Cement News tagged under: financial business results
Malayan Cement boosts YTL Corp's FY24 results28 August 2024, Published under Cement NewsYTL Cop Bhd posted a net profit slipped to MYR534.48m in the fourth quarter ended 30 June 2024 (4Q24) compared with MYR548.03m in the previous corresponding period, while revenue in 4Q24 dipped to MYR8.27bn from MYR9.21bn a year earlier. In a statement, executive chairman Tan Sri Francis Yeoh Sock Ping said the strong set of results was contributed by all business segments across the board, anchored by the utilities and cement divisions, with the construction, property, hotels and managemen... |
Cherat Cement reported an increase in profit by 25% in FY23-2423 August 2024, Published under Cement NewsCherat Cement Co Ltd of Pakistan has announced its financial results for the year ended 30 June 2024. It reported an increase in profit after tax to PKR5.49bn (US$) from PKR4.40bn earned in the corresponding period last year. This reflects a growth of 24.9 per cent YoY, which was possible during this period due to higher sales, according to financial results posted on the Pakistan Stock Exchange (PSX) on 22 August 2024. The fall in financial cost also contributed to a strong profit. The... |
Thatta Cement's profit ballooned by 502% in FY23-2422 August 2024, Published under Cement NewsThatta Cement Co Ltd of Pakistan announced its financial results for FY23-24 ended 30 June 2024, at the Pakistan Stock Exchange (PSX) on 20 August 2024. It reported an increase in profit after tax to PKR1.50bn (US$5.37m) in FY23-24 from PKR249m earned in the corresponding period last year. This reflects a profit balloon of 502 per cent during this period. The growth in the profit could be attributed to increased sales, which rose to PKR9.97bn in FY23-24 from PKR7.16bn during the yeaer-ago ... |
Bestway Cement posts 6% rise in FY23-24 sales16 August 2024, Published under Cement NewsChairman of Bestway Cement Ltd , Sir Mohammed Anwar Pervez, stated that despite all the challenges, Bestway increased its market share in Pakistan and achieved a growth of six per cent in sales volumes, outperforming the industry growth of 1.6 per cent. The main factor behind the development was attributed to the company's two new production lines at Hattar and Mianwali, which became operational during the FY22-23. According to the annual report for 2024, Bestway Cement has achieved signif... |
FLSmidth & Co Group reports declining revenue in its 2Q24 interim report15 August 2024, Published under Cement NewsIn the 2Q24 FLSmidth's group revenue decreased by 23 per cent (-20 per cent if excluding currency effects and effects from divestments). Gross profit increased by five per cent to DKK1579m (US$233m), compared to DKK1497m in the 2Q23, corresponding to a gross margin of 31.8 per cent. The gross margin reflects good execution of higher-margin orders as a result of FLSmidth's de-risking strategy, partly offset by the lower revenue, says teh company. Excluding transformation and separation cost... |
Votorantim shows strong regional performance in Europe, Asia and Africa15 August 2024, Published under Cement NewsVotorantim Cimentos reports positive results in the 2Q24 for its operations particularly in Europe, Asia and Africa but also in North America. In Brazil Votorantim Cimentos’ net revenue in the 2Q24 was BRL3.2bn (US$583.1m), flat compared to the same period in 2023. Adjusted EBITDA reached BRL566m in 2Q24, stable compared to the 2Q23, due to a positive trend in new businesses and an improvement in variable costs. In North America net revenue reached BRL2.2bn in the 2Q24, a decrease of ... |
Votorantim Cimentos reports net revenue of BRL7bn in the 2Q2414 August 2024, Published under Cement NewsVotorantim Cimentos ended the 2Q24 with a higher net revenue from increased volumes, supported by geographic and product diversification. The company recorded global net revenue of BRL7bn (US$1.27bn) in the 2Q24, a one per cent increase compared to the same period last year, excluding the effect of exchange rate variation. This result is mainly due to the positive performance of operations in Europe, Asia, Africa and Brazil. In the 2Q24 the company’s global cement sales totalled 9.6Mt, a t... |
Lucky Cement saw a significant profit rise in FY23-2412 August 2024, Published under Cement NewsLucky Cement Ltd posted its financial results for the 4QFY23-24 (April-June 2024) and FY23-24 (July 2023-June 2024) on the Pakistan Stock Exchange (PSX) website on 9 August, where it reported unconsolidated earnings of PKR28.107bn (US$100.9m), showcasing a jump of 105 per cent YoY. On a quarterly basis, net profit improved to PKR9.458bn compared to PKR2.59bn in the same period last year, a 265 per cent YoY rise. That said, consolidated earnings advanced by 34 per cent YoY, settling a... |
FLSmidth preliminary and unaudited 2Q24 and 1H24 results12 August 2024, Published under Cement NewsFLSmidth has announced preliminary and unaudited financial results for the 2Q24 and 1H24. Consolidated group revenue totalled DKK5bn (US$729.9m) in the 2Q24 and DKK9.8bn in the 1H24. Cement revenue reached DKK1.1bn in the 2Q24 and DKK2.3bn in the 1H24. Adjusted EBITDA margin for cement equalled 9.6 per cent in the 2Q24 and 8.6 per cent in the 1H24. The updated Adjusted EBITA margin guidance for cement reflects a better-than-expected impact from the implementation of the service-oriented bu... |
"Norm" OJSC increases sales by 11% in 202307 August 2024, Published under Cement News"Norm" OJSC ’s audited financial results of 2023 saw sales income increased by 11 per cent YoY to AZN226m (US$132.9m), while total profit increased by 21.1 per cent to AZN109m. Operating profit increased by 14.6 per cent YoY to AZN63.5m and pre-tax profit increased by 31 per cent YoY to AZN66.8m in 2023. Elvin Mirzayev, CFO of "Norm" OJSC, said that the company successfully continued its activities in 2023 and managed to increase both its income and net profit. He also noted that the com... |