Displaying items by tag: GCW378

Indonesia: Indocement’s sales revenue rose by 2% year-on-year to US$713m in the first nine months of 2018 from US$696m in the same period in 2017. However, its operating income fell by nearly a third to US$35m from US$97m. The subsidiary of Germany’s HeidlebergCement reported that its cost of sales rose in the reporting period.

Saudi Arabia: Saudi Cement’s sales revenue fell by 5.8% to US$217m in the first nine months of 2018 from US$231m in the same period in 2017. Its net profit after tax decreased by 20% to US$73.5m from US$92.2m. The cement producer has blamed falling sales, rising costs and an increase in Islamic finance charges for its declining profits.