Displaying items by tag: Analyst

Saudi Arabia: NCB Capital has predicted a growth in Saudi cement sales of 4% year-on-year to 52.8Mt in 2021. The investment and analyst division of National Commercial Bank described the sector’s outlook as ‘positive,’ due to on-going housing programmes and the Public Investment Fund’s 2021 – 2025 strategy, as well as a pick-up in infrastructure projects.

India: Motilal Oswal Securities predicts that Aditya Birla subsidiary UltraTech Cement’s second-quarter profit is likely to rise by 100% year-on-year in the 2021 financial year, which began on 1 April 2020, to US$161m from US$80.5m in the second quarter of the 2020 financial year. The Economic Times newspaper has reported that the analysts expect an increase in sales of 3.5% to US$1.36bn from US$1.31bn, an increase in cement volumes of 3.9% to 19.4Mt from 18.7Mt, a price drop and a fall in costs in the quarter, which ended on 30 September 2020. The analysts added that cement makers may show volume growth in the seasonally weak quarter due to pent-up demand as the economy has reopened following coronavirus-related disruption.

Global Cement apologies to UltraTech Cement for the previous version of this article that wrongly suggested that the company had made the forecast