25 August 2016
Chzhungtsai Mohir Cement plant opens in Tajikistan 25 August 2016
Tajikistan: The Government of Tajikistan and the Chzhungtsai Mohir Cement company have started operation at their joint-run 1.2Mt/yr cement plant in Yovon district of Khatlon district. The president of Tajikistan Emomali Rakhmon inaugurated the plant. It will be the first cement plant in Central Asia to produce ‘400’, ‘500’ and ‘600’ branded cement, according to Asia Plus. The plant cost US$121m to build with 35% of the cost procured from local investors and 65% from foreign investment.
Boral’s profit rises by 8% to US$204m 25 August 2016
Australia: Boral’s profit after tax has risen by 8% year-on-year to US$204m in its financial year which ended on 30 June 2016 from US$190m in the previous year. Its sales revenue fell, by 2% to US$3.28bn, but revenue from continuing operations rose slightly. Revenue from continuing operations benefitted from stronger residential activity in Australia and the US, which offset the decline in resource-based and other major project activity. The company’s earnings before interest and tax (EBIT) also rose due to operational cost improvements, lower fuel costs and some pricing gains.
“We have continued to improve our performance across our businesses in line with our strategy, managing our portfolio more efficiently and maintaining a strong balance sheet,” said CEO and managing director Mike Kane. “The continued growth in Boral’s earnings demonstrates the great work that has been done to improve our cost base, grow margins, and efficiently supply market demand, which continues to be strong in Australia and Asia, and is growing in the US.”
The group’s revenue from its cement business grew by 3% to US$231m due to a 6% increase in cement volumes due to stronger activity in New South Wales and 2% higher average prices, partially offset by lower wholesale clinker volumes due to kiln availability. Earnings also grew with cost improvement initiatives, including improved utilisation of assets and sourcing of lower cost raw materials and energy.
CRH sales revenues rise following acquisitions 25 August 2016
Ireland: CRH’s sales revenue has risen by 35% year-on-year to Euro12.7bn in the first half of 2016 from Euro9.38bn in the same period of 2015. On a proforma basis - or adjusted for acquisitions, divestments and currency changes – sales revenue rose by 8%. CRH’s earnings before interest, taxation, depreciation and amortisation (EBITDA) rose by 20% to Euro1.12bn on a proforma basis. The company attributed the increases in sales, mainly to the Americas, with rises in Europe and Asia also.
"We have had a very satisfactory first half, with good performance from our heritage businesses and contributions from 2015 acquisitions delivering significant profit growth for CRH,” said chief executive Albert Manifold. “With continued positive momentum in the Americas and the modest impact of early-stage economic recovery in Europe, assuming normal weather conditions for the remainder of the season, we expect further progress in the second half with full year reported EBITDA in excess of Euro3bn."