
Displaying items by tag: GCW325
UltraTech Cement’s blames profit drop on fuel prices
19 October 2017India: UltraTech Cement has blamed a drop in its profit on rising fuel prices. Its net profit fell by 31% year-on-year to US$65m in the second quarter of its financial year that ended on 30 September 2017, from US$94m in the same period in 2016.
Overall the cement producer’s sales revenue has risen by 6.5% year-on-year to US$2.28bn in the first six months of its 2017 – 2018 financial year from US$2.15bn in the same period in the 2016 – 2017 period. Its net profit fell by 5% to US$203m from US$214m. Its sales volumes of cement rose by 8% to 26.3Mt from 24.4Mt. It completed its acquisition of 21.2Mt/yr cement production capacity from Jaiprakash Associates in June 2017. However, no like-for-like financial figures have been released.
Venezuela: Anti-corruption non-government organisation Transparencia Venezuela says that cement production at the country’s state-run plants dropped by 41% to 6Mt in 2015 from 10.2Mt in 2010. Four of these companies were only able to use 52% of their installed capacity between 2011 and 2015, according to the El Nacional newspaper. Fabrica Nacional de Cemento, Cemento Andino and Vencemos allegedly saw their production levels decline by 67%, 39% and 15% respectively over this period.
Oficemen releases CO2 emission reduction roadmap
19 October 2017Spain: Oficemen, the Spanish cement association, has released its roadmap for reducing CO2 emissions to 2050. The document highlights the potential of new technologies, including carbon capture and storage (CCS), which could decrease the CO2 footprint of the Spanish cement industry by up to 80% in 2050. Using existing the technology the association estimates it could reduce emissions by 35% from a 1990 baseline.