Displaying items by tag: Results
Lucky Cement’s profit drops as fuel costs rise
29 January 2018Pakistan: Lucky Cement’s profit after tax fell by 2% year-on-year to US$77.6m in the half year to 31 December 2017 from US$79m in the same period in 2016. The cement producer said that its cost of sales had increased by 21% due to rising coal and other fuels prices. Its sales revenue grew by 5.2% to US$297m from US$283m. Its cement production rose by 5.4% to 3.68Mt from 3.49Mt.
The company completed a new 1.25Mt/yr production line at its Karachi cement plant in December 2017. It is currently seeking government approval to build a new 2.3Mt/yr plant in Punjab Province. However due to the delay it is considering expanding its Pezu plant by 2.3Mt/yr instead. The cement producer also expanded its grinding plant in Iraq by 0.87Mt/yr to 1.74Mt/yr.
UNACEM drives profit in 2017 on higher cement prices
29 January 2018Peru: UNACEM’s profit in 2017 rose due to a higher selling price of cement. Its net profit rose by 47% year-on-year to US$143m in 2017 from US$971.1m in 2016. Its income increased by 2.5% to US$595m from US$580m but its cement production fell slightly to 5.01Mt from 5.14Mt. Clinker production and cement despatches also fell. The cement producer blamed poor weather in the first half of 2017 that affected shipping at its Condorcocha plant as well as a general slowdown in the construction sector. It also reported that clinker exports more than doubled in 2017 to 0.55Mt from 0.21Mt.
Siberian Cement reduced production by 3% to 3.1Mt in 2017
26 January 2018Russia: Siberian Cement reduced its cement production by 3% year-on-year to 3.1Mt 2017. Production at its subsidiary Topkinsky Cement fell by 4% to 2.06Mt and at Krasnoyarsk Cement by 10% to 0.65Mt, according the Kommersant newspaper. Production at its Timluysky cement plant rose by 26% to 0.34Mt. Siberian Cement’s vice-president Gennady Rasskazov forecast that demand for its products will remain similar to 2017 in 2018. However, demand is anticipated to fall in some regions of the Siberian Federal District.
Carthage Cement’s turnover drops by 12% to US$72.8m in 2017
26 January 2018Tunisia: Carthage Cement’s turnover fell by 12% year-on-year to US$72.8 in 2017 from US$82.6m in 2016. Clinker production dropped by 17% to 1.3Mt and cement production by 12% to 1.4Mt. Local sales of cement decreased by 2% to US$52.7m and exports by 80% to US$1.9m. The cement producer blamed its poor sales on a decline in the export market.
SCG Cement sees sales growth in 2017 despite sluggish market
24 January 2018Thailand: SCG Cement’s sales revenue rose by 3% year-on-year to US$5.5bn in 2017. Its earnings before interest, taxation, depreciation and amortisation (EBITDA) fell by 6% to US$705m. The cement producer reported that overall domestic Ordinary Portland Cement demand fell by 5% in 2017 due to a slow recovery in the private sector. Total domestic consumption of cement was around 37.5Mt 2017 and exports rose to 4Mt from 3.7Mt in 2016.
Tunisia: Ciments de Bizerte’s cement and lime deliveries rose by 3% year-on-year to 0.63Mt in 2017 from 0.61Mt in 2016. Overall the cement producer’s turnover increased by 3.74%, according to African Manager. It reported a total turnover of US$25m in 2016. Upgrade work to the plant’s wharf is expected to increase exports in 2018 as well as receives petcoke supplies.
Jaiprakash Associates narrows net loss in third quarter
22 January 2018India: Jaiprakash Associates has narrowed its loss to US$23m in the third quarter of its financial year from US$171m in the same period in 2016. Despite this its income fell by 30% year-on-year to US$178m from US$258m, according to the Press Trust of India. The company has sold its assets, including a large number cement plants to UltraTech Cement, to reduce debt.
UltraTech Cement’s profit drops on fuel prices
18 January 2018India: UltraTech Cement’s profit after tax has dropped in the third quarter of its financial year that ends on 31 March 2018 due to rising costs of petcoke and coal. It also blamed a ban on petcoke usage in some states. Overall, its consolidated profit after tax for the first nine months of its financial year rose by 10% year-on-year to US$3.58bn from US$3.25bn in the same period in 2016. Its profit after tax fell by 10.5% to US$278m from US$311m.
The cement producer said that it had successfully launched the ‘UltraTech Brand’ in all the markets served by the plants it acquired from Jaiprakash Associates in 2017. It reported that production capacity utilisation is at 60% from a low of 18% at the time of the purchase. It is currently appointing new dealers and retailers in its new territories.
Steppe Cement revenue rises by 20% to US$65.6m in 2017
15 January 2018Kazakhstan: Steppe Cement’s revenue rose by 20% year-on-year to US$65.6m in 2017 from US$54.9m in 2016. Its sales volumes of cement rose by 4% to 1.63Mt from 1.57Mt. The cement producer says that its market share remained at 17% in the reporting period. Overall the country consumed 9Mt of cement in 2017. Steppe Cement’s exports doubled to 146,000t from 73,000t. Kazakhstan imported 0.7Mt of cement in 2017 compared to 0.5Mt in 2016. It exported 0.9Mt in 2017 compared to 0.4Mt in 2016.
Raysut Cement’s revenue falls by 22% to US$187m in 2017
15 January 2018Oman: Raysut Cement’s revenue fell by 22% year-on-year to US$187m in 2017 from US$240m in 2016. Its profit after tax fell by 66.6% to US$18m from US$53.8m. In November 2017 the cement producer blamed its falling profit on lower sales due to competition locally and in export markets, disruption to its export market in Yemen resulting from the on-going civil war and increased energy prices.