Cement News tagged under: Corporate
Readymix H1 profit slips 23%10 August 2005, Published under Cement NewsIrish cement-maker Readymix PLC said that its underlying profit has slipped 23% in the first half of the year, and warned that its cost reduction program is proceeding slower than it had expected. Trading profits excluding property disposals were at EUR7.6m, down 23%, while group turnover increased by 2.9%. Readymix said that despite the higher volumes, in the Republic of Ireland trading profits were broadly flat, reflecting the continuing impact of the competitive pricing environment... |
No takers for TPI Polene share auction, Thailand10 August 2005, Published under Cement NewsNo bids have been placed for 249 million shares in TPI Polene held by Thai Petrochemical Industry (TPI), a report in Krungthep Turakij said. According to its refinancing plan, TPI has to sell 249M TPI Polene shares in order to raise money to pay off its debts. The refinancing plan management team planned to hold an e-auction to sell the shares on 9 August but no one registered to place a bid. Earlier, six groups bought the terms of reference. Several large cement companies were reportedly... |
Dyckerhoff seen German cement demand drop by 6% to 8% this year09 August 2005, Published under Cement NewsBuzzi Unicem’s subsidiary Dyckerhoff has reported a 6.9% increase in turnover to EUR 588m for the first half of 2005, with the EBITDA improving by 17.8% to EUR 119m. Cement shipments in the period were 2.3% higher at 7.5Mt, while ready-mixed concrete deliveries advanced by 4.3% to 2.5Mm³. Capital expenditure, principally in eastern Europe and in the United States, rose by some 37% to EUR 37m. German turnover declined by 1.7% to EUR 225m as higher prices were more than offset by lower volum... |
Saudi Yanbu Cement Co H1 2005 Net Profit At US$57.4m09 August 2005, Published under Cement NewsSaudi cement producer Yanbu Cement Company (YCC) posted a net profit of SAR215.3m (US$57.4m) for the first half of 2005, up from SAR214.3m (US$57.1m) in the same period of 2004. YCC’s gross profit stood at SAR227.1m (US$60.6m), up 0.8% YoY, while operating expenses increased 7.9% to SAR8.2m (US$2.2m). The company’s total assets stood at SAR2.009bn (US$536m), up 4.7%, and shareholders’ equity increased 0.4% to SAR1.809bn (US$482m). |
Ras Al-Khaimah White profit gains08 August 2005, Published under Cement NewsThe net profit of UAE Ras al-Khaimah Co for White Cement & Construction Materials rose to 41.59 mln UAE dirhams (US$11.3m) in the first half of 2005 from 12.3 mln dirhams (US$3.3m) in the year-earlier period, the Kuwait Stock Exchange (KSE) reported on August 3, 2005. Earnings per share (EPS) jumped to 0.089 dirhams (US$0.024) in the first six months of 2005, from 0.0263 dirhams (US$0.007) in the corresponding period of 2004. The company reported a net profit of 14.4 mln dirhams (US$3.9m) f... |
St Lawrence cement group 2Q sales C$360.4m05 August 2005, Published under Cement NewsSt Lawrence Cement Group Inc’s sales rose 10.3% in the second quarter but the company wasn’t profitable due to the recording of a big writedown related to the abandoned Greenport, NY replacement cement plant project. As reported, the project wasn’t approved by New York state authorities. In a news release, St Lawrence Cement said sales were C$360.4m, up from C$326.8m, a year ago. The increase reflects strong activity in the company’s construction business, growth in aggregates sales v... |
HeidelbergCement Q2 net profit seen rising05 August 2005, Published under Cement NewsHeidelbergCement , subject of a takeover offer, is expected to report strong profit growth in the second quarter, driven partly by higher cement demand and prices in key North American and Indonesian markets. A Reuters poll of seven analysts forecast on average a net profit of EUR203m ($250m), up from EUR155m a year ago. Estimates for the world’s fourth-largest cement maker ranged from EUR175m to EUR225m. Operating profit is seen up 16 percent on average at EUR316m, with estimates ... |
US Fidelity International cuts stake in Buzzi Unicem, Italy05 August 2005, Published under Cement NewsUS private equity and investment management company Fidelity Investments’ subsidiary Fidelity International Ltd, has reduced its stake in Italian cement maker Buzzi Unicem. Its stake has been reduced to 4.998 pct, Italian stock market regulator Consob said in its regular bulletin on stake changes. Previously, Fidelity International held a stake of 5.042% in the cement maker, Consob added. |
Florida Rock Industries, Inc elects new board member05 August 2005, Published under Cement NewsFlorida Rock Industries, Inc announced that Robert P. Crozer has been elected to its Board of Directors. Mr Crozer has served as Senior Advisor to Greenhill & Co, Inc, an investment banking firm, since September 2004. From March 2001 to September 2004, Mr Crozer served as Chairman of Wahyam Capital LLC, a private investment firm. From 1989 to March 2001, he served as Vice Chairman of Flowers Foods, Inc. and its predecessor, Flowers Industries, Inc. Mr Crozer also served as a director of Keebl... |
Kuwait Cement Co doubles net profit04 August 2005, Published under Cement NewsThe net profit of the Kuwait Cement Company doubled to KWD14.21m (US$48.7m) in the first half of 2005 from KWD7.12m (US$24.4m) in the same period of 2004, the Kuwait Stock Exchange (KSE) reported. Earnings per share (EPS) rose to 36.08 fils (US$0.124) in the first six months of 2005 from 8.07 fils (US$0.028) in the year-ago period. Kuwait Cement’s net profit for the second quarter of 2005 increased to KWD5.0m (US$17.1m) from KWD2.06m (US$7.1m) in the same period of 2004. |