Cement News tagged: Corporate
Fitch Ratings says outlook for Indian construction stable
Fitch Ratings says that the outlook for the Indian construction sector remains stable for 2H12, despite the continued unfavourable macroeconomic environment, as some of the risks have already been factored into the ratings. However, the medium-term outlook could be affected by ongoing challenges in execution, coupled with high interest rates and lacklustre equity markets. Fitch is concerned a...
Raysut books first half net profit, Oman
Raysut Cement, Oman's largest cement company by market value, said in a bourse filing yesterday it booked a profit of OMR10.5m (US$27.3m) in the first half of 2012, up 38 per cent YoY. The strong performance was a result of a 13 per cent rise in sales, to OMR33.9m.
Kuwait Portland Cement net profit surges
Cement trader Kuwait Portland Cement said in a bourse statement yesterday its net profit surged to KWD4.74m (US$16.8m) in the first half of 2012 from KWD1.11m a year ago. The earnings per share (EPS) rose to 52.2 fils from 12.2 fils. For the second quarter of 2012, the company booked a net profit of KWD2.48m, an increase from KWD1.78m in the same period last year. Total assets stood at KWD6...
Buzzi Unicem improves profit at lower volumes
Buzzi Unicem’s first half turnover edged ahead by 0.9 per cent to €1,350.9m, but the EBITDA recovered by 7.7 per cent to €197.2m. For the full year Buzzi Unicem is maintaining its overall forecast of broadly unchanged numbers overall, but the expected geographical mix has changed. The first half trading profit increased by 34.4 per cent to €84.0m and the interest charge jumped by 35.3 per c...
CMS plans to invest in third Sarawak cement plant, Malaysia
CMS Bhd (CMSB) plans to invest in a third cement plant to meet the growing demand in Sarawak. Group managing director Datuk Richard Curtis said the new facility, which would have a production capacity of 600,000 to 700,000tpa, would be built in Mambong near here where the group's clinker plant is located. “The proposed third plant will cost about MYR150m. We (CMSB) will make a decision (on t...
Siam City Cement 2Q net profit falls, Thailand
Siam City Cement Plc (SCCC), Thailand's second-largest cement producer, reported a 30.5 per cent drop in 2Q net profit although sales increased by more than 12 per cent as operating margins were hurt by lower cement prices and higher energy costs. In a filing to the Stock Exchange of Thailand on 2 August, SCCC said its net profit totalled THB809m in the quarter to June compared to THB1.056bn...
CRH closing in on Jaiprakash cement stake - report
CRH is reported close to picking up 51 per cent stake in Jaiprakash Associates' cement operations in Gujarat at an enterprise value of about INR4200 crore, the Economic Times of India has cited two persons familiar with the development as saying. The enterprise value of Jaypee Cement Corp, which has two cement plants in Sewagram and Wanakbori-each having a capacity of 2.4Mt, includes debt o...
European cement majors: first half trends
The last week has seen three leading European cement majors release first-half 2012 results: Lafarge, HeidelbergCement and Italcementi. The latest figures appear to confirm the upturn in North America, which, together with the emerging markets, have been the main drivers of demand as parts of Europe remain a drag on performance. While a slower volume growth environment persists, improved prici...
Semen Gresik plans name change to raise its profile, Indonesia
State Enterprises Minister Dahlan Iskan said Indonesian state-owned Semen Gresik is set to change its name to Semen Indonesia in a bid to raise the company’s international profile. The change is subject to approval by shareholders expected October or November this year, the minister said on Tuesday. Once the change becomes official, Dwi Doetjipto, president director of Semen Gresik, will be...
Dangote Cement pretax profit rises, Nigeria
Nigeria’s leading producer Dangote Cement said on Thursday its pretax profit for the first half grew by 23 per cent YoY to NGN71.3bn (US$443m), from NGN58.1bn last year. Turnover at the cement maker climbed to NGN142bn during the period, compared with NGN112.7bn a year ago, it said in a filing with the Nigerian Stock Exchange.
Eagle improves in both cement & plasterboard, USA
In the first quarter of its financial year to 31 March 2012, Eagle Materials’ turnover, including its share of the Texas Lehigh cement joint venture, rose by 25.9 per cent to US$177.7m. The pre-tax profit rose 19-fold from US$1m to US$19.9m, after charging net interest costs that were 17.8 per cent lower at US$3.8m. Net attributable profit jumped from US$0.8m to US$14m and the net debt was 12...
Bamburi first-half pretax profit falls, Kenya
Kenya’s leading cement producer Bambur Cement posted a 12.86 per cent fall in pretax profit for the first half of this year to KES3.7bn (US$43.89m), hurt by financing costs that exceeded revenue growth, the company said on Friday. The company, which is part of the Lafarge group, said turnover increased 17 per cent to KES19.2bn. "The regional cement market will continue to be vibrant. Fo...
Madras Cement net profit rises 25%, India
Madras Cements Ltd said on Thursday it earned a net profit of INR123.01 crore for the quarter ended June 2012 as against INR98.30 crore it earned in the corresponding quarter last year, an increase of 25%. “The increase in profit during the quarter was due to higher sales and better realisation for the cement sold," the company said. Net turnover including other income rose to Rs 997.04 cror...
Taiheiyo quarterly profit seen rising on higher demand
Japan’s leading cement producer Taiheiyo Cement is expected to report consolidated operating profit of about JPY1bn for the three months ended 30 June 2012, according to a Nikkei report. This would be the company’s first April-June operating profit in five years. Last year the company posted an operating loss of JPY1.2bn in the same perios of last year. Taiheiyo Cement shuts down its kilns ...
Italcementi’s profits fall in spite of recoveries in North America and India
Italcementi’s first half turnover came off by 4.9 per cent to €2299.8m while the running EBITDA declined by 11.6 per cent to €328.7m. The trading profit fell by 37.4 per cent to €100.6m, and after an 84.2 per cent increase in the net interest charge to €47.3m and a 39.8 per cent reduction in income from associates, the pre-tax dropped by 59.8 per cent to €55.4m. With a 13.6 per cent increa...
Torah strike action to cause EGP22m in losses
Egypt-based producer Torah Cement announced that the latest strikes caused shortage in clinker production by around 82,000t and cement by 97,000t which will be reflected in profits margins by about EGP22m (US$3.6m). (Source: News Bites Pty Ltd)