Cement News tagged under: Corporate
Ciments Francais higher as Exane raises target26 January 2006, Published under Cement NewsShares in Ciments Francais rose as Exane BNP Paribas increased its target price on the cement company to Euro 125 and reiterated an ’Outperform’ rating, dealers said. The new target reflects a three per cent upward revision of the broker’s earnings estimates and still includes a 25 per cent discount to the group’s value on a DCF (discount cash flow) basis, Nicolas Godet and Arnaud Pinatel of Exane said in a note to clients. ’Ciments Français is well positioned for 2006, with good trends exp... |
Exane ups Lafarge to "outperform"26 January 2006, Published under Cement NewsExane BNP Paribas on Thursday raised its rating for Lafarge , the world’s biggest cement maker, to "outperform" from "neutral", citing savings from an expected restructuring among other factors. Exane BNP Paribas also lifted its price target for the stock to Euro 97 from Euro 82. |
Credit Suisse cuts Semapa voting rights26 January 2006, Published under Cement NewsCredit Suisse International reduced its holding in cement and paper maker Semapa SGPS to 23,095,800 shares, equal to 19.52 per cent of capital and 19.98 per cent of voting rights, through the sale of 164,000 shares on Jan 3, Semapa said in a statement to CMVM, the Lisbon bourse regulator. CSI previously held 23,259,800 shares, amounting to 19.66 per cent of capital and 20.12 per cent of votes, the company added. The Swiss company sold the shares through a ’hedging’ operation on behalf of cli... |
UAE National Cement Co profits rise26 January 2006, Published under Cement NewsUAE Dubai-based National Cement Company reported a net profit of 249.8 mln UAE dirhams (US$68m) in 2005, up from 113 mln dirhams ($30.8m) in 2004, it was reported on January 25, 2006. National Cement Co registered a revenue of 450 mln dirhams (US$122.5m), compared to 326 mln dirhams (US$88.8m), while its net operating profit grew to 167.5 mln dirhams (US$45.6m) from 56 mln dirhams (US$15.25m). |
Peru’s Cementos Lima 4Q26 January 2006, Published under Cement NewsRising cement sales helped lift Cementos Lima SA’s fourth-quarter net income to 32.8 million soles (US$9.8m) compared with PEN22.8 million (US$6.8m) in the same quarter in the previous year. Cementos Lima, the largest cement producer in Peru, released the financial results to the Peruvian regulatory agency, Conasev, on Wednesday. Total revenues rose to PEN171.4 million (US$49.6m) in the fourth quarter compared with PEN141.9 million (US$41.1m) in the same period a year earlier. Full-year 200... |
Grasim net falls but cement almost doubles26 January 2006, Published under Cement NewsA downturn in Grasim Industries’ viscose staple fibre and sponge iron businesses has led to the company’s third quarter net profit for the current fiscal falling by 25.4 per cent. However, under segment results, the cement business reported profits (before interest depreciation and tax) of Rs 133.91 crore (Rs 69.5 crore) almost doubling from a year ago. Volume sales were up 11 per cent at 3.53Mt. |
Cemex’s profits increase again seen up on RMC acquisition26 January 2006, Published under Cement NewsThis week a Reuters survey of five analysts forecast, on average, a October-December net profit for Cemex of US$565m, up from US$334m a year earlier, in effect, increasing fourth-quarter net profit about 69 per cent from higher sales after the consolidation of Britain’s ready-mix concrete giant RMC. The survey forecast that Cemex’s revenues will have nearly doubled in the quarter, largely boosted by its US$5.8bn acquisition in March last year of RMC, the world’s largest ready-mix concrete m... |
Siam Cement reports 12 per cent fall26 January 2006, Published under Cement NewsSiam Cement, Thailand’s largest industrial conglomerate, reported a 12 per cent drop in full year net profit Wednesday on the back of increased energy costs and a 35-day scheduled turnaround at its naphtha cracker plant. Weaker performance in SCC’s petrochemicals and paper businesses in 2005 dragged net profit down to Bt32.236 billion (US$827.5m), despite higher sales, which rose 13 per cent to Bt218.265 billion during the period, SCC said in a statement Wednesday. |
Siam Cement sees 2006 revenues rising25 January 2006, Published under Cement NewsThailand’s biggest industrial conglomerate, Siam Cement , said on Wednesday it expected revenues to rise 5 to 10 per cent this year, led by its petrochemical and cement businesses. The firm expected the domestic cement market to grow about 3-6 percent this year, while the spread between raw material costs and the price of petrochemical products would be close to last year’s $550 per tonne, president Kan Trakulhoon, told reporters. Siam Cement noted it will sell up to 20 billion baht (US$508m)... |
Podilsky Cement gets approval for new quarries25 January 2006, Published under Cement NewsUkraine’s antitrust regulator AMCU gave green light to the Podilsky Cement plant to buy stakes of over 50 per cent in the Behivsky and Popilnyansky crushed stone quarries. Podilsky Cement technical director Stanislav Pohilyak said the plant bought the two quarries in the central Zhytomir region to enter new markets rather than to use their output for cement production. The Popilnyansky quarry has an annual capacity of over 500,000t of crushed stone, but it plans to produce only 150,000t i... |