Cement News tagged under: financial business results
Gharibwal Cement achieved significant financial milestones in FY2408 October 2024, Published under Cement NewsGharibwal Cement Ltd has issued a notice to call the 64th Annual General Meeting, which will be held on 24 October 2024, to approve the account for FY24. The company achieved significant financial milestones in FY24, with a net profit surge of 41.4 per cent YoY, reaching PKR1.743bn (US$626.1m). This strong performance, a testament to the company’s collective efforts, contributed to an impressive Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) growth of nine per... |
Steppe Cement reports 1H24 revenues of US$34m20 September 2024, Published under Cement NewsSteppe Cement reported its 1H24 unaudited interim results with revenues amounting to US$34.4m, a seven per cent fall from US$36.9m in the corresponding period of 2023. The decline was mainly attributed to a four per cent drop in sales volume. The group made a loss after tax of US$3.5m in the 1H24 compared to US$0.1m profit after tax in the 1H23. First-quarter trading saw an 18 per cent in sales for Steppe Cement, but this was offset by a two per cent rise in the 2Q24, while sales volumes ... |
DG Khan Cement posts a profit of PKR542m in FY23-2417 September 2024, Published under Cement NewsDG Khan Cement Co Ltd (DGKC) reported its financial results for FY23-24 on the Pakistan Stock Exchange website on 16 September. The company posted a profit of PKR542m (US$1.95m) compared to a loss of PKR3.64bn in the previous period. Other income and lower taxation helped to achieve profit during this period. According to AHL Research, DG Khan's topline during FY23-24 reached PKR66.03bn, an uptick of two per cent YoY in contrast to PKR64.98bn in the previous period, on the back of high... |
Malayan Cement boosts YTL Corp's FY24 results28 August 2024, Published under Cement NewsYTL Cop Bhd posted a net profit slipped to MYR534.48m in the fourth quarter ended 30 June 2024 (4Q24) compared with MYR548.03m in the previous corresponding period, while revenue in 4Q24 dipped to MYR8.27bn from MYR9.21bn a year earlier. In a statement, executive chairman Tan Sri Francis Yeoh Sock Ping said the strong set of results was contributed by all business segments across the board, anchored by the utilities and cement divisions, with the construction, property, hotels and managemen... |
Cherat Cement reported an increase in profit by 25% in FY23-2423 August 2024, Published under Cement NewsCherat Cement Co Ltd of Pakistan has announced its financial results for the year ended 30 June 2024. It reported an increase in profit after tax to PKR5.49bn (US$) 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... |