Cement News tagged under: financial business results

RSS feed

Thatta Cement reports profit in 1HFY23-24

27 February 2024, Published under Cement News

Pakistan 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...

Bestway Cement Factory reports 1HFY23-24 fall in profit

26 February 2024, Published under Cement News

Bestway Cement Ltd (BWCL) announced its 2QFY23-24 (October-December) and 1HY23-24 (July-December 2023) results on the website of the Pakistan Stock Exchange (PSX) on 21 February 2024. The company's net earnings at PKR6.78bn (US$24.25m) in 1HFY23-24 were down 15.9 per cent YoY. The high cost of finance, sales tax, excise duty and expensive cost of sales can be attributed to lesser profit during this period. Its gross sales increased by 31.9 per cent to PKR76.81bn from PKR58.24bn during thi...

Maple Leaf Cement Factory saw a fall in profit in 1HFY23-24

23 February 2024, Published under Cement News

Maple Leaf Cement Factory Ltd (MLCF) reported its 2QFY23-24 (October-December 20223) and 1HFY2023-24 results to the Pakistan Stock Exchange (PSX), posting net earnings of PKR2.24bn (US$) in 2QFY23-24, down 23 per cent YoY and up 38 per cent QoQ. This takes 1HFY23-24 (July-December 2023) earnings to PKR3.86bn compared to PKR4.30bn, down 10 per cent YoY due to a decline in sales volumes. According to Topline Pakistan Research, the 2QFY23-24 result exceeded industry expectations due to hig...

City Cement Co reports a fall in sales quantity during 2023

23 February 2024, Published under Cement News

City Cement Co of Saudi Arabia has recently uploaded its annual financial results for the period ending on 31 December 2023 at the Saudi Exchange. During this period, the company’s net profit fell by 28.70 per cent to SAR82m (US$21.86m) from SAR115m earned in the same 12-months last year. A cursory look at the financial results tells that company sales shrunk by 17.36 per cent, which has caused the decline in profit YoY. The sales revenue was SAR356m against SAR431m of the previous financi...

Argos' adjusted EBITDA totals COP672bn in 4Q23

22 February 2024, Published under Cement News

For the fourth quarter of 2023, Argos ' adjusted EBITDA stood at COP676bn (US$172.2m), increasing 12   per cent compared to 4Q22. The results were driven by strong pricing dynamics, especially in the US, combined with cost efficiencies in both Colombia and the US. Adjusted EBITDA margin stood at 23.2 per cent for the quarter, increasing 393 basis points versus 2022 on a comparable basis.  In terms of volumes, total cement dispatches reached 3.8Mt, with a contraction of 2.3 per cent, caus...

Cherat Cement saw 12 per cent profit growth in 1HFY23-24

20 February 2024, Published under Cement News

Cherat Cement (CHCC) has recently uploaded its financial results to the Pakistan Stock Exchange (PSX) website. The company reported a 2QFY23-24 net profit after tax (NPAT) of PKR1.9bn (US$m12.2m), up 20 per cent YoY and 22 per cent QoQ. This result takes 1HFY23-24 NPAT to PKR3.4bn, up 12 per cent YoY. The positive result was possible due to increased gross margin and other income as well as a cut in financial costs during the three and six months.  The company posted net sales of PKR20....

Vicat posts better than expected results in 2023

19 February 2024, Published under Cement News

Vicat posted 2023 EBITDA of EUR740m, a rise of 30 per cent compared to 2022, an improvement on analysts CIC Market Solutions’ expectations of EUR709-716m. Several factors account for Vicat's strong financial results, claims CIC Market Solutions. Despite a sharp downturn in the new housing segment in Europe (41 per cent of revenues, and 31 per cent in France), consolidated volumes were up 6.3 per cent, thanks in particular to the ramp-up of the Ragland kiln in Alabama. In the Americas, w...

Crown Cement's net profits rise 649% in 1HFY23-24

16 February 2024, Published under Cement News

Crown Cement PLC , one of Bangladesh’s leading cement manufacturers, recently uploaded its financial results on the Dhaka Stock Exchange (DSX). The company witnessed a hefty surge in profit between July and December 2023 due to higher sales and other income from the shipping business. It earned a profit of BDT706.18m (US$6.436m) compared to BDT94.28m in July-December 2022, a YoY increase of 649 per cent. The company also attributed the expansion in profit to the rise in prices of cement bag...

Kohat Cement Co profits grow by 24% in 1HFY23-24

15 February 2024, Published under Cement News

Kohat Cement Co Ltd announced its financial result for 1HFY23-24 on the Pakistan Stock Exchange website on 14 February, posting a profit after tax (PAT) of PKR4.453bn (US$15.9m) compared to a PAT of PKR3.578bn in the same period last year (SPLY). This translates into a growth of 24 per cent YoY. On the other hand, the profitability in 2QFY23-24 advanced by 14 per cent YoY to PKR2.224bn compared to SPLY. According to AHL Research, the topline during 1HFY23-24 clocked in at PKR21.462bn, s...

Kohat Cement Co to post strong results

12 February 2024, Published under Cement News

Kohat Cement Co Ltd is scheduled to announce its financial result for 1HFY23-24 (July-December 2023) on 14 February whereby AHL Research  anticipate the company will post a profit after tax of PKR4.313bn (US$15.57m) as compared PKR3.578bn, up by 21 per cent YoY. Likewise, in 2QFY23-24 (October-December 2023) earnings are expected to climb by seven per cent YoY, arriving at PKR2.084bn. The top line in 2QFY23-24 is expected to decline by nine per cent YoY to settle at PKR10.017bn...