Displaying items by tag: Results

Pakistan: Lucky Cement’s sales and profits have fallen in the first half of its financial year as gas, fuel and transportation costs of input materials have risen. Its sales fell by 11% year-on-year to US$201m in the six months to 31 December 2019 from US$226m in the same period in 2018. Its cement sales volumes dropped by 9.5% to 3.17Mt from 3.50Mt. Its profit after taxation more than halved to US$12.5m from US$35.6m. It also blamed lower sales volumes on price pressure due to low demand and higher transport and logistics costs.

The cement producer started operating a 2.8Mt/yr upgrade to its Pezu plant in Khyber Pakhtunkhwa at the end of December 2019. Construction work on a new 1.2Mt/yr plant in Samawah in Iraq is underway, with contracts in place for a cement grinding mill, packing plant and power generation unit. The new plant is expected to start commercial production in late 2020.

India: Birla Corporation has recorded a profit of US$11.3m in the three months ending 31 December 2019 - the third quarter of the Indian fiscal year: up by 200% from US$3.77m in the corresponding quarter of 2018. Revenues in the period rose by 11% to US$243m from US$219m.

Birla Corporation has also announced plans for a 3.9Mt/yr integrated grinding plant in Mukutban, Maharashtra, as well as upgrades further increasing both its integrated and grinding capacities.

India: Ramco Cements’ profit in the three months to 31 December 2019 was US$13.3m, down by 6.3% year-on-year from US$14.2m. Revenues in the period rose by 5.3% to US$180m from US$171m. Sales volumes grew by 3.7% year-on-year to 28Mt from 27Mt.

A 100% capacity expansion of Ramco Cements’ 1.0Mt/yr Kolaghat grinding plant in West Bengal to 2.0Mt/yr, which begun in September 2019, is scheduled for completion in 2020.

Qatar: 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.

China: Sinoma International’s income remained stable in 2019 at US$4.56bn. The number of new orders rose slightly to 142. By region, revenue from domestic markets grew by 57% year-on-year to US$2.02bn but overseas revenue fell by 21% to US$2.54bn. The equipment manufacturer and supplier said that a major project to build a 5000t/day clinker production line for Central African Cement in Zambia was still in the financing stage. The project has a value of US$480m.

Oman: Raysut Cement’s revenue fell by 7.6% year-on-year to US$223m in 2019 from US$241m in 2018. However its profit for the year before tax rose five-fold to US$13.8m and its expenses fell by 12% to US$208m.

Egypt: South Valley Cement’s sales in the nine months to 30 September 2019 were Euro19.2m - down by 47% year on year from Euro36.5m in the corresponding period of 2018. It lost Euro9.68m in the period compared to Euro0.94m in the same three quarters of 2018, representing a 940% increase in loss.

Ireland: CRH’s sales revenue grew by 4% on a like-for-like basis to Euro21.8bn in the first nine months of 2019. Its earnings before interest, taxation, depreciation and amortisation (EBITDA) rose by 7% to Euro3.2bn. Sales grew fastest in its European and American heavy materials divisions with earnings growth more pronounced in North America than in Europe. The group reported growth in ready-mixed concrete and cement sales in North America as it continued to consolidate Ash Grove into the business. Sales in Europe were generally good, although declining construction activity in the UK was noted due to market uncertainty related to the country’s attempt to leave the European Union. CRH also reported falling sales volumes in the Philippines due to a slowdown in infrastructure spending.

South Africa: PPC’s sales have fallen due to poor sales volumes in South Africa and Zimbabwe. Its results were also negatively affected by ‘significant’ currency exchange effects between the South African Rand and the Zimbabwean Dollar. Its revenue decreased by 12% year-on-year to US$334m in the six months to 30 September 2019 from US$378m in the same period in 2018. Sales volumes fell by 17% to 2.6Mt. Earnings before interest, taxation, depreciation and amortisation (EBITDA) dropped by 20% to US$58.6m from US$70.2m.

“The positive operational results in Rwanda and the Democratic Republic of the Congo have partially offset difficult and competitive market conditions in South Africa and Zimbabwe,” said chief executive officer (CEO) Roland Van Wijnen. “PPC has continued its efforts to implement necessary price increases to lay the basis for a sustainable domestic cement industry in South Africa.” In South Africa PPC blamed imports and blender activity for exacerbating a poor local market. It also noted that its fuel costs grew by 30% in the reporting period.

UK: Breedon Group’s revenue grew by 8% year-on-year to Euro933m in the ten months to the end of October 2019. Its cement sales volumes increased by 6% but its ready-mixed concrete sales fell by 5%. Aggregate and asphalt sales volumes also rose. The group said that its results were achieved against the backdrop of a flat construction market in the UK where lower industry sales volumes were recorded for all major heavyside construction materials in the nine months to 30 September 2019.