Displaying items by tag: Results
Shree Cement’s profit before tax suffers from power costs
23 January 2019India: Shree Cement’s income rose by 15% year-on-year to US$1.18bn for the first nine months of 2018 from US$1.07bn in the same period in 2017. However, its profit before tax fell by 50% to US$95.2m from US$192m. This was mainly due to rising power and fuel costs and logistic expenses.
China: Sinoma International Engineering’s new order intake fell by 14% year-on-year to US$4.56bn in 2018. No reason for the decrease was given but orders from its construction business segment fell by 10% to US$3.43bn. By region, local Chinese orders rose by 34% to US$1.3bn but foreign orders dropped by 24% to US$3.26bn.
China National Building Material forecasts profit rise in 2018
17 January 2019China: China National Building Material (CNBM) says that its profit will rise ‘substantially’ in 2018. It has attributed this to rising cement prices.
Titan Cement reports growth in fourth quarter of 2018
16 January 2019Greece: Titan Cement says that its turnover, earnings before interest, taxation, depreciation and amortisation (EBITDA) and net profit after taxes all grew year-on-year in the fourth quarter of 2018. Overall, its second half results were better than in 2017. The growth mostly came from the US and South East Europe, but the company said that the situation in other regions has not shown any significant change. The cement producer made the announcement as it is undergoing a voluntary tender offer process.
Steppe Cement’s sale rise by 32% to US$74.8m in 2018
14 January 2019Kazakhstan: Steppe Cement’s sales revenue rose by 32% year-on-year to US$74.8m in 2018 from US$56.6m in 2017. Its cement sales volumes rose by 6% to 1.72Mt from 1.63Mt. Its exports grew by 50% to 0.22Mt from 0.15Mt. Overall, the cement producer said that local cement consumption fell by 4% to 8.6Mt.
Anhui Conch issues profit alert
10 January 2019China: Anhui Conch expects its net profit to rise by nearly 100% year-on-year to US$2.3bn in 2018. It has attributed the growth in profit to rising cement prices, growing operating income and effects from structural reform in the industry.
West China Cement forecasts profit bounce in 2019
08 January 2019China: West China Cement says that it is expecting its net profit to record a ‘substantial’ increase year-on-year in 2018. It has attributed this to a rise in average cement prices. Subsequently, its sales revenue rose by 28% year-on-year for the first eleven months of 2018 compared to the same period in 2017.
Saudi Arabia: Southern Cement’s sales revenue and profits have fallen so far in 2018 due to falling sales volumes and prices. Its revenue fell by 15% year-on-year to US$172m in the first nine months of 2018 from US$203m in the same period in 2017. Its net profit after Zakat and taxes decreased by 44% to US$38m from US$68.5m.
Switzerland: LafargeHolcim is expecting its sales growth to slow in 2019 but earnings to grow as its ‘Strategy 2022’ management plan takes shape. Net sales are forecast to grow by up to 6% year-on-year in 2018 yet by only 5% in 2019. However, recurring earnings before interest, taxation, depreciation and amortisation (EBITDA) are predicted to rise by up to 5% in 2018 and then by at least 5% in 2019.
“With the recent divestment of our Indonesian operations we reached a major milestone in focusing our portfolio which allowed us to accelerate deleveraging. At the same time we aggressively move forward in Aggregates and Ready-Mix Concrete. These results are strong proof points for our Strategy 2022 and we will continue delivering across all value drivers," said chief executive officer (CEO) Jan Jenisch.
The group has made the forecasts as part of its Capital Markets Day taking place at Bardon Hill near Birmingham, UK.
Malaysia: Cahya Mata Sarawak’s (CMS) cement division profits have fallen so far in 2018 due to planned maintenance shutdown at its integrated plant and rising clinker prices. Its profit before tax dropped by 14% to US$16.7m in the first nine months of 2018 from US$19.6m in the same period in 2017. The division’s performance was also hit by an increase in the price of imported clinker. The company said that this occurred due to a spike in global demand, following the reduction of clinker production in China and continued high demand for clinker especially from Bangladesh and the Philippines. Overall, CMS’ sales revenue and profit have risen so far in 2018.