Cement News tagged under: corporate
Dangote’s first quarter and full-year advances, Nigeria10 May 2012, Published under Cement NewsDangote Cement Plc on Wednesday released its results for the first quarter and also its financial year ending December 2011 to the Nigerian Stock Exchang. The company said 1Q revenue grew by 17.6 per cent from NGN54.51bn (US345.6m) in 2011 to NGN64.11bn first quarter this year, while its revenue for full year 2011 stood at NGN235.91bn. First quarter pretax profit rose by nine per cent to stand NGN30.32bn compared to NGN27.83bn recorded in first quarter of last year, while profit before t... |
Kuwait Cement 1Q net profit grows to US$18.3m10 May 2012, Published under Cement NewsKuwait Cement Company said in a bourse filing it booked a net profit of KWD5.1m (US$18.3m) for the three months ended March 31, 2012, up from KWD4.9m a year earlier. The cement producer reported earnings per share (EPS) of 8.3 fils for the first quarter of 2012, compared to 7.9 fils in the same period last year, SeeNews Middle East and Africa reports. The total assets rose to KWD 264.4m at end-March 2012 from KWD 249.1m a year ago. |
CRH to begin conciliatory talks, plans to increase China stake10 May 2012, Published under Cement NewsIrish Cement, a subsidiary of CRH, will begin talks today with representatives of 100 workers who have been on strike for almost five weeks, the Irish Times reports. Staff at Irish Cement plants in Castlemungret, Co Limerick, and Platin, Co Meath, have been on strike now for almost a month over payments worth €5500-€9500 to each worker. The staff and their trade union, Siptu, say a Labour Court ruling obliges the company to pay them the cash. However, Irish Cement says the payments are tie... |
Jiangxi Wannianqing gets private placement approval10 May 2012, Published under Cement NewsJiangxi Wannianqing Cement Co Ltd, a Jiangxi Province-based producer of cement and clinker, announced on May 7th that it was approved by China Securities Regulatory Commission to issue no more than 65 million shares at no less than CNY10.56 a share via a private placement. |
Europe holds back Holcim09 May 2012, Published under Cement NewsHolcim’s first quarter turnover improved by 2.2% to CHF4,760m (€3,922m), which represents an increase of 7.1% on a comparable basis and measured in euros the turnover advanced by 8.1%. The operating EBITDA eased by 1.1% to CHF745m (€614m), which represents a 4.6% advance in euro terms. The trading profit edged up by 0.5% to CHF349m (€287m), while at the net attributable level there was small profit of CHF10m (€8m), representing an improvement of 1.1%, or of 7% in euro terms. Net debt at the... |
CRH is ahead in America but suffered from adverse weather in Europe09 May 2012, Published under Cement NewsCRH's underlying sales improved by about 2% during the first four months of the year, with North America benefiting from comparatively favourable weather conditions, while the opposite was a case in Europe, which suffered from a harsh winter, particularly in February. Thirteen acquisitions or major investments were undertaken in the period for a cost of about €230m, compared with €135m spent in the same period last year. Heavy building materials volumes were well ahead in the Ukraine, ... |
Brazil contributes 44% of Cimpor’s EBITDA09 May 2012, Published under Cement NewsCimpor’s first quarter turnover declined by 4.9% to €521.2m and the EBITDA came off by 10.2% to €128m. A further 7.5% reduction in depreciation and provision charges to €49.7m brought about an 11.8% reduction in the trading profit to €78.3m. After net financial costs 8.4% higher at €10.7m, to give a pre-tax profit 14.3% lower at €67.6m and the net attributable profit, after a higher tax charge but a minorities credit of €1.5m, was 15.4% lower at €49m. Net debt was 0.2% higher at €1,553.4m... |
Tanzanian Portland cement sees increased demand09 May 2012, Published under Cement NewsTanzania Portland Cement Co (TPCC), a unit of HeidelbergCement, reported a rise in full year 2011 net profit and sees cement demand continuing to rise as it prepares to bring new capacity on-line. TPCC reported net income in the 12 months through to December of TZS50.6bn (US$32m) up from TZS50.2bn. However, higher input costs and issues with electricity supplies hampered the company’s performance. “Higher imports of clinker and frequent breakdowns of machinery resulting from the erratic ... |
Lafarge WAPCO first-quarter rise, Nigeria09 May 2012, Published under Cement NewsLafarge WAPCO posted a turnover of NGN22.6bn (US$143.7m) in the first quarter of 2012, up from NGN14.198bn YoY, representing growth of 59 per cent above the 2011 figures. Profit after tax soared by 151 per cent from NGN1.621bn to NGN4.071bn in 2012. According to analysts at FBN Capital Ltd, the strong sales reflect a higher volume contribution from Lafarge Cement’s new Lakatabu plant, which they said had ramped up production after preliminary hitches in 4Q11. “Management had disclosed ... |
Huaxin Cement to issue CNY2bn bonds, China09 May 2012, Published under Cement NewsChina's Huaxin Cement Co is planning to sell CNY2bn (US$317m) of bonds to fund the expansion of its business, a source familiar with the deal said Wednesday. The source said the bonds, which have maturities of five and seven years, will be sold through the Shanghai Stock Exchange next week. Citic Securities Co. will be the lead underwriter of the deal, said the person. (Dow Jones International News) |