Displaying items by tag: Results
ACC struggles amid rising costs
20 July 2015India: Rising costs have reduced ACC's profit substantially in the April – June 2015 quarter, despite its revenues meeting expectations.
In spite of selling more cement, ACC's net realisation fell by 3% compared to the January - March 2015 quarter and was also slightly lower year-on-year. The fall was attributed to low cement prices in the June 2015 quarter, which is normally robust considering the fast-paced pre-monsoon activity, as well as a significant rise in operating cost per tonne. ACC's June quarter performance reflects the trend of cost pressures and weak realisations across the sector.
Shiva Cement's cement dispatches up by 16%
20 July 2015India: Shiva Cement's dispatches of cement and clinker in the April – June 2015 quarter rose by 16% year-on-year, according to MoneyControl.
Kuwait Portland Cement results
17 July 2015Kuwait: Kuwait Portland Cement Company earned US$17.2m in the first half of 2015, an 11% drop compared to the US$19.4m that it earned in the first half of 2014.
Qatar National Cement’s profit up in second quarter
16 July 2015Qatar: Qatar National Cement Company's net profit grew by 2% to US$66.6m for the financial quarter ending 30 June 2015, compared to US$65.3m in the same period of 2014, according to the Qatari news agency.
Kazakhstan: According to Dow Jones, Steppe Cement said that it sold more cement, but at a lower price, in the first half of 2015 due to the unfavourable exchange rate between the Kazakhstan Tenge and the Russian Ruble. The company sold 717,654t of cement for US$44.4m in the first half of 2015, compared to 709,459t of cement for US$48.9m in the same period of 2014.
Raysut Cement net profit falls 33%
14 July 2015Oman: According to Reuters, Raysut Cement posted a 33% drop in its second-quarter net profit. It made US$12.8m in the second quarter of 2015 compared with US$19.1m in the same period of 2014. Raysut Cement reported a first-half post-tax profit of US$28.5m compared to US$40.5m in the same period of 2014.
China: According to Reuters, Jiangxi Wannianqing Cement expects its net profit for the first half of 2015 to fall by 50 – 70% year-on-year to US$12.2 - 20.3m. It has blamed the fall on weak selling prices.
Czech Republic: According to CTK Business News, Ceskomoravsky Cement's profit rose by 25% to Euro27.2m in 2014, while its revenues grew by almost Euro3.69m to Euro102m.
Total cement consumption in the Czech Republic grew by nearly 4% to 3.34Mt in 2014, mainly thanks to the revival of the construction sector and favourable weather conditions.
"The value of public contracts increased by 6.7% in 2014, so we can view 2015 with slight optimism," said Ceskomoravsky Cement's board chairman Jan Hrozek.
Ceskomoravsky Cement, part of Germany's HeidelbergCement, supplied its products mainly for the modernisation of the D1 motorway in 2014. Its important projects also included repairs of concrete surfaces at Vaclav Havel Airport Prague.
Oman: According to Middle East North Africa Financial Network, Oman Cement has reported a more than 40% decline in net profit for the first six months of 2015. Net profit fell to US$14.1m from US$23.6m a year earlier.
Oman Cement's sales revenue declined marginally to US$65.7m in the first half of 2015 compared with US$66.7m in the corresponding period of 2014. Investment and other income fell sharply by 54.1% to US$4.68m from US$10.2m in 2014. As a result, Oman Cement's total revenue fell by 7.7% US$70.9m.
In June 2015, Oman Cement disclosed that due to operational difficulties it had to prolong the shutdown of one of its kilns. The kiln, with 4000t/day clinker production capacity, was closed for planned maintenance, which was to be completed in early June 2015. Oman Cement warned that the prolonged shutdown of a kiln would have an impact on its second-quarter performance.
Oman Cement's total expenses rose by 8.2% to US$55.3m in the first six months of 2015 compared to US$51.2m in the same period of 2014. The Ministry of Oil and Gas had increased the price of natural gas supplied to industrial companies by 100% from 1 January 2015. As such, Oman Cement's gas price was hiked from US$1.5/mmbtu to US$3/mmbtu. The company expects its gas costs to rise by an estimated US$17.2m in 2015.
China: According to Dow Jones, West China Cement expects to report a 'significant decrease' in net profit for the six months that ended on 30 June 2015, compared with the US$25.8m net profit for the six months that ended on 30 June 2014. West China Cement said that the anticipated decline is mainly tied to the low average selling price of cement in the past 12 months. It added that it was unable to maintain 'reasonable selling prices and healthy margins' in the southern part of Shaanxi.