Cement News tagged under: Corporate
Guj Ambuja net surges on higher prices24 July 2006, Published under Cement NewsMore good news for the Indian cement sector as Gujarat Ambuja posted a more-than-double growth in its profitability for the quarter ended June 30. Riding on the back of higher prices, India’s fourth-largest cement company’s net profit surged 109.3 per cent to Rs 303.9 crore, while revenue grew 57 per cent to Rs 1134.2 crore. Gujarat Ambuja’s operating profit also grew sharply to Rs 451.9 crore, as compared with Rs 230.9 crore last year. Better financial management reduced its interest c... |
Gujarat Ambuja cements update21 July 2006, Published under Cement NewsGujarat Ambuja Cements Ltd., has announced the following business outlook to the Mumbai stock exchange: The economy grew by 8.4 per cent during the FY-2005-06 backed by strong growth in the construction and manufacturing sector. This strong economic growth has continued in the first quarter of the FY-2006-07 and has resulted in a cement growth of 9.5 per cent. The company are witnessing robust construction growth and with the infrastructure development set to gain momentum, it is expected ... |
Buzzi Unicem raises cash21 July 2006, Published under Cement NewsBuzzi Unicem raises Euro 17.3m by selling one million treasury shares shares to parent company Fimedi SpA. The shares, which were sold yesterday, had a book value of Euro 8.7m. |
Italian-Thai warns of poor Q321 July 2006, Published under Cement NewsItalian-Thai Development, one of the country’s biggest construction company, said yesterday that it expected a second-quarter net profit similar to the previous quarter’s 197 million baht. But it expected third-quarter performance to be "not good", due to the impact of rising oil prices, according to president Premchai Karnasuta. "The impact will be seen in our third-quarter performance, which should not be good," he said, without giving specific forecasts. Mr Premchai said the company migh... |
Titan Cement H1 pretax21 July 2006, Published under Cement NewsCredit Suisse First Boston expects Greece’s Titan Cement to announce pretax profits of Euro 141m for the first half on sales of Euro 722m. Operating profits are seen at Euro 155m, the broker said. Titan Cement recently commented that the trading environment for cement inGreece has remained robust, and CSFB thinks the contribution from the US will also be good, despite concerns over the slowing residential market, as the commercial and infrastructure markets continue to strengthen. CSFB sai... |
Holcim launches A$260m August 2009 issue20 July 2006, Published under Cement NewsHolcim Finance (Australia) Pty Ltd has launched a A$260m August 2009 issue. The notes are expected to price at between 35 and 38 basis points over the three year mid-swap/bank bill swap reference rate (BBSW). Both fixed and floating rate tranches will be offered. ABN AMRO, National Australia Bank and Deutsche Bank are lead managers. |
Peru’s Cementos Lima 2Q Net rises20 July 2006, Published under Cement NewsCementos Lima SA posted second-quarter net income of 27.9 million soles (US$8.6m) compared with PEN20.8 million in the same quarter in the previous year, the company said Wednesday. Total revenues rose to PEN182.6 million in the second quarter compared with PEN156.5 million in the same period a year earlier. |
EBRD still in discussions with Garadagh20 July 2006, Published under Cement NewsThe EBRD suspended the acquisition of a stake in the equity of Garadagh Cement and the head of the EBRD local office in Azerbaijan Raymond Conway informed Azer-Press that the activity related to investment in Garadagh Cement to keep it going and expanding would be taken up again after the dispute between Garadagh Cement and the Azeri Government was over. The EBRD is disposed to co-operate with Garadagh Cement and has declared its share-taking plans therefore. It was planned to look into ... |
Government Orders Semen Gresik to Postpone EGM19 July 2006, Published under Cement NewsThe government has ordered PT Semen Gresik Tbk (SG) to postpone the extraordinary general meeting of shareholders (EGM) from the initial schedule of July 28 to wait for the conclusion of 24.9% shares transaction. In the meantime the government has rejected the proposal of Rajawali Group that the decision making process should be based on the full vote of two commissioners representing the government and one commissioner of Rajawali Group. An executive involving in the transaction sa... |
Rinker Q1 profit up 14 per cent, Australia18 July 2006, Published under Cement NewsAustralian building materials maker Rinker Group Ltd. said its quarterly profit rose 14 percent after it raised prices, but its shares fell nearly 4 percent after it forecast lower earnings than analysts had expected. "The market was probably optimistic that there would be some scope to improve guidance," said Frank Villante, Chief Investment Officer at Souls Funds Management. "People will say it was as good as it gets. They have had really good times for quite a few years," he said. Rink... |