Cement News tagged under: Results
Sanghi Industries swings to full year profit, India30 August 2012, Published under Cement NewsIndia-based cement producer Sanghi Industries Ltd reported a net profit in fiscal year 2011-12 compared to a loss in the previous year as margins and sales improve in the fourth quarter. The company reported a net profit of INR81.87 crore for the fiscal year ended 30 June 2012 compared to a loss of INR29.55 crore in the previous fiscal. Net sales rose 8.3 per cent to INR974.07 crore in FY11-12 compared to INR899.48 crore a year earlier. Commenting on the financial performance of the c... |
Improved outlook for Omani cement companies29 August 2012, Published under Cement NewsOman cement companies are set for brighter times ahead as inflows of cheap cement from the UAE decline and demand picks up both in the UAE and the sultanate, according to a report by Global Investment House (GIH). In its GCC cement sector report released on Tuesday, GIH said that Omani cement firms are set for steady growth in the coming quarters as growth in the construction sector leads to a higher cement demand. “The inflow of cheap cement from UAE, which earlier roughly catered to... |
JP Morgan lowers BBMG Corp target price, China29 August 2012, Published under Cement NewsJP Morgan has lowered its target price for BBMG Corp to HK$5.5 from HK$6.3 and maintained its ‘neutral’ rating. The research house says the weakness in the cement business was offset by BBMG’s robust property development business where revenue and gross profit both saw 42-44 per cent YoY growth. JP Morgan expects the stock to continue trading sideways although it might outperform its cement peers due to its property exposure. (Source: ET News Agency). |
Cherat Cement full-year net profit jumps, Pakistan28 August 2012, Published under Cement NewsPakistan-based producer Cherat Cement posted a rise in net profit to PKR436.8m for the fiscal year ended 30 June 2012 (FY12) from PKR68.851m, according to reports in the Pakistan Observer. Earnings per share rose to PKR4.57 in the period compared to PKR0.72. Turnover rose to PKR5.45bn in FY12 compared to PKR4.24bn in FY11 while the cost of sales increased to PKR4.30bn against PKR3.68bn. Pre-tax profit rose to PKR571.62m compared to PKR55.2m a year earlier. Cherat Cement supplies the North ... |
China Shanshui Cement first-half net profit falls 41 per cent28 August 2012, Published under Cement NewsChina Shanshui Cement has reported a net profit of CNY728m (US$114m) for the first half of 2012, representing a decline of 41 per cent YoY on the back of a slowing demand. In the period its operating revenue slid 5.8 per cent YoY to CNY7.38bn, with basic earnings per share of CNY0.26. Zhang Bin, Vice Chairman and General Manager of Shanshui Cement, said: “In the first half of 2012, affected by a contraction in China’s macro economy and slowdown in fixed asset investment, industry demand sl... |
Adelaide Brighton sees improved outlook, Australia17 August 2012, Published under Cement NewsAustralian building materials producer Adelaide Brighton has lifted its first-half net profit by nearly 10 per cent and indicated a modest rise in annual earnings. Net profit rose in the six months to 30 June to A$67.5m (US$70.5m) from A$61.4m in the previous corresponding period. Revenue rose 8.3 per cent to A$550.3m from A$507.9m. Mark Chellew, managing director, said the company’s annual net profit could rise by as much as 4.4 per cent depending on the timing of cement sales and if ... |
West China Cement net profit drops 65%, China16 August 2012, Published under Cement NewsWest China Cement has reported a 65 per cent drop in first-half profit as selling prices declined and production costs increased. Net income dropped to CNY138.5m (US$23m) from CNY419m a year earlier, the cement producer said in a filing to the Hong Kong Stock Exchange yesterday. Sales were down 7.1 per cent to CNY1.59bn. The Shaanxi cement market will gradually recover this year, with pricing power maintained and possibly improved, the company said in a statement. Earlier this week, ... |
Lucky Cement domestic sales boost full-year profit, Pakistan16 August 2012, Published under Cement NewsLucky Cement reported a 71 per cent rise in full year net profit as domestic sales offset a decline in exports. Net income was PKR6.78bn (US$71.8m) in the 12 months ended 30 June with a PKR3.97bn (US$623.5m) a year earlier, the Karachi-based company said in a filing to the stock exchange. Revenue rose 23 per cent to PKR39.1bn while sales were three per cent higher at 5.97Mt. Domestic sales rose seven per cent while exports were down 4.7 per cent to 2.25Mt, the company said. A total ... |
Egypt’s Misr Beni Suef earnings edge higher, hit by power shortages16 August 2012, Published under Cement NewsMisr Beni Suef Cement announced that net profit for the first half of 2012 reached EGP188m (US$31m) versus net profit of EGP155m in the same period of last year. Meanwhile, the company said it lost EGP60m due to an interruption of electricity supplies causing productivity to decline by 70 per cent and output falling to 8000tpd from the usual 11,000tpd. |
CRH advances strongly in the Ukraine15 August 2012, Published under Cement NewsCRH’s first half turnover improved by 5.2 per cent to €8,588m, but the EBITDA came off by 1.1 per cent to €568m. The better weather conditions in North America were offset by a worse experience in Europe. The trading profit was stable at €184m, while the pre-tax profit improved by 23.2 per cent to €117m, helped by gains on disposal, and the net attributable profit advanced by 36.8 per cent to €104m. Net debt at the end of June was 0.7 per cent lower at €3915m, to give gearing of 37.5 per ce... |