Australia: Adelaide Brighton says that it expects its net profit, after tax excluding property, to be no higher than US$90m in 2019. This is a further reduction on the forecast of around US$110m it made in May 2019. It has blamed poor residential and civil construction markets, continued competition in Queensland and South Australia, growing raw material costs and fees related to a cancelled import order.
Saudi Cement’s sales rise by 26% to US$194m in first half of 2019
Saudi Arabia: Saudi Cement’s sales revenue rose by 26% year-on-year to US$194m in the first half of 2019 from US$154m in the same period in 2018. Its net profit after Zakat and tax grew by 12% to US$59.9m from US$53.4m.
Southern Province Cement’s sales rise by 37% to US$165m in first half of 2019
Saudi Arabia: Southern Province Cement’s sales revenue rose by 37% year-on-year to US$165m in the first half of 2019 from US$121m in the same period in 2018. Its net profit after Zakat and tax grew by 53% to US$56.3m from US$36.8m.
Siam City Cement Vietnam granted licence for kiln and quarry project
Vietnam: Kien Giang province has granted an investment licence to Siam City Cement Vietnam for a limestone and clay mining project and a clinker kiln project in Kien Luong district. Both projects have a combined investment of around US$470m, according to the Viet Nam News newspaper. The subsidiary of Thailand’s Siam City Cement Group operates five plants in the country following its acquisition of Holcim Vietnam in 2017.
