Displaying items by tag: Results
Holcim Liban net profits down 78% in first half of 2015
08 September 2015Lebanon: Holcim Liban has reported US$2m of unaudited net profits in the first half of 2015, a decrease of 78.3% from net earnings of US$9.4m in the same period of 2014. The company's sales fell by 28.5% year-on-year to US$66.7m in the first half of 2015. Its gross profits margin reached 28% compared to 30.7% in the first half of 2014. Holcim Liban's assets fell by 3% year-on-year to US$275m at the end of June 2015
Ras Al Khaimah Cement reports lower first half profit
07 September 2015UAE: Ras Al Khaimah Cement Company has reported a decline in its net profit for the first half of 2015 to US$0.67m from US$0.86m in the same period of 2014.
Bamburi Cement profit up 94% in first half
28 August 2015Kenya: Bamburi Cement has reported a 94% jump in its pre-tax profit for the first half of 2015 to US$43m compared to the first half of 2014. Turnover grew to US$186m from US$166m, as governments and others continued to invest in infrastructure projects.
The company attributed the strong performance to growth in demand in its two main markets of Uganda and Kenya, cost cutting and gains in its US-Dollar-based liquid assets due to a steep weakening of the Ugandan and Kenyan currencies. Exports to other African markets were also strong.
"The outlook for the rest of 2015 is stable, with projected and continued positive growth in all regional East African economies," said Bamburi in a statement.
Cherat Cement revenue up but profit down
28 August 2015Pakistan: Cherat Cement Company posted a profit of US$12.4m in the year ending 30 June 2015, a slight decrease from US$12.7m a year earlier. Turnover rose to US$63.2m compared to US$62.1m a year ago.
Cementos Argos helped by rising capacity, better conditions and exchange rate effects in first half
27 August 2015Colombia: In the first half of 2015, Cementos Argos recorded revenues of US$1.09bn, 26% more than in the same period in 2014. Its earnings before interest, tax, depreciation and amortisation (EBITDA) were US$210m, 31% higher than during the first half of 2014.The company sold 14% more cement in the first half of 2014 compared to the first half of 2014, with sales rising to 6.8Mt.
Jorge Mario Velásquez, Cementos Argos' CEO, said, "The consolidated results of the first half of the year show the good individual performance of our business segments and of our growth and market diversification strategy. Thanks to this, Argos is now recording more than 60% of its revenues in US Dollars or currencies closely tied to the US Dollar, which is a situation that puts us in a privileged position given the current circumstances."
In Colombia, Cementos Argos obtained revenues of US$403m, 13% more than in the first half of 2014. During the quarter, the expansion of the Rioclaro Plant became operational, adding 0.9Mt of installed capacity. Its EBITDA in the country was US$91m, which was an improvement of 15% year-on-year.
In the United States an increase in government expenditure, the increase in construction licenses and the highest housing construction levels seen in the last seven years all contributed to an EBITDA of US$49m in the first half, an 89% rise compared to the same period last year.
CRH first half results show increase in sales and earnings
27 August 2015Ireland: CRH has reported improved results for the first half of 2015. It reported that sales increased by 13% year-on-year to Euro9.4bn over its global operations. Although sales fell by 1% in Europe, they rose by 32% in the Americas. Earnings before interest, tax, depreciation and amortisation (EBITDA) from continuing operations were up by 29% globally, by 4% in Europe and by 57% in the Americas. CRH's profit before tax was Euro63m, a 3% improvement on its Euro61m pre-tax profit it made in the first half of 2014.
CRH reported that the acquisition of assets from Lafarge and Holcim were now fully integrated into CRH. It has also announced a further Euro1.15bn acquisition of US-based glass manufacturer C R Lawrence.
"We are on track to deliver another year of growth in 2015," said Albert Manifold, CEO of CRH. "Trading in the Americas has been good and, against a mixed macro-economic backdrop, underlying trading in Europe is broadly in line. We have made good progress towards achieving our goal of restoring margins and returns to peak over the cycle, with further margin improvement in each operating division. We are now applying CRH rigour to (our) new businesses to integrate them efficiently and to drive performance."
Boral annual profit up by nearly a half
27 August 2015Australia: Boral has recorded an increase in full-year profit, buoyed by the return to profitability of its US business for the first time since 2007, a pick-up in local demand and cost-cutting initiatives.
Australia's largest building materials provider posted a net profit of US$183m in the year to 30 June 2015, a 48.3% increase on the previous year's US$123m. Underlying profit rose by 45% to US$178m. However, Boral's total revenue over the same period fell by 15.2% to US$3.15bn.
Boral chief executive Mike Kane said that the results reflected the benefits from the company's overhaul of its business which reduced the size of its workforce and resulted in the closure of some unprofitable operations. "We've improved Boral's cost base, strengthened the balance sheet and we are managing our portfolio of businesses more efficiently," he said.
In the current 2016 fiscal year, Boral said it will focus on maintaining underlying earnings from construction, materials and cement, while property earnings remain uncertain. Building products are seen remaining broadly steady, while USGBoral will deliver further underlying improvement.
Jiangxi Wannianqing Cement's first half net profit plummets
25 August 2015China: Jiangxi Wannianqing Cement has reported that its first half net profit fell by 61.2% year-on-year compared to the first half of 2014 at US$15.3m.
YTL Corporation’s net profit down by 15.6%
21 August 2015Malaysia: YTL Corporation saw a 15.6% year-on-year decline in net profit to US$71.8m for the quarter that ended on 30 June 2015. Its revenue fell by 10.6% to US$987m. YTL Corporation attributed the decline to lower contributions from cement manufacturing and trading, information technology and e-commerce-related business, property investment and development, hotels and utilities.
For the full year that ended on 30 June 2015, YTL Corp's net profit fell from 31% to US$257m, due to lower contributions from cement manufacturing and trading, property investment and development and utilities. During the year, revenue fell by 12.7% to US$3.85bn.
Arabian Cement’s net profit grows to US$15.9m
21 August 2015Egypt: Arabian Cement Company's net profits grew to US$15.9m in the first half of 2015, up from US$13.8m in the same period of 2014.