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China: Anhui Conch Cement’s net profit has dropped by 45% year-on-year to US$123m in the first quarter of 2016 from US$233m in the same period in 2015. Its revenue fell by 5.5% to US$1.63bn from US$1.73bn. It attributed the decreases in profit and sales revenue to falling prices.
CRH reports 9% rise in sales in first quarter of 2016 27 April 2016
Ireland: CRH has reported in a trading update that its overall sales rose by 9% year-on-year in the first quarter of 2016. By region it saw a 22% increase in the Americas, a 12% increase in Asia and no increase in Europe. No specific figures were released in the statement issued ahead of the company annual general meeting.
The Ireland-based construction materials producer’s Europe Heavyside division noted that cement sales volumes grew in the UK and Finland. Cement sales volumes were ‘broadly in line with 2015’ in Poland. In the Philippines CRH reported that cement demand was supported by strong foreign direct investment in the business process outsourcing sector, overseas workers' remittances and increasing government infrastructure spending.
CRH expects demand for its products to grow in the US and the Philippines in its outlook for the second half of 2016. In the US funding for infrastructure is expected to increase moderately with improving state finances and the passing in 2015 of the Fixing America's Surface Transportation (FAST) Act. It also expects residential and non-residential construction to grow.
Jagdish Chandra Toshniwal appointed managing director of Wonder Cement
Written by Global Cement staff
27 April 2016
India: Wonder Cement has appointment of Jagdish Chandra Toshniwal as its managing director. Toshniwal takes over from DP Somani who was with the company for over seven years.
Toshniwal originally studied at the Birla Institute of Technology and Science in Pilani. He started his career with Udaipur Cement in 1975 before spending nearly 18 years working for Ambuja Cement. Toshniwal joined Wonder Cement in 2015 as an executive director.
Lafarge Zimbabwe posts US$1.97m loss in 2015 25 April 2016
Zimbabwe: Lafarge Cement Zimbabwe has reported a loss after tax of US$1.97m year-on-year in 2015. The company blamed it on a sub-optimal portfolio and price mix despite sales volumes growth. Its revenue grew by 2% to US$61.6m from US$60.5m and its cement sales volumes grew by 5%, according to the Herald newspaper.
The subsidiary of LafargeHolcim said that sales volumes were aided by its strategy of targeting distribution better supported by improvements in the local market. However, it added that sellers’ demand for discounts when buying in bulk have adversely affected cement prices. The cement producer expects prices to stay low in 2016 but it will aim for increased profits by cutting operational costs and increasing marketing.
Vietnam: LafargeHolcim is considering leaving Vietnam due to oversupply of cement in the local market, according to Nguyen Cong Bao, general director of Holcim Vietnam. The company met with the Ministry of Construction to notify it of its forthcoming business plans in Vietnam. Bao’s statement was reported by the Dau Tu newspaper.
The cement producer has five cement plants with a production capacity of 6Mt/yr, making it the largest manufacturer in the country. It also operates eight ready-mixed concrete plants. The Vietnam Cement Industry Corporation (Vicem), the country’s leading cement producer, holds a 35% stake in Holcim Vietnam. LafargeHolcim retains the brands of Lafarge and Holcim’s products including Lavilla (Lafarge) and Holcim Power-S. Holcim Vietnam holds 26% of the domestic market and Lafarge Vietnam holds 12% of the market.