Displaying items by tag: Results

Egypt: In a statement sent to EGX, Sinai Cement recorded first half net losses of US$11.3m, an increase of 20.1% on the US$4.00m recorded in losses in the same period of 2018.

Australia: Boral has suffered a decline in full year net profits of 38% to US$184m. This comes following USG-Boral’s statement regarding substantive changes to its gypsum dealings with Knauf.

Nigeria: Dangote Cement’s net first half profits have increased by 5.4% to US$329m from US$312m in 2018. The Cement Company of Northern Nigeria have reported a corresponding increase of 163% to US$40,000 from US$15,000.

Kenya: Bamburi Cement’s first half profits have declined year-on year by 96% to US$0.22 from US$6.99m. Its Building for Growth strategy has seen the topline hold steady amidst setbacks to demand, including higher operating costs and reduced uptake from the Standard Gauge Railway, one of numerous infrastructure projects impacted negatively by rising tensions between Rwanda and Uganda.

Egypt: Misr Beni Suef Cement has reported net profits for the six months to 30 June 2019 of US$2.76m, down by 78.8% from US$13.0m in the same period of 2018. This is part of a wider profit slump for Egyptian domestic cement producers, with Misr Cement Qena’s first half figure down by 85.2% to US$0.87m from US$6.00m a year ago.

China: The net profit of Anhui Conch Cement in the first half of 2019 was US$2.15bn, up 17.9% from US$2.11bn at the close of the first half of 2018. Anhui Conch’s interim report stated that the gross profit margin increased in the eastern and central regions by 2.67% and 0.51% respectively in response to steadily increasing market demand, and remained flat year-on-year in the southern region in spite of adverse weather precipitating a decline in the local market.

Ireland: CRH’s revenue for the six months up to 30th June 2019 was Euro13.2bn, up 11% from Euro11.9bn over the same period in 2018, with a 36% increase in EBITDA to Euro1.54bn from Euro1.13bn in the first half of 2018.

In its interim results, CRH attributed increased cement volumes in the US to synergy delivery and strong price realisation in spite of adverse weather conditions in its key markets, noting ‘a strong contribution from our Ash Grove acquisition,’ obtained at the end of June 2018.

A general improvement in cement pricing in the EU28 saw operating profits ahead of the first half of 2018, with increased demand in the French market from non-residential and civil engineering sectors offsetting the effects of reduced residential demand. The UK market reversed this trend, with operating profit behind 2018 due to higher input costs and volume pressure.

In addition to operating profit improvements reported by subsidiary businesses in the Philippines, CRH group benefited from its share in profit after tax of China’s Yatai Building Materials and India’s My Home Industries Limited, both of which enjoyed improved operating profits compared to 2018.

China: Tianrui Cement’s revenue rose by 27.6% year-on-year to US$778m in the first half of 2018 from US$610m in the same period in 2017. Its profit grew by 63.9% to US$131m from US$80m. Its cement sales volumes rose by 9.8% to 14.6Mt. Sales increased faster in Central China than Northeastern China. It attributed the result to its market strategy and increased prices.

Brazil: Votorantim Cimentos’ revenue rose by 3.8% year-on-year to US$1.44bn in the first half of 2019 from US$1.39bn in the same period in 2018. Sales growth was driven by ready-mixed concrete and the company’s other businesses as cement sales fell slightly. It reported a profit of US$29.4m compared to a loss of US$72m previously. Its cement sales volumes fell by 6% to 13.8Mt from 14.7Mt.

"In the first half of the year, we achieved net revenue growth and stability in our leverage, even though the Brazilian economy has not yet achieved the anticipated recovery and despite the impact of an atypical seasonality in North America. In this second quarter, we followed our investment plan and inaugurated a new production line of mortar, in Cuiabá, and one of agricultural solutions, in Nobres, both in the Brazilian state of Mato Grosso," said Osvaldo Ayres Filho, Global chief financial officer (CFO) of Votorantim Cimentos. The company added that higher prices in Brazil, growing sales in North America and positive currency effects successfully offset poor results in Turkey.

Australia: Wagners’ net profit fell by 49% year-on-year to US$8.66m in its financial year to 30 June 2019 from US$16.8m in the same period in 2018. It blamed lower cement sales volumes on a dispute with Boral and a delay in large infrastructure projects. It suspended its supply of cement to Boral in March 2019 when the latter company said it had found cheaper cement from a ‘long established’ supplier in South East Queensland. Wagners sales revenue grew by 2.3% to US$161m from US$157m.