Cement News tagged under: Corporate
Grasim 1Q improvements, India31 July 2006, Published under Cement NewsIndia’s Grasim Industries Ltd said Saturday its fiscal first-quarter consolidated net profit rose 47 per cent as its cement and viscose staple fiber business grew. The company’s net profit in the April-June quarter rose to INR4.35 billion from INR2.96 billion. Cement sales volumes during the quarter grew by five per cent to 3.5Mt. "Realizations surged 36 per cent at INR2731 per ton, leading to a significant improvement in operating margins," a company statement said. Grasim said it pl... |
Dalmia Cement net up four-fold31 July 2006, Published under Cement NewsDalmia Cement (Bharat) Ltd today reported a more than four-fold increase in net profit at Rs 50.28 crore for the April-June quarter this fiscal as compared to Rs 10.72 crore in the year-ago period. Sales for the first quarter grew 53.8 per cent at Rs 232.48 crore over the corresponding quarter in 2005-06, the company said in a release. The cement capacity of the company grew from 1.5Mta to 3.5Mta, after it implemented and commissioned the brown field expansion at its plant in Dalmiapur... |
Polpaico ups profits 18 per cent, Chile31 July 2006, Published under Cement NewsChilean cement producer Cemento Polpaico increased consolidated net profits 18.3 per cent to 9.82bn pesos (US$18.2m) during the first half of this year, compared to the same period last year, the company reported to securities regulator SVS. In terms of sales volume, cement sales were up seven per cent to 737,000t while concrete sales increased 3.8 per cent to 967,000 cu m over the first half of 2005. Polpaico forecasts a four per cent growth in revenue for this year, local paper Estrate... |
Cemex Venezuela profit gains31 July 2006, Published under Cement NewsThe Venezuelan unit of Mexican cement company Cemex (CX) saw profits skyrocket 87 per cent during the first half of the year as demand for cement in the Andean country set new records. Profits for the first six months in Venezuela climbed to 87.9 billion bolivars ($40.9m), 87per cent higher than the same period last year, as the economy continued to benefit for record high oil gains, according to a company statement released Friday. Total sales in Venezuela during the period stood at VEB47... |
Binani Cement to divest stake to Mauritius fund, India31 July 2006, Published under Cement NewsIn a notice to stock exchanges, Binani Industries said that it had decided to divest 10.09 per cent in its subsidiary Binani Cements to Ganesha Prime Holdings (Mauritius), a subsidiary of Credit Suisse Pvt Equity Partners Asia, L.P. Binani Industries is divesting 20,500,000 equity shares of Binani Cement to the Mauritius-based private equity fund at Rs 73 a share. The Binani-Credit Suisse deal follows a number of private equity investment in the cement sector. Analysts said M&A and private... |
Weak 2Q06 earnings of TPI Polene, Thailand28 July 2006, Published under Cement NewsTPI Polene (TPIPL) announced rather disappointing 2Q06 earnings with a normalised profit of Bt244mn (norm EPS Bt0.31), down 52% yoy, but up 52% qoq. This was a rather low base for earnings comparisons. The cement business was affected by the slowdown in cement demand and much higher energy costs, while petrochemical business was hit by a low spread between LDPE - Ethylene. If including extra items, the net profit would have been Bt344mn (EPS Bt0.44), down 70% qoq, but up from last year’s l... |
Cementir continues to show underlying growth28 July 2006, Published under Cement NewsCementir increased first half turnover by 25.3% to EUR 504.2m and the EBITDA rose by 44.4% to EUR 118.6m. Excluding the acquisitions of the Edirne cement plant in Turkey, 4K Beton in Denmark and Vianini Pipe, the underlying sales growth reached 13.9% to EUR 458.3m. In spite of sharply higher interest payments following the acquisition of Aalborg Portland and Unicon, the pre-tax profit still rose by 35.9% to €65.7m, while net debt at the end of the period was 6.2% higher at EUR 428.6m, the n... |
Titan is boosted by US market strength27 July 2006, Published under Cement NewsTitan increased turnover in first six months by 24.8% to EUR 764.7m and the operating profit at the EBITDA level by 36.5% to EUR 220.4m. Sales of cementitious materials grew by 7.5% to 7.75Mt, while ready-mixed concrete volumes rose by 12.3% to 3Mt and aggregates by 7.7% to 10.72Mt. Capital expenditure during the period amounted to €140m. The Greek operations raised turnover by 13.4% to EUR 280.3m and EBITDA by 15.6% to €85.3m. Domestic demand has been good and a 3.5% price increase was... |
Portland Valderrivas profit up 51 per cent, Spain27 July 2006, Published under Cement NewsIn the first half of this year, Spanish cement producer Cementos Portland Valderrivas recorded a net profit of EUR96.19m , up 51.37 per cent on the same period in 2005. At the same time, Cementos Portland Valderrivas’ turnover recorded turnover of 614.4m euros, up 30.15 per cent on a year earlier, due to the acquisition of rival Cementos Lemona. |
UltraTech Q1 net profit triples, India27 July 2006, Published under Cement NewsUltraTech Cement Ltd, an Aditya Birla group company has announced that net profit more than tripled for the first quarter ended June 30 2006 on higher domestic realisation and volumes. Net profit for the quarter amounted to Rs 210 crore as against Rs 60 crore for the corresponding year-ago quarter. Net sales rose 49 per cent to Rs 1,180 crore from Rs 793 crore. The company’s domestic sales volume of cement grew by 10 per cent, while exports were higher by 16 per cent. Overall sales... |