Cement News tagged under: Corporate
Italcementi net profit down Jan-Sept 200408 November 2004, Published under Cement NewsThe Italian cement producer and distributor Italcementi S.p.A. ended the first nine months of 2004 with a consolidated net profit of Euro 222.2m (US$286.4m), down by 3.5 per cent year-on-year, it was reported on November 5, 2004. Italcementi generated a consolidated revenue of Euro3.4bn (US$4.382bln) for January to September 2004, up by 5.9 per cent year-on-year. The company’s net profit for the third quarter of 2004 dropped by 14.3 per cent YoY to Euro 92.7m euro (US$119.5m), while its rev... |
Saudi Eastern Province Cement08 November 2004, Published under Cement NewsSaudi cement producer Eastern Province Cement Company (EPC) posted a net profit of 214.9m Saudi riyals (US$57.3m) for the first nine months of 2004, up 9.1 per cent YoY. EPC’s pre-tax profit for the period included operating profit of 190.1m riyals ($50.7m/39.3m euro), up 1.0 per cent, and other income of 30.2m riyals (US$8.1m). Operating expenses increased 0.7 pct to 21.6 mln riyals (US$5.8m). |
Holcim comfortably ahead after nine months08 November 2004, Published under Cement NewsHolcim increased turnover by 6.6% to Sw.Fr.10,017m (€6,463m) in the first nine months of 2004, an increase of 6.6%. The operating profit at the EBITDA level advanced by 15.3% to Sw.Fr.2,792m (€1,801m). In constant currency, these increases amounted to 8.8% and 13.1% respectively. The trading profit was up by 15.3% at Sw.Fr.1,787m (€1,153m). The cement and clinker volume for the period amounted to 77.3m tonnes, an increase of 9.6%, of which 5.0% represented organic growth and the remainin... |
Cash-flush PPC declares R1-billion in dividends05 November 2004, Published under Cement NewsPretoria Portland Cement (PPC) has celebrated an outstanding trading year to end September by declaring total dividends of more than R1bn. SA’s largest cement and lime producer reports exceptionally strong cash flows and has declared a final dividend of 700 cents (2003: 550 cents) a share. PPC’s capital expenditure is planned to remain low next year. It has therefore also declared a special dividend of 1 400 cents (650 cents) a share. Together, the dividends amount to a cash payout of R1... |
Philippine Republic OKs Cement Co Acquisition04 November 2004, Published under Cement NewsRepublic Cement Corp said its stockholders have approved the acquisition of Continental Operating Corp. Continental is the local cement unit of Republic Cement shareholder, Lafarge. Republic Cement said it will finance the purchase with 10-year convertible loan notes that will have a face value of PHP1.35 billion and carry an interest rate of 8 per cent a year. Lafarge can convert the notes to 1.35 billion common shares in Republic Cement, which - if it chooses to do so - will increase th... |
Associated Cement Companies04 November 2004, Published under Cement NewsThe management of Associated Cement Companies (ACC) held a conference call to discuss their quarterly and half-yearly results. The company mentioned that it owed its good performance in Q2 FY05 to better realizations and control over costs. Going forward, the company expects increase in realizations from November 2004 onwards. ACC management mentioned that the industry sailed through the monsoons without softening of prices, which is a good sign. Prices in east India have not moved up ... |
UAE Umm Al-Qaiwain Cement Industries04 November 2004, Published under Cement NewsThe net profit of UAE cement manufacturer Umm al-Qaiwain Cement Industries Company surged to 6.4 mln Kuwaiti dinars ($21.7m) for the first nine months of 2004 from 1.9 mln dinars ($6.4m) in the year-ago period, it was reported on November 4, 2004. The company’s net profit for the first nine months of 2004 included a profit of 3.3 mln dinars ($11.2m) resulting from the application of the International Accounting Standards (IAS) 39 and 40, which state how proceeds from securities and property ... |
Insurance firm challenges Union Cement purchase04 November 2004, Published under Cement NewsA Philippine insurance company has asked the Securities and Exchange Commission (SEC) to reverse an earlier order exempting the sale of Union Cement Holdings Corp. (UCHC) shares from the mandatory tender offer rule. In a complaint, National Life Insurance Co. (NLIC) said the corporate watchdog should hold that Cemco Holdings, Inc. should have first bought its 45 million shares in Union Cement Corp. (UCC) before it purchased the stakes in Union Cement Holdings of Bacnotan Consolidated Industr... |
Lafarge NAmerica reports lower Q303 November 2004, Published under Cement NewsLafarge North America late Tuesday reported third-quarter earnings of $165.6m, or $2.16 a share, compared with $225.3m, or $3.07 a share, last year. The construction materials supplier reported sales from continuing operations of $1.23bn, up from $1.16bn last year. Lafarge also said the board has approved of spending up to $60m for stock repurchases when its current buyback plan expires on Dec. 31. |
St Lawrence Cement Group Third Quarter Results03 November 2004, Published under Cement NewsSt Lawrence Cement Group reported sales of $428.6m for the third quarter ended September 30, 2004, compared to $401.3m for the same period last year, an increase of 7 per cent. Net earnings were up 11 per cent to $39.2m ($0.94 per basic share), compared to $35.3m ($0.85 per basic share) for the third quarter of 2003. The improved performance resulted from firm pricing for cement, higher sales volumes of aggregates and increased construction services revenues. Cement price increases announ... |