Displaying items by tag: Profit
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.
Qatar National Cement Company produces 2.2Mt and profit falls by 51% year-on-year in 2019
28 January 2020Qatar: Qatar National Cement Company (QNCC) has recorded a profit of US$47.3m in 2019 – down by 51% from US$95.5m in 2018. This was caused by a 17% year-on-year fall in earnings to US$193m from US$233m in 2018 due to a 24% fall in production year-on-year – from 2.9Mt to 2.2Mt – and increased costs from the completion of the fifth line at the company’s integrated plant, as well as the diversification of its products to include white as well as grey cement.
India: The Economic Times has reported a forecasted profit growth for UltraTech Cement of 122% to US$119m over the three months to 31 December 2019 from US$53.6m in the corresponding period of 2018. It explained the boom in terms of increased sales, which may have risen by 7% year-on-year to US$1.50bn from US$1.40bn, and earnings before interest, taxes, depreciation and amortisation (EBITDA) per tonne – up by 45% to US$15.8/t from US$10.9/t. It predicted volumes growth of 3% year-on-year, dragged down by UltraTech subsidiary Century Cement’s falling production.
Huaxin Cement projects 18% - 28% year-on-year profit growth
10 January 2020China: Preliminary calculations from Huaxin Cement’s financial division have projected a net profit attributable to shareholders for 2019 of between US$0.88bn and US$0.95bn – an increase of 18% - 28% year-on-year from US$0.74bn. The company attributed the forecasted rise to an increase in the production and sales scale of its leading products.
China Cement Association Information Centre deputy director and Digital Cement Network CEO Chen Bailin estimated that demand will remain steady across China in 2020, according to Yicai News.
China: Anhui Conch expects that its profit will double year-on-year for the first half of 2018. The company reported an unaudited net profit of US$1.01bn in the first half of 2017. It has attributed the growth in profit to a ‘significant’ increase in the price of its products and an increase in revenue. The cement producer plans to release its half year report by the end of August 2018.
Lafarge’s Czech sales increase but profit falls
03 July 2018Czech Republic: Lafarge Cement’s sales in Czechia increased by almost 7% to Euro38.2m in 2017 but its profit dropped by 25% to Euro5.9m, according to spokeswoman Milena Hucanova.
Czech construction registered only moderate growth in 2017, which was reflected in the company's sales. Operating profit was comparable with the level from 2016.
"The company's net profit was mainly as a consequence of changes in the volume and appraisal of inventories, higher consumption of carbon credits and the firming up of the Koruna / Euro (exchange) rate after the Czech National Bank’s interventions," said CFO Jan Mencl.
Investments by the company in 2018 are planned to amount to Euro3.8m. Hucanova said that half of this had already been spent on the conversion of an electrostatic precipitator to a baghouse at the company’s Čížkovice plant.
CRC profit to increase
12 June 2018China: China Resources Cement (CRC) has said that it expects its profit attributable to the owners for the six months ending 30 June 2018 to significantly increase compared to the corresponding period of 2017. The expected growth was primarily attributable to the higher selling prices of cement products during the period, which rose by 33.4% year-on-year.