Cement News tagged under: corporate
China Resources Cement 1H net down 69%13 August 2012, Published under Cement NewsChina Resources Cement said its profit attributable to owners dropped 68.9 per cent YoY to HK$635m (US$81.9m) for the six months ended 30 June 2012. Turnover was up 9.8 per cent from a year earlier to HK$11.03bn. Consolidated gross margin was 20.8 per cent, representing a decrease of 12.3 percentage points from 33.1 per cent for the corresponding period last year. |
Middle East market developments13 August 2012, Published under Cement NewsCement producers in the Gulf Cooperation Council (GCC) nations witnessed a 24.3 per cent increase in revenues in the first quarter of 2012, reaching US$1.26bn (AED4.62bn) as construction picked up in certain parts of the Middle East. Saudi Arabia continues to be the region's strongest market, but improvements are being seen in the UAE and Qatar is gathering pace. However, a challenging operating environment persists in Egypt. According to a report by Global Investment House (GIH), combine... |
JK Cement reports YoY gains, India10 August 2012, Published under Cement NewsJK Cement reported a healthy growth in earnings on the back of both higher volumes and realisations in the first quarter of the current fiscal. In the June 2012 quarter, the company reported 38 per cent YoY growth in net profits, the Economic Times of India reports. Revenues grew by 21 per cent YoY to INR736 crore mainly due to 15 per cent growth in dispatches and a five per cent increase in realisation per ton. However, on a sequential basis, dispatches were 11 per cent lower compared to... |
YenBai Cement posts second quarter loss, Vietnam10 August 2012, Published under Cement NewsYenBai Cement and Minerals said it incurred a loss of VND5.69bn (US$271,000) in the second quarter of this year, marking its fifth consecutive quarter of losses Revenues declined five per cent on year to VND82bn during the period, the company said in a quarterly financial statement. Higher prime cost to revenue ratio was mainly blamed for the company’s loss, despite an earning of VND3.46bn from other incomes. In the Jan-June period the cement producer made a loss of VND11.47bn on revenues ... |
Moody's: no immediate concerns for West China Cement from short seller's report10 August 2012, Published under Cement NewsMoody's sees no immediate concerns for West China Cement from short seller's report. There is no pressure on its Ba3 corporate family and senior unsecured debt ratings. At the same time, the rating outlook remains negative, reflecting the consideration that its credit metrics, especially interest coverage, are under pressure from its fast expansion and weak cement prices. (Source: Reuters) |
Vinaconex sells 8M shares of cement producer10 August 2012, Published under Cement NewsVietnam Construction and Import-Export JS Corporation or Vinaconex (VCG) sold eight million shares of Yen Binh Cement JSC on July 26. The decision was made because VCG is restructuring its holdings in Yen Binh firm, local financial website Cafef reported. As a result, VCG cut its holding in the cement producer to 26 per cent equal to 6.66 million shares from earlier 57.25 per cent. (Source: Vietnam News Brief Service) |
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... |