Displaying items by tag: GCW72
Mixed results from Turkish producers in first half of 2012
24 October 2012Turkey: More Turkish cement manufacturers have released first half results for 2012, which continue the mixed trend seen from other producers.
Aslan Çimento saw a marginal decrease in its revenue, by 0.37% in the first half of 2012. It recorded total revenues of Euro29.5m for the half, making Euro3.0m in profit. In the second quarter of 2012 it Aslan had a revenue of Euro17.5m and profit of Euro2.9m.
Göltaş Göller Bölgesı Çimento saw total revenues of Euro67.5m in the first half of 2012, a 73.5% increase compared to the first half of 2011. Its net profit was also up, growing by 54.5 to Euro9.1m. Over the three months to 30 June 2012, the company had a total revenue of Euro50.3m, representing an increase of 85.4% compared to the second quarter of 2011. In the three month period it saw a net profit of Euro0.85m.
Konya Çimento's results showed a 256% year-on-year increase in its net profit, from a low base. It recorded a net profit of Euro6.83m compared to Euro1.92m in the same period of 2011. Konya's total revenue was up by 3.8% to Euro48.0m in the first half of 2012 compared to Euro46.5m in the first half of 2011.
Çimentas Izmir Çimento Fabrikasi saw its total revenue increase by 1.72% to Euro117.7m in the first half of 2012, recording a net profit of Euro2.8m. In the course of the second quarter of 2012, which ended on 30 June 2012, the company recorded a revenue of Euro72.5m, an increase of 5.6% year-on-year. It saw a quarterly net profit of Euro2.1m.
Cemex España to cut 390 jobs
23 October 2012Spain: Cemex España, the Spanish subsidiary of Mexican cement company Cemex, plans to cut around 390 jobs. This represents 22% of its 1740 current employees. The company has attributed its decision to flagging cement consumption in Spain, amid continued ecomonic turmoil, austerity measures and unemployment.
UltraTech net profit nearly doubles
22 October 2012India: UltraTech Cement, an Aditya Birla Group company, has posted a 97% rise in net profit to US$102.5m in the second quarter of the 2012 fiscal year from US$51.9m in 2011 after it recorded a strong pick-up in demand for cement.
Quarterly net sales stood at US$875m compared year-on-year to US$728m, a rise of 20%. However, variable costs rose by 8% in the quarter ending 30 September 2012. "This was mainly on account of higher raw material prices, which are linked to the last increase in railway freight and increase in diesel prices," said UltraTech in a press release.
The company's initiative towards setting up additional clinkerisation plants at Chhattisgarh and Karnataka are expected to be operational from early 2013-14. The company's cement capacity will be enhanced by 10.2Mt/yr.