Cement News tagged under: corporate
Hai Van Cement net profit rises 74%27 July 2012, Published under Cement NewsHai Van Cement JSC reported a net profit of VND3.6bn in the second quarter of 2012, up 74 per cent YoY, the firm said in its financial statements posted on the Hochiminh Stock Exchange (STC)’s website. Its total revenue reached VND195.28bn in the period, up four per cent from VND187.02bn a year earlier, the firm reported. Meanwhile, its total costs only rose three pe rcent on year to VND188.9bn, leading to an on year rise of 74 per cent in net profit of the firm. In 1H12, the company earne... |
South Africa's PPC invests in Ethiopian cement firm26 July 2012, Published under Cement NewsSouth Africa's Pretoria Portland Cement and a state investment body South Africa’s Industrial Development Corporation (IDC) have jointly secured a 47 per cent equity stake in the Habesha Cement Share Company (HCSCo) of Ethiopia. PPC’s US$12m cash investment secures 27 per cent in HCSCo and is a significant step in PPC’s African expansion strategy. This is PPC’s first investment into the Ethiopian and east African cement market. The IDC will simultaneously invest US$9m for a 20 per cent stak... |
Sharp construction fall causes deepening UK recession26 July 2012, Published under Cement NewsUK GDP figures from the Office of National Statistics (ONS) show that the UK’s recession deepened further in the second quarter of 2012, led predominantly by further sharp falls in construction activity. The UK economy shrank by 0.7 per cent, marking its third consecutive quarter of contraction and the longest recession the country has faced in 50 years. However, construction fell 5.2 per cent over that same period, indicating that the construction sector was now in a deep depression, d... |
Cementir expects a better second half from Turkey26 July 2012, Published under Cement NewsCementir's first half turnover improved by 2.6% to €462.5m, with improvements in the Nordic area, the Far East and Egypt, being partially offset by weaker numbers in Italy and in Turkey. EBITDA improved by 17.5% to €55.9m and a depreciation and impairment charge just 1.8% higher at €42.8m, the trading profit jumped 136.1% to €13.2m. In spite of a 14.9% increase in the net interest charge to €9.2m and helped by an 83.8% increase in the income from associates to €0.9m, a pre-tax profit of... |
Cementos Lima and Cementos Andino to merge, Peru26 July 2012, Published under Cement NewsPeruvian cement producers Cementos Lima and Cemento Andino are to merge into a single company, the company’s said in a joint statement. Shareholders from both producers on Tuesday approved plans for the merger which will create a new company under the name of Union Andina de Cementos SAA on 1 October, the statement to Peru’s securities regulator said. The companies said the merger will reduce costs while also improving liquidity, profits and financial strength. "The main objective of t... |
Cementos Portland to cut 250 jobs, Spain26 July 2012, Published under Cement NewsSpanish cement producer Cementos Portland Valderrivas is to cut 250 jobs throughout its Spanish operations after the summer and will temporarily halt production of plants in the Catalonia region. Spanish press have reported that an agreement on these measures has been made between management and trade union members. Some 160 jobs will be cut through retirement plans for people aged 58 and above. Another 60 employees will occupy new positions while 30 can opt to move to relocate to othe... |
Sibirsky Cement 2011 net profit almost doubles, Russia26 July 2012, Published under Cement NewsSibirsky Cement’s net profit almost doubled to RUB1.4bn (US$42.9m) in 2011 from around RUB700m in 2010, as calculated in accordance with International Financial Reporting Standards (IFRS), the company said in a statement on Thursday. Revenue increased by 42 per cent on the year to RUB12bn in 2011, while gross profit rose 52% to RUB6.9bn. EBITDA amounted to RUB3.03bn although no comparison was provided. |
Athi River Mining pretax profit rises 24%25 July 2012, Published under Cement NewsKenya’s Athi River Mining posted a 24 per cent rise in first-half pretax profit thanks to increased cement sales. The country’s second-largest cement producer, behind Bamburi Cement, said pretax profit for the six months to June rose to KES790.96 (US$9.4m). The company is positive on its second-half outlook due to anticipated cut in interest rates, a stable shilling and good growth in infrastructure demand. It also expects its new 1.5Mta cement plant in Dar es Salaam, Tanzania to bo... |
Arat Cement net loss, Armenia25 July 2012, Published under Cement NewsArmenian cement producer Arat Cement reported a net loss of AMD1.079bn (US$2.6m) compared to net profit of AMD521m in 2010. According to local press reports, the company is idling operations due to economic reasons. The construction sector has not yet recovered from the 2009 economic crisis and is still suffering declines. Last year, cement production fell 13.4 per cent YoY to 422,200t. Arat Cement operates a dry-process facility close to the Turkish border with a nominal capacity of 1.2M... |
Siam Cement posts 43% drop in quarterly profit, Thailand25 July 2012, Published under Cement NewsThai conglomerate Siam Cement posted a 43 per cent fall in quarterly profit due to weak demand and a drop in the value of its petrochemical inventories. During the April-June period, net profit of THB4.28bn (US$135m), down from THB7.49bn a year earlier. The company’s earnings are expected to improve in the second half when demand should improve on the back of rebuilding work as the country's economy recovers from severe floods last year that shut factories at carmakers and disk-drive manu... |