Cement News tagged under: Results
Gansu Qilianshan hit by declining prices, China10 August 2012, Published under Cement NewsGansu Qilianshan Cement Group Co said that its net profit attributable to shareholders plunged 89 per cent YoY to CNY26.49m (US$4.2m) in the first half of this year due to a sharp fall in selling prices Basic earnings per share for the period were CNY0.06, less than CNY.52 it booked in the corresponding period of last year. According to a statement filed with Shanghai Stock Exchange, the company saw its operation revenue reached CNY1.86bn for the period, reflecting a YoY increase of 10... |
TCL doubles losses, Trinidad09 August 2012, Published under Cement NewsTrinidad Cement Ltd (TCL) has doubled its posted a post-tax loss for the first six months of 2012 compared to the same period of last year. TCL’s loss in the period from January 1 to June 30 amounted to TTD169m, compared with the TTD78.2m loss the company reported for the first six months of 2011. For the first six months of 2012, TCL’s group revenue totalled TTD789m, which was 3.7 per cent more than the revenues reported in 2011, mainly “due to higher pricing as domestic and export... |
West China Cement denies fraud claim09 August 2012, Published under Cement NewsShares in mainland cement maker West China Cement were suspended from trading at the company's request yesterday, following the release of an analyst's report alleging the company was guilty of "blatant fraud". The request followed the overnight release of a report by US firm Glaucus Research Group that investigates Chinese listed companies, accusing West China Cement of "fabricating" its financial statements. "We believe that West China Cement is a blatant fraud. We believe West China... |
GCC first-quarter revenues rise08 August 2012, Published under Cement NewsGCC cement companies witnessed a 24.3 per cent increase in revenues in the first quarter, reaching US$1.26bn (AED4.62bn) as construction picked up in certain parts of the region, according to a recent report. The industry's profits rose to US$435.6m, compared to US$359.54m in the first quarter of last year, a growth of 21.2 per cent. However, according to Global Investment House's report, net margins suffered a fall of 90.4 basis points during the period. Gross margins witnessed a 233.6 b... |
Vicat first-half 2012 turnover eases08 August 2012, Published under Cement NewsFrance-based Vicat's first half performance improved strongly in Asia but results have mainly deteriorated elsewhere. Turnover for the six months to June 2012 eased by 1.5 per cent to €1128.8m, which represents a 2.4 per cent reduction on a comparative basis. EBITDA declined by 20.8 per cent to €200.6m as the margin narrowed from 22.1 per cent to 17.8 per cent. The trading profit fell by 36.6 per cent to €104.5m. After a net interest charge 1.4 per cent higher at €19m, the pre-tax profit ca... |
Union Cement Company reverses loss, UAE08 August 2012, Published under Cement NewsUnion Cement Company, reported a rise in its net profit for the first six months of 2012 of US$5.6m, reversing the US$2.4m loss reported in 2011. The advance is attributed to higher selling prices of cement and clinker this year which more than compensated for a decline in sales to US$88.3m. The company said that margins had improved as a result of management attempts to reduce overheads both through trimming procurement costs and optimising production capacity. Cost of sales fell t... |
Caribbean Cement outlook cautious08 August 2012, Published under Cement NewsCaribbean Cement has cut losses by some 40 per cent to J$578.1m (US$6.5m) for the second quarter of the year and has outlined plans of a new supply contract but remains cautious on its outlook. "The directors consider that the outlook will remain challenging, despite some recent positive indicators of growth in the domestic market for cement and plans for expansion into more lucrative export markets," said Brian Young, chairman, and Dr Rollin Bertrand, group chief executive officer in a j... |
Raysut books first half net profit, Oman07 August 2012, Published under Cement NewsRaysut Cement, Oman's largest cement company by market value, said in a bourse filing yesterday it booked a profit of OMR10.5m (US$27.3m) in the first half of 2012, up 38 per cent YoY. The strong performance was a result of a 13 per cent rise in sales, to OMR33.9m. |
Kuwait Portland Cement net profit surges07 August 2012, Published under Cement NewsCement trader Kuwait Portland Cement said in a bourse statement yesterday its net profit surged to KWD4.74m (US$16.8m) in the first half of 2012 from KWD1.11m a year ago. The earnings per share (EPS) rose to 52.2 fils from 12.2 fils. For the second quarter of 2012, the company booked a net profit of KWD2.48m, an increase from KWD1.78m in the same period last year. Total assets stood at KWD69.8m at end-June 2012, down from KWD73.3m a year earlier. |
Buzzi Unicem improves profit at lower volumes06 August 2012, Published under Cement NewsBuzzi Unicem’s first half turnover edged ahead by 0.9 per cent to €1,350.9m, but the EBITDA recovered by 7.7 per cent to €197.2m. For the full year Buzzi Unicem is maintaining its overall forecast of broadly unchanged numbers overall, but the expected geographical mix has changed. The first half trading profit increased by 34.4 per cent to €84.0m and the interest charge jumped by 35.3 per cent to €62.2m, giving a pre-tax profit still 36.3 per cent higher at €22m. After a tax charge 8.3 pe... |