Displaying items by tag: Results
West China Cement raises sales in first half of 2023
22 August 2023China: West China Cement recorded sales of US$605m during the first quarter of 2023, up by 5.6% year-on-year from US$573m in the first half of 2022, Reuters has reported. Nonetheless, its net profit dropped by 19% to US$72.9m from US$90.6m.
Gansu Qilianshan Cement’s profit falls in first half of 2023
22 August 2023China: Gansu Qilianshan Cement followed the general downward trend in Chinese cement producers’ results in the first half of 2023. Reuters has reported that the company recorded a net profit of US$32.6m, down by 53% year-on-year from first half of 2022.
China: China Resources Cement’s turnover was US$1.69bn during the first half of 2023, down by 27% from US$2.23bn during the first half of 2022. Reuters has reported that China Resources Cement recorded a net profit of US$86m, down by 66% year-on-year from US$250m.
China Tianrui Group’s sales drop in first half of 2023
21 August 2023China: China Tianrui Group recorded sales of US$554m during the first half of 2023, down by 25% year-on-year from US$737m in the first half of 2022. Reuters has reported that the producer’s net profit dropped by 67%, to US$20.9m from US$63.2m.
Fletcher Building’s sales flat in 2023 financial year
16 August 2023New Zealand: Fletcher Building recorded sales of US$5.07bn during the 2023 financial year, down slightly year-on-year from US$5.08bn in the 2022 financial year. Its earnings before interest and taxation (EBIT) fell by 29% to US$296m from US$419m. The drop in earnings was mainly attributed to additional costs allocated to the New Zealand International Convention Centre and Hobson Street Hotel project. Adjusted for significant items, the group’s EBIT rose by 6% to US$477m from US$452m.
Throughout the year, Fletcher Building’s cement subsidiary Golden Bay Cement co-processed 100,000t of waste as alternative fuel (AF). The producer awarded a bottom ash supply contract to Huntly Power Station. It also launched EcoZero carbon neutral cement, which is its EcoSure reduced-CO2 cement with the remaining emissions offset.
Chief executive officer Ross Taylor said “Looking forward to the 2024 financial year, we expect some further tightening in our overall volumes and so our focus remains on strong customer performance, cost control and pricing disciplines across our businesses. We have shown we are well equipped to continue performing solidly through the cycle.”
India: JK Cement’s sales were US$3.31bn during the first quarter of the 2024 financial year. This corresponds to year-on-year growth of 22%, from US$2.73m a year earlier. Nonetheless, its net profit dropped by 29%, to US$136m from US$193m.
Sinai Cement increases sales in first half of 2023
15 August 2023Egypt: Sinai Cement’s consolidated sales more than doubled year-on-year during the first half of 2023, to US$76.5m from US$33.2m, Arab Finance News has reported. As such, the company succeeded in reducing its net losses to US$2.58m, compared to US$3.31m in the first half of 2022.
Monarch Cement raises sales in first half of 2023
14 August 2023US: Monarch Cement’s consolidated sales were US$122m in the first half of 2023, up by 27% year-on-year from US$95.8m during the first half of 2022. The producer’s retained earnings rose by 15% to US$311m from US$271m.
Throughout the first half of 2023, Monarch Cement recorded cement sales of US$71.7m (23% of total sales), up by 29% from US$55.4m (20% of total sales) in the first half of 2022.
Boral’s revenues rise in 2023 financial year
11 August 2023Australia: Boral’s sales were US$2.28bn in the 2023 financial year, which ended on 30 June 2023. This corresponds to a 38% year-on-year rise from the previous first half. The group’s net profit dropped by 1.3% to US$96.6m. It noted a rise in its costs of energy, labour and transport, which it expects to continue up to the end of June 2024, and possibly on throughout the second half of 2024.
The Sydney Morning Herald newspaper has reported that Australian residential construction activity dropped by 7.7% month-on-month in June 2023. Boral CEO Vik Bansal said that the company expects residential, commercial and civil construction to return to growth in the 2024 financial year.
Loma Negra publishes first-half 2023 results
11 August 2023Argentina: Loma Negra’s sales dropped by 2.1% year-on-year to US$353m in the first half of 2023, from US$361m in the first half of 2022. The company’s cement and lime sales were 3.15Mt, in line with first-half 2022 volumes. Its adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) fell by 23% to US$86.8m, while its net profit dropped by 32% to US$31.1m from US$45.9m.