Cement News tagged under: corporate
Madras Cement reports fall in net profit, India25 May 2010, Published under Cement NewsMadras Cements reported a higher operating profit before interest, depreciation and tax at INR877.41 crore during the year ending March 31, 2010 against Rs 793.50 crore in the previous year. However, net profit marginally dropped to INR353.68 crore (INR363.52 crore) due to higher interest cost, depreciation charges and tax liability. Last year, net sales improved to INR2800.89 crore (INR2456.18 crore). The board has proposed a final dividend of fifty paise per share in addition to the inte... |
Tangshan Jidong to buy stake in Shaanxi QinLing Cement25 May 2010, Published under Cement NewsTangshan Jidong Cement Co Ltd today announced that it has received approval from the state-owned Assets Supervision and Administration Commission to purchase 62.66 million shares from Shaanxi QinLing Cement (Group) Co for CNY334m (US$48.9m). The Shenzhen-listed purchaser, which had 60 million shares or a 9.08% stake in the target firm as of May 24, will become the largest shareholder of QinLing Cement with 122.66 million shares or an 18.56% stake to have a leading position in the cement... |
China Shuangji Cement, Ltd announces 1Q10 results24 May 2010, Published under Cement NewsChina Shuangji Cement, Ltd, a leading producer of high-quality Portland cement in Shandong and Hainan Provinces in the People’s Republic of China , has announced its financial results for the first quarter ended March 31, 2010. First Quarter 2010 Highlights Total revenue increased 4.1 per cent to approximately US$12m from approximately US$11.5m a year ago. • Gross profit increased 13 per cent to approximately US$1.8m from approximately US$1.6m a year ago. • Gross margin increased to 15.5 p... |
West China Cement appoints COO21 May 2010, Published under Cement NewsWest China Cement has appointed Tian Zhenjun as an executive director and chief operating officer with immediate effect. Tian has been an employee of West China Cement since 1998 having held various positions including finance director. Most recently he acted as general manager of the company’s Lantian business. The board also appointed Sin Lik Man as the new company secretary in replacement of Tian. |
Grasim in 10Mt brownfield expansion21 May 2010, Published under Cement NewsGrasim Industries, the flagship cement company of Aditya Birla Group, aims to add 10Mta capacity. Though the company declined to give details, sources close to the development said the capacities would be added in Chhattisgarh, Tamil Nadu and Andhra Pradesh. "The company will put three kilns of 10,000tpd each and the orders are estimated to be placed by June. The tenders have already been floated for the same," a source said. Work is to start in the last quarter of this fiscal. Adesh Gup... |
Grasim Industries - Quarter ended March 201021 May 2010, Published under Cement NewsThe consolidated cement production increased 10 per cent to 10.24Mt during the quarter while the sales volumes increased nine per cent to 10.36Mt. The overall consolidated top-line rose 11 per cent to INR5474.98 crore. Excellent performance by the Viscose Staple Fibre (VSF) business and improved volume growth by the cement business enabled Grasim, an Aditya Birla Group company, to post excellent performance during the quarter ended March 2010. The VSF production volume rose 35 per cent to ... |
West China Cement delays Hong Kong listing21 May 2010, Published under Cement NewsWest China Cement has postponed its move to the Hong Kong Stock Exchange because of the current stockmarket turmoil. The move to a HKEx listing and cancellation of the AIM quotation were supposed to happen before the end of June. A date of 18 June had been indicated in April. West China currently expects the move to happen some time in the second half of 2010. The exact timing of the move will depend on market conditions. The West China share price has fallen by more than one-third... |
JK Lakshmi Cement declines on dismal Q4 results19 May 2010, Published under Cement NewsJK Lakshmi Cement declined 1.29 per cent to INR65 at 9:48 IST on BSE, after net profit fell 32.63 per cent to INR70.12 crore in fourth quarter ended March 2010 against same quarter last year. On BSE, 41,603 shares were traded in the counter as against an average daily volume of 80,706 shares in the past one quarter. The stock hit a high of INR66.25 and a low of INR63.25 so far during the day. The stock had hit a 52-week high of INR84.85 on 19 January 2010 and a 52-week low of INR40... |
Egypt’s Sinai Cement posts Q1 net profit of US$27.7m19 May 2010, Published under Cement NewsEgypt’s Sinai Cement posted consolidated net profit of EGP156m (US$27.7m) in the first quarter of 2010, the stock exchange said on Tuesday. The statement did not provide a comparative consolidated profit figure for last year but said non-consolidated net profit for the first quarter of 2010 was EGP155.3m, down from EGP158m the same period last year. Shares in Sinai Cement, the local unit of France’s Vicat , closed 0.5 per cent higher at EGP49.5 . The benchmark index closed 1.8 per ... |
Australia: Adelaide Brighton warns of challenges19 May 2010, Published under Cement NewsBuilding materials company Adelaide Brighton Ltd warns it faces challenges including foreign exchange issues, cost pressures and competition from imports. While the company’s well positioned for growth, it faces a number of challenges during the next 12 months, managing director Mark Chellew told the company’s annual general meeting on Wednesday. He says foreign exchange changes are an issue, with contract renewal negotiations due next year with major cement and lime customers. Mr ... |