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India: Saurashtra Cement's net profit rose by 107% to US$6m in the fourth quarter of 2015, which ended on 31 March 2015, compared to US$2.89m during the prior year quarter. Sales declined by 21.6% to US$21.6m in the fourth quarter compared to US$27.5m during the 2014 fourth quarter.
For the full 2015 financial year that ended on 31 March 2015, Saurashtra Cement's net profit rose by 227% to US$10.6m compared to US$3.25m during its 2014 financial year. Sales rose by 6.04% to US$87.8m during the year.
Umm Al-Qaiwain Cement’s profit slides 93% 15 May 2015
UAE: Umm Al-Qaiwain Cement Industries Co has reported a profit drop of 93.3% to US$417,000 in the first quarter of 2015, compared to US$6.2m in the same period of 2014. The company had previously reported a net profit of US$1.58m in its 2014 financial year, a plunge of 67.3% from US$6.67m in 2013.
Egypt: Sinai Cement has reported a net loss of US$1.43m for the first quarter of 2015, which ended on 31 March 2015. In the same period of 2014 it posted a net profit of US$4.67m. Meanwhile, Misr Beni Suef Cement has reported a net profit of US$4.59m for the first quarter of 2015, which ended on 31 March 2015. In the same quarter of 2014 it posted a net profit of US$6.67m.
Kazakhstan: Steppe Cement Ltd has swung to a large pre-tax loss for 2014. The company said that its results were affected by the depreciation of the country's currency, the devaluation of the Russian Ruble and lower oil prices.
For the year ended on 31 December 2014, Steppe Cement reported a pre-tax loss of US$8.1m, compared with a pre-tax profit of US$13m in 2013, on revenues of US$117m and US$128m, respectively. Steppe Cement produced 1.6Mt of cement in 2014, up by 18% from the year ago period. It expects the overall Kazakh market demand for cement in 2015 to increase by 3% to 8.8Mt.
Philippines: The Philippine operations of Thailand's Siam Cement Group (SCG) recorded a double-digit growth in revenues in the first quarter of 2015 due to stronger demand. SCG's products being sold in the Philippines include building materials, ceramic tiles, sanitary wares, and paper.
SCG said that its revenues reached US$43m in the first quarter of 2015, 12% higher than the US$38m in the same period of 2014. The rise was attributed to growing demand in the sanitary wares and paper market in the Philippines.
"SCG in the Philippines currently focuses on penetrating the market as well as building the SCG brand to strengthen its position and recall among Filipino consumers," said SCG president and CEO Kan Trakulhoon.
For the Southeast Asian region, SCG's total revenues reached US$3.35bn in the first quarter of 2015, down by 10% year-on-year due to lower chemical prices as a result of declining oil prices. In line with its aim of developing more high-value added products and services to meet customer needs, SCG has set aside US$147m for investments for research and development in the Southeast Asian region in 2015.
Given the overall positive economic outlook in the region, SCG intends to continue to expand investments. "We are confident that the region's overall economy is continuing on an upward trend and is extremely favourable. Thus, SCG's investments regionally will continue to grow," said Trakulhoon.