Cement News tagged under: financial business results
Umm Al-Qura Cement Co posts 55% fall in net profit in 1H2222 August 2022, Published under Cement NewsSaudi cement producer, Umm Al-Qura Cement Co has posted a 55 per cent fall in net profit during the 1H22 owing to lower cement sales, compared to the 1H21. Profits in the first half dropped from SAR49m (US$13m) in the same period last year to SR22m (US$5.9m), according to a bourse filing. The company attributed the decline in net profit to a decrease in sales value and an increase in selling, marketing, and administrative expenses. Its revenue declined 19 per cent to SAR125m durin... |
UltraTech Cement announces fresh capex plans18 August 2022, Published under Cement NewsUltraTech Cement 's chairman, Kumar Mangalam Birla, addressed shareholders at the company's 22 nd Annual General Meeting (AGM) stating that the company’s Board of Directors approved fresh capex of INR128,860m (US$1623m) towards increasing capacity by 22.6Mta with a mix of brownfield and greenfield expansions. The additional capacity would be created across the country by setting up integrated and grinding units as well as bulk terminals. Commercial production from these new capacities is... |
Attock Cement makes loss after super tax18 August 2022, Published under Cement NewsAttock Cement Pakistan Ltd (ACPL) has announced its financial result for 4QFY21-22 (April-June 2022), posting a loss after tax of PKR59m (US$274,781) compared to a profit after tax of PKR149m in the same period last year. The main reason behind this loss has been the recognition of super tax and deferred tax liability, according to AHL Research. This took the FY21-22 (July 2021-June 2023) earnings to PKR1181m against PKR1107m in the same period a year earlier. Alongside the result, the co... |
Misr Qena Cement Co records 24% profit rise in 1H2218 August 2022, Published under Cement NewsThe consolidated financial statements of Misr Qena Cement Co revealed an increase in the company's profits by 24 per cent during the first half of this year. The company achieved a net profit of EGP85.69m (US$4.5m) during the period from January to the end of June 2022, compared to EGP69.1m in the same period last year. Misr Qena Cement recorded sales during the 1H22 of EGP1.29bn, compared to EGP1.28bn in the same period last year. The company recorded a net profit of EGP80.85m from ... |
Qassim Cement Co sees 73% fall in profits in 1H2217 August 2022, Published under Cement NewsQassim Cement Co posted a 73 per cent drop in profit during the 1H22, hit by lower cement demand. The Saudi cement producer’s profit fell to SAR54m (US$14m), compared to SAR201m in the prior-year period. The company’s performance declined due to lower sales both in value and volume terms, higher costs of goods sold, as well as lower returns on financial investments, Arab News reported. Company revenue also declined by 30 per cent during the 1H22 to SAR295m. |
Summit Materials Inc records revenue of US$631.9m in 1H2217 August 2022, Published under Cement NewsSummit Materials Inc reported net revenue of US$631.9m in the 1H22, a rise of 2.2 per cent from US$618.5m in the 1H21. This advance is due to increases in average sales prices across all lines of the business which more than offset volume declines due primarily to divestitures. Net income rose to US$111.2m during this period, up from US$95.9m in the 1H21. Adjusted EBITDA increased by US$0.2m, or 0.1 per cent, to US$164m. The cement business saw net revenue increase 9.1 per cent to US... |
Votorantim Cimentos records strong performances in Brazil and North America in 2Q2215 August 2022, Published under Cement NewsVotorantim Cimentos’ regional results in the 2Q22 recorded strong revenues despite inflationary pressures. The domestic market of Brazil and operations in Europe, Asia and Africa were the highest performing areas with a decline in Latin American revenues. In Brazil net revenue was BRL3.2bn (US$620.2m) in the second quarter of 2022, a 24 per cent increase compared to the same period last year. Adjusted EBITDA in the quarter was BRL606m, down nine per cent from 2Q21 due to a drop in sa... |
India Cements doubles 1Q net profit15 August 2022, Published under Cement NewsIndia Cements Ltd (ICL) reported that net profit for the 1QFY2023 more than doubled to INR760m (US$9.54m) over the year-earlier period. Revenue from operations rose by 41 per cent to INR14,460m and total expenditure increased by 57 per cent to INR152,60m, the company said in a filing. Total comprehensive income more than doubled to INR800m. During the quarter, clinker production was up by 28 per cent while cement sales rose by 38 per cent to 2,553,000t. Clinker sales were marginally... |
Votorantim Cimentos earns revenue of BRL6.7bn in 2Q2212 August 2022, Published under Cement NewsVotorantim Cimentos ended the 2Q22 with consolidated net revenue of BRL6.7bn (US$1.3m), an increase of 15 per cent compared to the same period last year. This result was primarily due to favourable price dynamics, in addition to the positive impact of additional sales resulting from the acquisitions concluded in 2021, said Votorantim. The company’s global cement sales totalled 9.6Mt, down two per cent from the 2Q21. Despite the challenging environment, the company demonstrated... |
Argos generates revenue of COP2.9trn in 2Q2211 August 2022, Published under Cement NewsArgos, ( Grupo Argos ) recorded revenues and strong demand for cement and ready-mix, mainly in the United States and Colombia, as well as stable operating results in an environment of high-cost inflation helped by its strategy, the flexibility of its fuel matrix and the partial hedging of fuel prices. From April to June 2022 (2Q22), the cement company generated revenues for COP2.9trn (US$670m), 15.3 per cent higher compared to the same months of the previous year. Also, it obtained an adj... |