Group revenue for the FY2022 increased by 24% y-o-y to $225.2 million as both the group’s cement and aluminium segments grew. Revenue from the cement segment grew due to the higher cement sales volume and selling price from the Alacem cement plant in Kazakhstan’s Almaty region. The higher revenue from the group’s aluminium segment was due to the higher construction activities in Singapore following the easing of Covid-19 restrictions.
International Cement Group (SGX:KUO
) has reported earnings of $17.9 million for the 2HFY2022 ended Dec 31, 2022, 34% higher than earnings of $13.3 million in the 2HFY2021.
This brings the group’s earnings for the FY2022 to $28.9 million, 10% higher y-o-y. Excluding foreign exchange (forex) losses due to the “major movements” of the Kazakhstani tenge (KZT), against the US dollar and the Chinese renminbi, the group’s earnings would’ve been at $34.5 million, 22% higher y-o-y.
