costs and an increase in other income. Its sales (gross revenue) increased to PKR18.82bn from PKR18.64.08bn in financial year-ago period. The company incurred a ... |
DG Khan Cement's profit increased by 13% in 1HFY23-2401 March 2024, Published under Cement NewsDG Khan Cement Co Ltd (DGKC) announced its financial results for the half year ended 2023-24 on 26 February 2024. Its net profit after taxation increased by 13.2 per cent YoY to PKR1.05bn (US$379.2m). The rise in profit can be attributed to higher sales or 17 per cent during these six months ending on 31 December 2023. Its net sales increased to PKR34.78bn from PKR29.76bn during this period. It incurred a distribution cost of PKR1.20bn (a 136 per cent rise) against PKR508m and administ... |
Thatta Cement reports profit in 1HFY23-2427 February 2024, Published under Cement NewsPakistan cement producer Thatta Cement Co Ltd (THCCL) has announced its financial results for the half year ended 31 December 2023 (July-December 2023) on the website of the Pakistan Stock Exchange (PSX). Its reported profit after tax was PKR358m (US1.28m) against a loss of PKR6.2m in the corresponding period last year. The recovery from losses can be attributed to higher sales and significant improvement in gross profit during this period. THCCL's net sales increased to PKR3.12bn from PK... |