Cement makers shine after Q1 results
Published by Joseph Green,
Editor
World Cement,
Reuters are reporting that cement maker ACC Ltd has risen as much as 1.5% to a one-week high. Ambuja Cements has also gained as much as 2.4%.
ACC announced cement sales volume rose 9% during Q1, due to an increase in infrastructure activities.
The company's revenue was in line with expectations, but EBITDA was ahead of expectations on lower-than-expected other expenses.
Ambuja posted a 9.5% rise in cement sales volume for Q1, while energy costs were lower by 19%, due to low fuel prices and increased usage of petcoke and alternate fuel.
Strong outlook on northern and eastern regions, and attractive quality of operations continue to drive the positive view on Ambuja's stock.
Edited from source by Joseph Green. Source: Reuters
Read the article online at: https://www.worldcement.com/indian-subcontinent/29042016/cement-makers-shine-q1-results-10/
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