Ambuja Cements reports 26% rise in net profit after tax in 2Q14
In its second quarter results, India’s Ambuja Cements reports growth in volumes, sales and profits.
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In its second quarter results, India’s Ambuja Cements reports growth in volumes, sales and profits.
Cementos Argos recorded an 87% y/y increase in net profit and a 12% y/y rise in consolidated EBITDA in the first half of 2014 (ended 30 June).
Cement continues to do well in the Philippines where reconstruction efforts and increased infrastructure spending are driving cement demand.
The US President has launched the Build America Investment Initiative, which is designed to boost infrastructure investment and economic growth through public-private partnerships.
The Egyptian cement company has made the decision to invest in new equipment to fire coal at the plant after a prolonged period of energy shortages and price hikes.
The UK Secretary of State for Energy and Climate Change has announced that no amendments will be made to the fourth carbon budget (2023 – 2027), a decision that has been welcomed by the Committee on Climate Change.
According to local reports, Chettinad Cement Corporation has increased its stake in Anjani Portland Cement to 66.08%.
The IFC will provide National Cement Company Ltd with US$70 million, which will enable it to increase its production capacity to 1.7 million tpa.
Lafarge Pakistan Cement Ltd has been acquired by the UK-based Bestway Group, which already has cement operations in Pakistan.
In 2Q14, Suez Cement’s consolidated revenues totalled EGP1.719 million, while recurring EBITDA rose to EGP373 million.
It is being reported that a court in Uzbekistan has annulled Eurocement’s 2006 acquisition of a 75% stake in Akhangarancement.
The energy efficiency framework outlined by the European Commission will lower European carbon prices if not compensated by the implementation of the Market Stability Reserve.