Global Cement News

Qatar: Qatar National Cement Company recorded revenues of US$106m in the first half of 2022, down by 5.7% year-on-year from US$113m in the first half of 2021. Despite this, the producer's net profit underwent an 18% year-on-year increase to US$30.5m from US$25.9m.

Saudi Arabia: Qassim Cement's sales fell by 30% year-on-year to US$78.4m in the first half of 2022 from US$112m in the first half of 2021. High costs compounded the decline to result in a net profit drop of 73% to US$14.4m from US$53.5m. The fall in profit was less sharp in the second quarter of 2022 than in the first: it fell by 75% year-on-year to US$6.68m in the first quarter of the year and by 71% year-on-year to US$7.71m in the second quarter of the year.

India: Shaurashtra Cement's results for the first quarter of its 2023 financial year have shown a 30% year-on-year increase in the company's revenues to US$26.9m from US$20.6m in the first quarter of the previous financial year. Meanwhile, it recorded a US$128,000 net loss, compared to a US$1.61m profit in the first quarter of the 2022 financial year.

Taiwan: Taiwan Cement recorded sales of US$1.67bn in the first half of 2022, up by 2.5% year-on-year from US$1.62bn in the first half of 2021. The group's cement segment increased its sales revenues during the half by 8.2% to US$1.42bn from US$1.31bn. Cement thus contributed 86% of revenues during the period. Net income attributable to the company's shareholders during the half totaled US$251m, down by 5.1% US$264m.

China: China National Building Material subsidiary Gansu Qilianshan Cement recorded an operating income of US$581m in the first half of 2022, up by 20% year-on-year from US$485m. Despite this, the producer's net profit during the half declined by 16% to US$73.7m.