China: Anhui Conch’s three-month net profit to 30 September grew by 13% year-on-year to US$602m in 2019 from US$533m in 2018. The company attributed this to a leap in total operating income to US$5.53bn over the period compared to US$4.54bn in the third quarter of 2018, representing an increase of 22%.
China Resources Cement’s nine-month profit falls
China: China Resources Cement (CRC), China’s seventh-largest producer of cement, has reported a net profit for the nine months to 30 September 2019 of US$739m, down by 4.9% year-on-year from US$775m in the corresponding period of 2018. Its third quarter profit in 2019 was US$259m, down by 1.9% year-on-year from US$264m. CRC attributed the fall to lower turnover and the weak performance of the Yuan compared to the Hong Kong Dollar.
Cemex’s third-quarter gross profit and operating EBITDA fall
Mexico: Cemex has reported a gross profit in the three months to 30 September 2019 of US$3.34bn, down by 8.0% year-on-year from US$3.64bn. Its operating earnings before interest, taxes, depreciation and amortisation (EBITDA) were US$1.88bn, down by 11% year-on-year from US$2.11bn in the three months to 30 September 2018. The company stated that lower volumes offset higher sale price in all regions.
Huaxin Cement shows nine-month net profit boom
China: Huaxin Cement has reported a net profit of US$680m for the period of nine months to 30 September 2019. This represents a 42% year-on-year increase from US$478m in the corresponding period of 2018. Its operating income over the period grew by 18% year-on-year to US$3.18bn from US$2.69bn. Huaxin Cement made several investments in emerging markets over the period, with its Uzbek plant in Zarafabad set to become operation in December 2019.
