Cement News tagged under: financial results

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FLSmidth suspends financial guidance for 2020

25 March 2020, Published under Cement News

FLSmidth has suspended its financial guidance for 2020, following the global uncertainty caused by the global COVID-19 pandemic. "The underlying mining and cement industries remain sound but given the day-to-day development in markets around the world, we are currently unable to assess the extent of the impact," said the company in a statement. The company is reporting increasing disruptions to customers and its own operations, with higher costs related to more complex logistics and a ...

FLSmidth adjusts 2019 EBITDA guidance

14 October 2019, Published under Cement News

FLSmidth revises its financial guidance for the full-year 2019. Revenue is now expected to be in the range of DKK20-21bn (US$2.95-3bn). The EBITA margin is now expected to be around eight per cent down from previous estimates of 9-10 per cent. Return on capital employed is now expected to be 10-12 per cent (previously 12-14 per cent). FLSmidth specified that it expected the full-year EBITA margin to be in the lower end of the range of 9-10 per cent due to 'a different development in busin...

Pioneer Cement reports 1HFY18 profit fall

21 February 2018, Published under Cement News

Pioneer Cement Ltd has announced that its net profit for the period 1HFY18 fell by 51 per cent to PKR737m (US$6.6m). T his was reportedly due to a decrease in sale, increase in cost of sales as well as higher in distribution and administrative expenses. The financing cost has also increased to PKR49m from PKR2.5m. The company's net sales fell from PKR5.19bn to PKR4.89bn, whereas, cost of sale increased to PKR3.4bn from PKR3.07bn during this period. No dividends were announced by the comp...

DG Khan Cement sees net profit fall by 17% in 1HFY18

21 February 2018, Published under Cement News

DG Khan Cement (DGKC) of Pakistan has announced that its net profit for the 1HFY18 fell by 17 per cent YoY to PKR4.50bn (US$40.6m). Despite an increase in total net sales of seven per cent to PKR15.76bn, the company's profit  reportedly declined due to increase in the cost of sales.   According to a company bourse filing on Tuesday, the company incurred a distribution cost of PKR460m and administrative expense of PKR296m compared to PKR505m and PKR261m, respectively in 1H16/17. The fina...

Star Cement records 10% rise in operating revenue

07 February 2018, Published under Cement News

Star Cement Ltd has released its results for the third quarter of FY17-18, showing a growth in operating revenue of 10.1 per cent YoY. Adjusted for excise duty, this translates to INR3.77bn (US$58.8m) against INR3.42bn of the 3QFY16-17, according to IIFL. EBITDA marked a considerable increase of 60.4 per cent to INR1.41bn in comparison with INR0.88bn of the previous fiscal. The EBITDA margin expanded by 1173bps YoY to 37.5 per cent. Elsewhere, Sagar Cements has reported a 47.21 per cent ri...

JK Cement reports 10% increase in net profit

05 February 2018, Published under Cement News

JK Cement has reported a 9.77 per cent YoY increase in net profit for the quarter ending 31 December 2017. This translates to a total of INR7.2bn (US$112.2m), compared to INR6.64bn seen in the year-ago period. Net revenue grew by 26.84 per cent in the 3QFY18, finishing at INR112bn (3QFY17: INR88.7bn). However, the company’s operating expenses also rose 29.24 per cent in the Oct-Dec 2017 quarter to INR95.5bn, when compared with INR73.9bn of the previous year’s quarter. Elsewhere, JK Ce...

Pakistan cement sales expected to rise 22%

02 February 2018, Published under Cement News

Pakistan cement sales are expected to post a 22 per cent YoY growth for January 2018. This translates to an increase of 3.7Mt from the year-ago period, mainly supported by high local demand, reports The News International. "We attribute this (increase) to higher demand coming from ongoing development projects and housing schemes," said Nabeel Khursheed, an analyst at Topline Securities, in a financial report. "Local dispatches are expected to post growth of 26 percent on yearly basis,...

National Cement posts net loss in 1HFY18

31 January 2018, Published under Cement News

National Cement has announced that its losses increased during the first half of FY18, ended December 2017. The loss increased by 136.7 per cent, to EGP496m (US$28m) from EGP209 of the year-ago period, according to Egypt Today. The unaudited results also showed a fall in revenue to EGP726m, compared to EGP940m recorded in the 1HFY17. The company also stated that it was expected to record profits of EGP17.7m for FY18. However, the present situation suggests that National Cement may post a ...

Orient Cement reports 12% increase in revenue

30 January 2018, Published under Cement News

Orient Cement has seen a 12.1 per cent increase in revenue in the quarter ended December 2017, according to Money Control. The revenue rose to INR5.11bn (US$80.37m) from INR4.56bn seen in the year-ago period.  However, the company has reported a net loss of INR177m (US$2.78m) in the 3QFY18, compared to the loss of INR116m in the previous year’s period. EBITDA fell 14.1 per cent YoY to INR391m, and the EBITDA margin decreased by 240bps at 7.6 per cent.

Attock Cement reports net sales increase in 2H17

25 January 2018, Published under Cement News

Attock Cement Pakistan Ltd has announced its financial results for the half-year period ended 31 December 2017. The company’s profit after tax fell 16 per cent YoY, to PKR1.15bn (US$10.38m) from PKR1.37bn seen in the year-ago period. Attock Cement’s net sales increased to PKR7.56bn in the second half of 2017, compared to PKR7.22bn of 2H16. The company also reported a distribution cost of PKR48.5m (2016: PKR52.6m) and administrative expenses of PKR24.1m (2016: 20.9m) in the 2H17. Furthe...