Cement News tagged under: corporate
Jidong Cement profit warning, China17 April 2012, Published under Cement NewsTangshan Jidong Cement Co Ltd, a Hebei Province-based cement producer, predicted on 13 April that its net loss widened to CNY200-250m in the first quarter of this year from CNY11.27m a year earlier. |
Sichuan Shuangma Cement Co net profit drops17 April 2012, Published under Cement NewsSichuan Shuangma Cement Co net profit dropped 32.5% in 2011 to CNY162.65m (US$25.8m), from an adjusted 2010 net profit of CNY240.97m. The company's shares are down 1.4% at CNY8.48, but Dongxing Securities analyst Zhao Junsheng says he sees a longer-term upside. "The fall in profit was expected, and the overall cement sector is facing some pressure right now. If you look in the longer term, I expect to see some recovery" as regional demand for cement picks up, Zhao says. He maintains hi... |
Cimpor defence document rejects Camargo Correa bid16 April 2012, Published under Cement NewsThe Cimpor defence document claims that the Camargo Correa bid significantly undervalues the company. It points out that the EUR5.50 per share offer compares poorly with the EUR6.50 per share paid by Camargo Correa for the shares it acquired from Teixeira Duarte and from Bipadosa in 2010. Not only that, it is also lower than the failed EUR5.75/share bid for Cimpor by the steel company Companhia Siderurgica National (CSN) just over two years ago, that led to Camargo Correa and Votorantim ge... |
Shuangma Cement 28.23% drop in net profit, China16 April 2012, Published under Cement NewsShuangma Cement’s net profit fell 28.23% YoY to CNY331m (US$52.4m) last year, due to higher fuel and raw material costs, China Knowledge Press reported. The company, controlled by Lafarge China Offshore Holding, saw operating profit rise 17.44% year on year to CNY2.03bn last year. . Basic earnings per share were CNY0.26 in 2011, down 33.33% year on year. Sichuan Shuangma Cement produced 6.58Mt of cement last year, 21.08% more than in the previous year as the No. 3 line of Lafarge Dujiangya... |
Holcim Indonesia boosts dividend payout, Capex plans16 April 2012, Published under Cement NewsHolcim Indonesia plans to distribute IDR425bn (US$46m) in dividends, or the equivalent of 40 per cent of its 2011 net income, its chief executive has said. Speaking to the Jakarta Globe, Eamon Ginley said: “This plan has received approval from shareholders," adding "that would be equivalent to a dividend of IDR/share." Holcim posted IDR1.06trn in net income last year.??The 2011 dividend distribution increased from 2010, when the company distributed 23 percent of its net income as divide... |
Tanga Cement: full-year 2011 down on rising production costs16 April 2012, Published under Cement NewsTanzanian cement producer, Tanga Cement, reported a 32 per cent drop in 2011 net profit due to the depreciation of the local currency, erratic power supply and rising costs of imported clinker. The company, part of South Africa’s AfriSam group, said net profit fell to TZS21.93bn (US$13.9m) last year from TZS32.2bn the year before despite positioning itself well to meet rising cement demand, according to reports in All Africa News. Tanga Cement acting chairman, Prof. Samuel Wangwe, said gr... |
Saudi Cement Co 1Q net rises, Saudi Arabia16 April 2012, Published under Cement NewsSaudi Cement Co posted a 53.4 per cent rise in first-quarter net profit of SAR325.6m (US$86.8m) in the period, compared with SAR210.8m a year earlier, the company said in a statement to the Saudi bourse. |
Asia Cement issues profit warning, China16 April 2012, Published under Cement NewsAsia Cement China said it expects the group to record a substantially lower net profit for the first quarter of 2012 compared to the same period of last year. The decrease is primarily attributed to seasonal and climatic factors and a decrease in the demand for cement leading to a drop in sales. The average selling price of Asia Cement’s product’s was also down in the first quarter of 2012 compared to 1Q11. (Source: ET News) |
SOTACIB’s new Kairouan cement plant begins production16 April 2012, Published under Cement NewsA new cement plant located in the Rouissat region, Kairouan governorate, by the Société Tuniso-Andalouse du Ciment Blanc (SOTACIB), has begun producing its first cement according to a statement from Tunisia’s Ministry of Industry. The new facility has a capacity of 1.2Mta of cement and will strengthen total domestic cement production of 7.2Mt to 8.4Mt in late 2012. Abstracted from Business News, Tunisia |
Raysut Cement to get US$166.2m loan to refinance debt, Oman13 April 2012, Published under Cement NewsOman's largest cement company by market value, Raysut Cement said its board of directors decided at a meeting on Wednesday to take a OMR64m (US$166.2m) term loan to refinance an existing five-year loan. The new loan, with a tenure of 10 years, will be provided by Oman-based Bank Dhofar. In mid-February 2012, the cement manufacturer said it booked a net profit of OMR14.95m in 2011, down from OMR20.7m a year earlier. In mid-February 2012, the cement manufacturer said it booked a net prof... |