Cement News tagged under: Results
UltraTech first quarter hit by building slowdown30 July 2013, Published under Cement NewsUltraTech Cement, India's largest cement producer, posted a 13.5 per cent YoY decline in its first quarter (April-June 2013), due to slowdown in home building and infrastructure projects. The Aditya Birla group company reported standalone profit of INR6.73bn (US$112.3m) for the April-June quarter. Net sales also declined 2.2 per cent to INR49.58bn. Going forward, Kumar Mangalam Birla, chairman of the group, said the business outlook remained challenging and the company has downwardly re... |
Madras Cement quarterly net profit down 44%30 July 2013, Published under Cement NewsMadras Cement’s net profit for the first quarter of 2013-14 dropped by 44 per cent compared to the corresponding quarter of last year. Net profit for the quarter ended 30 June 2013, stood at INR68.85 crore on a total income of INR 987.18 crore. Expenditure rose by 11 per cent to INR839.70 crore. The company has deposited INR25.86 crore, which is 10 per cent of the penalty levied by the Competition Commission of India for alleged cartelisation, pending final judgment, the release s... |
Lafarge trims market growth outlook, debt reduction goal on track26 July 2013, Published under Cement NewsLafarge reported a marked rise in 2Q net profit although consolidated sales declined. The company has now trimmed its forecast for cement market growth this year but confirmed its goal to reduce debt to below EUR10bn this year. EBITDA fell eight per cent to EUR922m and current operating income declined 11 per cent to EUR667m. Net profit in the second quarter came in at EUR201m compared to EUR39m in the same period last year when earnings were hit by exceptional items. Consolidated sal... |
Cemex expects best volume growth from USA26 July 2013, Published under Cement NewsCemex reported a slight decline in turnover for the first half of 2013, with EBITDA also down marginally but the trading profit improved by double digits. While volumes were down in the first six months, the group sees full year sales edging ahead with the USA expected to show the best advance. Cemex' first half turnover eased by 0.7 per cent to US$7322.1m and EBITDA came off by 1.7 per cent to US$1251.2m, but the trading profit improved 13.8 per cent to US$690.2m. Net interest payment... |
Cementos Portland Valderrivas reduces 1H losses, Spain26 July 2013, Published under Cement NewsSpain-based Cementos Portland Valderrivas (CPV) reduced losses by 98.9 per cent in 1H13, to EUR0.6m, compared with losses of EUR48.6m in the first half of the year before. CPV's asset swap with CRH earlier this year also provided capital gains of EUR104.8m. According to José Luis Sáenz de Miera, Chairman and CEO of Cementos Portland Valderrivas, results for the first half reflect "efforts last year to reduce costs in Spain, where demand continues to shrink, and to improve efficiency in ope... |
Hai Van Cement to issue shares to finance acquisition, Vietnam26 July 2013, Published under Cement NewsHai Van Cement JSC is to issue 21.46m shares in a move acquire Ang Son II Co the from Thang Loi Group Co. The volume will be sold to existing shareholders at VND10,000/shares at a 116-at-100 ratio, company said in a statement sent to the bourse. The proceeds, estimated at VND214.6bn (US$10.12m). Net profit jumps Hai Van Cement recently reported that it posted a net profit of VND10bn in the second quarter of 2013, up 279 per cent from a year ago. Revenues reached VND223.5bn in the th... |
ARM Cement to spin off non-cement business24 July 2013, Published under Cement NewsKenya-based ARM Cement plans to spin off and list non-cement business on the Nairobi bourse within three years. “We are very hopeful that in two to three years, we will have listed the new non-cement business and market it as an independent brand in the region,” managing director, said Pradeep Paunrana, adding that the company is laying grounds for the separation. “The businesses are intricately related and dependent, therefore, it would not be in the benefit of the company to have inde... |
Thai Binh Cement swings second quarter to net loss, Vietnam23 July 2013, Published under Cement NewsThai Binh Cement JSC swung to a net loss of VND1.5bn (US$70,740) in the second quarter of 2013 from a net profit of VND246m a year ago. The company generated revenue of VND16.5bn in 2Q13 compared to VND18.8bn over the same quarter of 2012. For the first six months to the end of June 2013, TBX reported VND300m net loss on VND33bn revenue, compared to VND1bn net profit and VND37.3bn a year ago, respectively. |
Shanshui Cement 1H hit by pricing pressures19 July 2013, Published under Cement NewsChina Shanshui Cement said it expects to record a significant YoY decrease in net profit for the six months ended 30 June 2013 of not less than 40 per cent due to to persistently lower prices. Since the start of this year, the Shandong region (one of the company’s core markets) have been affected by excess production capacity and prices have remained from the fourth quarter of 2012. Demand has also slowed in the northeast region due to weather-related issues, and sales prices have fail... |
Paraguay’s INC registers 5M13 loss18 July 2013, Published under Cement NewsState-owned Industria Nacional del Cemento of Paraguay noted a loss of PYG22.413bn (US$5m) in the first five months of 2013, indicating a rise on the previous year. In 2012, the company registered a full-year loss of PYG41.646bn, according to local news service ABC. The 2012 loss is attributed to a combination of high sales and operational costs. Sales costs reached PYG343.676bn against a revenue of PYG392.626bn. The gross margin of nearly PYG49bn is offset by operational costs of PYG81... |