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The Board of Directors of International Cement Group Ltd. (the &ldquo Company&rdquo , and together with its subsidiaries, collectively the &ldquo Group&rdquo ) wishes to advise shareholders that the Group is expected to report lower profits for the second half ended 31 December 2020 (&ldquo 2H2020&rdquo ) and the full year ended 31 December 2020 (&ldquo FY2020&rdquo ) based on a preliminary assessment of the Group&rsquo s unaudited consolidated financial results for 2H2020 and FY2020. In an outlook update on 22 May 2020 and half year announcement for the six months ended 30 June 2020, the Company had already guided that the COVID-19 pandemic had severely impacted the global economy and brought about significant market volatility and uncertainty, including a sharp reduction in global demand for oil and in oil prices. This had resulted in significant depreciation of the Kazakhstani Tenge against the United States Dollar and Chinese Yuan in FY2020 and the Group&rsquo s operating subsidiary in Kazakhstan has significant foreign currency exposures arising from payables for the construction of its cement plant. In addition, due to a reduction in remittances caused by the COVID-19 pandemic, the National Bank of Tajikistan made a correction to harmonise official and black-market exchange rates in November 2020, causing a 10% depreciation of the Tajikistani Somoni against the United States Dollar. This development also led to unrealised foreign exchange losses for the Group, as the Group has significant foreign currency exposures due to its intercompany balances. In Kazakhstan, where the Group recently completed the construction of its second cement plant, its two main cities of Nur-Sultan and Almaty went into lockdown from mid March 2020 to May 2020, and implemented a second lockdown in early July 2020. Even though the cement plant started operations in April 2020 as planned, commencement of sales was delayed until the later part of the third quarter of 2020 which had resulted in operating losses for the plant during the 5-month period. Notwithstanding the above, the Group is still expected to record profits for 2H2020 and FY2020. The overall financial position of the Group remains healthy. The Group is in the process of finalising its unaudited financial results for 2H2020 and FY2020. Further details of the Group&rsquo s financial results will be disclosed when the Company announces its unaudited financial results for 2H2020 and FY2020, on or around 25 February 2021. In the meantime, shareholders and potential investors are advised to exercise caution when dealing in the shares of the Company. Persons who are in doubt as to the action they should take should consult their stockbrokers, bank managers, solicitors, accountants or other professional advisers.
Its a mixed result based on icg update:
highlighted in yellow are the negative news:
1)the Group is expected to report lower profits for the second half ended 31 December 2020 (&ldquo 2H2020&rdquo )
2)the National Bank of Tajikistan made a correction to harmonise official and black-market exchange rates in November 2020, causing a 10% depreciation of the Tajikistani Somoni against the United States Dollar.
3)Kazakhstan second cement commencement of sales was delayed until the later part of the third quarter of 2020 which had resulted in operating losses for the plant during the 5-month period.
highlighted in green are the positive news:
1)the Group is still expected to record profits for 2H2020 and FY2020
2)The overall financial position of the Group remains healthy
From what i read,current profit guidance is slightly below par performance as exchange rate losses and kazakhstan factory operating losses was not anticipated. However, the outlook for the company seems brighter as they have started to clear their backlog sales after the covid lockdown at kazakhstan which also means we will likely see a much improve performance on 2021.
Anyone with your view?Care to share your opinion?Dont know how MR market fair this.Thanks..
Its a mixed result based on icg update:
highlighted in yellow are the negative news:
1)the Group is expected to report lower profits for the second half ended 31 December 2020 (&ldquo 2H2020&rdquo )
2)the National Bank of Tajikistan made a correction to harmonise official and black-market exchange rates in November 2020, causing a 10% depreciation of the Tajikistani Somoni against the United States Dollar.
3)Kazakhstan second cement commencement of sales was delayed until the later part of the third quarter of 2020 which had resulted in operating losses for the plant during the 5-month period.
highlighted in green are the positive news:
1)the Group is still expected to record profits for 2H2020 and FY2020
2)The overall financial position of the Group remains healthy
From what i read,current profit guidance is slightly below par performance as exchange rate losses and kazakhstan factory operating losses was not anticipated. However, the outlook for the company seems brighter as they have started to clear their backlog sales after the covid lockdown at kazakhstan which also means we will likely see a much improve performance on 2021.
Anyone with your view?Care to share your opinion?Dont know how MR market fair this.Thanks..
TheMysteryDay024 ( Date: 20-Feb-2021 09:52) Posted:
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JERRY JERRY JERRY IS IN THIS STOCK. ROCKETTTTT!!!
HUAT LA! RECORDING PROFITS IN 2020. LAST CALL. ROCKETMAN TOO KIND ALR. KEEP WAITING. CHIONG LIKE AN OX. SHOW WHAT OTHER COUNTERS YOU ALL (BBs) CAN DO.
If you see construction activity or demand of cement is not getting better ahead, then sell.
Interestingly some interpret profit guidance in cement as good news and predict monday will go up. Just like sembmar. Profit warning and forumers say it will go up
muifan ( Date: 19-Feb-2021 21:18) Posted:
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Profit guidance ... jialat Liao
What you mean? Icg result will be announce on 25Feb 2021...mostly yum gong liao..
Sgvale ( Date: 19-Feb-2021 19:30) Posted:
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Transit Concrete halted. Int Cement?
the zeng kay do not want the counter to run..
expecting good results most probably...
expecting good results most probably...
trader1970 ( Date: 17-Feb-2021 15:50) Posted:
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Support esatblished at 71,... moving towards 73 again... then 75... not over yet...:)
First 73 then 75 and afternoon test 78...
break out, time to fly to 78..:)
Sgvale ( Date: 16-Feb-2021 14:46) Posted:
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Coming already
LAST CALL. ROCKETMAN IS HERE FOR REAL!
HUAT AH!!!! YEAR OF OX IS HERE!!
ALamak GKE kana dump yesterday, price tanked after opening up strongly. Beware, a lot of stuckists at high price in this stock. Good luck
TheMysteryDay024 ( Date: 10-Feb-2021 22:52) Posted:
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No fear! LOAD now, HUAT later! It' s going to follow a GKE soon.
Gke said its cement see good business . Int Cement should huat de ma
HUAT⁸ ⁸ ⁸ AH! TODAY PART 1.
Alvin2042 ( Date: 08-Feb-2021 06:58) Posted:
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Launch by spacex
TheMysteryDay024 ( Date: 08-Feb-2021 00:12) Posted:
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