Displaying items by tag: Results
Buzzi Unicem boosts 2019 sales by 12% year-on-year
10 February 2020Italy: Buzzi Unicem’s consolidated sales rose by 12% year-on-year to Euro3.22bn in 2019 from Euro2.87bn in 2018. The company saw a rise in cement sales volumes of 4.3% year-on-year to 29Mt from 28Mt. The company attributed the boost to its 0.9Mt integrated Testi plant in the Veneto region of Italy, which it commissioned on 1 July 2019, and two new grinding plants in Italy and Germany.
JK Cement records 130% year-on-year nine-month profit growth
10 February 2020India: JK Cement has announced a rise in total comprehensive profit (net of tax) over the nine months ended 31 December 2019 of 130% to US$56.2m from US$24.5m in the corresponding period of 2018. Revenues rose by 14% year-on-year to US$567m in the period from US$495m over the nine months to 31 December 2018.
On 3 February 2020 JK Cement commissioned a 1.5Mt/yr and a 1.0Mt/yr grinding unit at its Aligarh, Uttar Pradesh, and Mangrol, Rajasthan, plants.
Taiheiyo Cement’s nine-month profit falls by 4.3% year-on-year
07 February 2020Japan: Taiheiyo Cement recorded a net profit of US$278m in the nine months to 31 December 2019, the first three quarters of the Japanese 2020 fiscal year. This corresponds to a 10% fall from US$310m in the nine months to 31 December 2018. Its nine-month sales fell by 4.3% year-on-year to US$6.04bn in the first three quarters of the present financial year, compared to US$6.31bn one year previously.
Taiheiyo Cement revised its forecasted full-year (to 31 March 2020) net profit down from US$570m, published in its six-month results on 12 November 2019, to US$364m.
Sumitomo Osaka Cement records 35% nine-month net profit drop
07 February 2020Japan: Sumitomo Osaka Cement’s nine-month net profit over the period ending 31 December 2019 fell by 35% year-on-year to US$45.6m from US$70.3m over the corresponding period of 2018. Nine-month revenues were US$1.66bn, down by 3.3% year-on-year from US$1.71bn. Sumitomo Osaka Cement predicted revenues in the fiscal year ending 31 March 2020 of US$2.23bn, which would give it an estimated net profit of US$97.5m for the whole year, down by 27% from US$134m in the 2019 fiscal year.
Star Cement’s three-month profit falls by 18% year-on-year
07 February 2020India: Star Cement recorded a standalone net profit of US$6.43m in the period between 1 October 2019 and 31 December 2019, representing a decrease of 18% year-on-year from US$5.45m in the corresponding three-month period of 2018. The company attributed the decline to increased operating expenses, which rose by 16% year-on-year to US$51.9m from US$44.9m in 2019. Sales over the period rose by 6.9% year-on-year to US$60.1m from US$56.2m in the final quarter of 2018.
Summit Materials raises 2019 profit by 74% year-on-year
06 February 2020US: Summit Materials recorded a profit of US$59.1m in 2019, up by 74% from US$33.9m in 2018. Summit Materials’ CEO Tom Hill attributed the growth to ‘sustained public sector demand coupled with improved pricing.’ The Colorado-based construction materials company’s cement section contributed sales growth of 3.5% year-on-year to US$291m from US$281m in 2018, with a 2.8% in cement volumes and a 1.7% price increase.
SCG sales fall 5% in Vietnam
04 February 2020Vietnam: Thailand-based Siam Cement Group (SCG) said its revenue from sales in Vietnam dropped by US$64.7m in 2019, a fall of 5.8% year-on-year to US$1.27bn. The figure accounted for 9.0% of SCG’s total revenue of US$14.1bn for the year. In the fourth quarter of 2019, SCG earned US$319m in revenue in the Vietnamese market, a fall of 11% year-on-year, appearing to indicate acceleration in the rate of decline. A possible contributing factor to the lower sales is Vietnam’s huge cement overcapacity, although SCG operates across a wide range of other sectors in addition to cement production.
Lucky Cement’s sales fall as energy costs mount
31 January 2020Pakistan: Lucky Cement’s sales and profits have fallen in the first half of its financial year as gas, fuel and transportation costs of input materials have risen. Its sales fell by 11% year-on-year to US$201m in the six months to 31 December 2019 from US$226m in the same period in 2018. Its cement sales volumes dropped by 9.5% to 3.17Mt from 3.50Mt. Its profit after taxation more than halved to US$12.5m from US$35.6m. It also blamed lower sales volumes on price pressure due to low demand and higher transport and logistics costs.
The cement producer started operating a 2.8Mt/yr upgrade to its Pezu plant in Khyber Pakhtunkhwa at the end of December 2019. Construction work on a new 1.2Mt/yr plant in Samawah in Iraq is underway, with contracts in place for a cement grinding mill, packing plant and power generation unit. The new plant is expected to start commercial production in late 2020.
Birla Corporation boosts three-month profit by 200% year-on-year
30 January 2020India: Birla Corporation has recorded a profit of US$11.3m in the three months ending 31 December 2019 - the third quarter of the Indian fiscal year: up by 200% from US$3.77m in the corresponding quarter of 2018. Revenues in the period rose by 11% to US$243m from US$219m.
Birla Corporation has also announced plans for a 3.9Mt/yr integrated grinding plant in Mukutban, Maharashtra, as well as upgrades further increasing both its integrated and grinding capacities.
India: Ramco Cements’ profit in the three months to 31 December 2019 was US$13.3m, down by 6.3% year-on-year from US$14.2m. Revenues in the period rose by 5.3% to US$180m from US$171m. Sales volumes grew by 3.7% year-on-year to 28Mt from 27Mt.
A 100% capacity expansion of Ramco Cements’ 1.0Mt/yr Kolaghat grinding plant in West Bengal to 2.0Mt/yr, which begun in September 2019, is scheduled for completion in 2020.