International Cement Group

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.

The increase in its stake in the cement plant is said to be able to generate more earnings for the group.

The group is estimated to post forex losses of around $8 million in FY2022 due to the depreciation of the Kazakhstani tenge.

Shares in International Cement Group closed 0.1 cent higher or 4.17% up at 2.5 cents on Jan 13.

The group says it is “unable to quantify the extent of the financial impact of the unrest”.

The consideration of the shares acquired in the JV stood at ($831.75).

The group says the proposed acquisition is an opportunity to establish a stronger foothold in Central Asia.

Directors of ICG, Vibropower and Vibrant raise shareholdings in respective firms.

International Cement posts 23% rise in 1H earnings

SINGAPORE (Apr 22): The listed entity once known as Compact Metal Industries has pivoted from a struggling aluminium parts maker into a cement producer called International Cement Group. ICG plans to set up cement plants across parts of the developed worl