Cement News tagged: Corporate
Increased sales boost ARM Cement's 9M12 pretax profit, Kenya
Kenya’s second largest cement producer ARM Cement (formerly Athi River Mining) said in the first nine months pretax profit rose to KES1.2bn (US$14.1m) from KES296m, driven primarily by higher sales of Rhino Cement. Rhino Cement, which is ARM's flagship operation set up in 1997, launched its Tanzania cement production plant in Dar es Salaam this month. Turnover for the first three quarte...
Qatar National Cement net profit rises
Qatar National Cement Company (QNCC) posted a net profit of QAR321.4m (US$88.3m) for the nine months period ended September 30, 2012 compared to a net profit of QAR329m for the corresponding period last year. Earnings per share amounted to QAR6.55 for the period ended September 30, 2012 versus QAR6.70 for the corresponding period in 2011.
Breedon Aggregates withdraws from Tarmac/Lafarge asset bid, UK
Breedon Aggregates, the building materials group, said it has withdrawn from bidding to acquire assets being off-loaded by Lafarge and Tarmac. The two firms have been forced to sell by the Competition Commission before a construction materials joint venture can go forward. ??Earlier in October, Breedon submitted offers to the sellers' advisers for a number of the assets. "In the event, t...
ACC reports 52 per cent rise in 2QFY13 net profit
ACC Ltd reported the growth of 52 per cent in its consolidated net profit for the second quarter of FY12-13 and expects its sales volume to increase in the next quarter as the monsoon season has ended. Net profit during the July-September period was INR2.42bn rupees (US$45m) against INR1.59bn a year ago. Net sales rose 12 per cent to INR25.56bn during July-September 2012 period but sales vol...
Pakistan cement producers post first quarter profit
Two leading Pakistan cement manufacturers have reported a rise in first quarter FY13 profit. Maple Leaf Cement Factory Limited posted PKR384.409m profit in the quarter ended September 30, 2012 as compared to after tax loss of PKR228.279m in the same period last year. According to the financial results sent to Karachi Stock Exchange, the company's net sales increased to PKR3.807bn in this ...
Gansu Qilianshan Cement net profit drops, China
Gansu Qilianshan Cement Group reported a 3.95 per cent YoY decline in third quarter net profit to CNY141m (US$22.5m). In the first three quarters, net profit fell 57.48 per cent to company reaped CNY167m net profits in the first three quarters, falling by 57.48 percent over the period last year. Operating revenues reached CNY1.352bn in the third quarter, rising by 20.28 per cent YoY. Operati...
Semen Gresik to issue US$150m global bonds next year, Indonesia
PT Semen Gresik plans to issue US$150m of global bonds in 2013 to finance its plan to buy a smaller rival in Southeast Asia, Reuters reported the company’s CEO Dwi Sutjipto saying. He said earlier that the company plans to issue around US$500m of global bonds this year but the firm decided to delay the issuance. Sutjipto also said it plans to raise an additional IDR3-4trn (US$417.32m) via a...
JPMorgan acquires 2.41m H-shares in Conch Cement
JPMorgan Chase & Co purchased 2.41 million H-shares in Anhui Conch Cement Co Ltd, a major cement producer in China, at HK$ 24.28 per share, a total value of HK$ 58.62 million, media reported, citing information released by the Hong Kong Stock Exchange. After the purchase, JPMorgan will hold 197.21 million shares (or a 15.18% stake) in Conch Cement. (Source: China Business Newswire)
Aditya Birla resumes talks with Jaypee over cement assets – report
The Aditya Birla Group has restarted negotiations with Jaikprakash Associate’s to buy out its Jaypee Cement Corp plants in Gujarat and Andhra Pradesh, the Economic Times (ET) of India reports. Birla is understood to have made an offer of up to US$130/t to acquire cement assets with a total capacity of 9.8Mt, two sources close to the negotiations said. Talks between the two companies fell th...
Fitch affirms Societe des Ciments d'Enfidha's long-term rating, Tunisia
Fitch Ratings has affirmed Tunisia-based cement manufacturer Societe des Ciments d'Enfidha's (SCE) National Long-term rating at 'BBB(tun)' and National Short-term rating at 'F3 (tun)'. The Outlook is Stable. The affirmation reflects SCE's recovery of an adequate trading performance in the first eight months of 2012 after production recovered to pre-revolution levels at its Enfidha plant. ...
Steppe Cement CEO raises stake in the company, Kazakhstan
Javier Del Ser, the CEO of Steppe Cement, increased his stake in the firm on Tuesday with the purchase of 650,000 ordinary shares at a price of 25p per share, according to reports by ShareCast. Following the GBP162,500 transaction, Del Ser holds 12,867,660 ordinary shares in the company, equal to 7.19 per cent of the total issued share capital, Steppe is a leading cement producer in Kaza...
Cemex's nine-month EBITDA rises 9%
In the first nine months of the year, Cemex’ turnover decreased 2.1 per cent to US$11,273.8m but the EBITDA did improve nine per cent to US$2003.2m. The company's gearing is coming down but is still at very high levels. For the nine months to September 2012, the trading profit rose by 37.8 per cent to US$1921.8m and the net interest charge increased by 3.7 per cent to US$1044.8m. After tak...
Steppe 3Q12 revenue increases, revises Kazakhstan demand outlook upwards
Kazakhstan-based producer Steppe Cement Ltd said 3Q12 revenue of KZT7.23bn (US$48m) was 28 per cent higher than the corresponding quarter in 2011 and has revised the demand outlook for the Kazakhstan market upwards for full year 2012. For the nine months ended 30 Setptember, Steppe Cement recorded revenue of KZT14.96bn compared with KZT11.93bn in the corresponding nine month period in 2011,...
Sichuan Shuangma Cement expects net loss in 9M12, China
Sichuan Shuangma Cement Co Ltd, a Shenzhen-listed producer and distributor of cement, said that it will post a net loss of CNY5m to CNY10m (US$0.8m-1.6m) in the first three quarters of 2012, compared with a net profit of CNY 123m in the same period of 2011.
Cemex interested in investing in INC
Industria Nacional de Cemento, has reported that Mexican cement giant Cemex has expressed an interest in investing in the Paraguayan state-owned producer. According to INC’s head, Carlos Krüssel, Cemex would transfer its technology to and possibly invest in INC. Mr Krüssel just completed a visit to a Cemex plant in Mexico to learn about Cemex’s plants and their experience in the provision ...
Saudi Cement 3Q12 net profit rises, Saudi Arabia
Saudi Cement Co reported a 7.3 percent increase in quarterly profits on higher domestic sales, Reuters reported. The company said it made US$56m net profit during the third quarter, up from US$51.9m a year ago. The company said local demand for cement and clinker grew in the July-September period. Saudi Arabia is witnessing big developments driven by the government's strategy diversify its e...