Cement News tagged under: corporate
Allied Cement net profit drops, China03 April 2012, Published under Cement NewsAllied Cement Holdings Ltd, based in Shandong Province and Shanghai, said net profit declined 54.8 per cent YoY in 2011 to HK$ 76.16m. However, sales increased 60.7% YoY to HK$ 725m with basic earnings per share standing at HK$ 0.21. (Source: China Buisiness Newswire) |
Holcim CEO cost cutting measures – report03 April 2012, Published under Cement NewsBernard Fontana, Holcim’s new chief executive officer, will have to restructure the cement maker’s business in Europe where additional plants will have to be closed, cut costs, and expand the company’s business in emerging markets, SonntagsZeitung said, citing criteria set for him by the board of directors. Details of Fontana’s plans will be presented on April 17 at the company’s shareholder meeting, the newspaper said. (Source: Bloomberg) |
Camargo Correa bids for Cimpor02 April 2012, Published under Cement NewsCamargo Correa has announced a €2480m bid for Cimpor at €5.50 per share, a 10% premium on the pre-offer share price. InterCement Austria, a wholly-owned subsidiary of Camargo Correa is being used as the bid vehicle. Camargo Correa is currently the sixth-largest cement producer in Brazil, and market leader in Argentina, while Cimpor is the number four in Brazil. Together, the two companies would form the second largest in Brazil, but would still be less than a third of the size of market lead... |
Buzzi Unicem boosted by strong Dyckerhoff advance02 April 2012, Published under Cement NewsOn a turnover that advanced by 5.2% to €2787.4m, Buzzi Unicem’s underlying EBITDA improved by 6.0% to €422.3m. With the non-recurrence of the exceptional charges seen in 2010, the trading profit (EBIT) jumped from €0.3m to 185.9m. After a net interest charge 3.7% lower at €99.8m a pre-tax profit of €84.3m emerged, an improvement on the previous year’s loss but still well below the €235.2m profit achieved in 2009. Net attributable profit was €26.4m. Net debt at the end of the year was 9.8% lo... |
Dangote to list on London Stock Exchange – report02 April 2012, Published under Cement NewsNigeria-based cement producer Dangote Cement has mandated JP Morgan and Morgan Stanley to handle its London listing, according to a report in the Financial Times. Dangote Cement intends to float its stock on the London Stock Exchange in 2013 hoping to have made significant progress in its business expansion by next year, the paper reported. Dangote eyes a free float of 20 per cent and plans to use the proceeds to fund its swift business growth. The FT also cited Dangote Cement’s cha... |
Jiangxi Wannianqing Cement net profit rises, China02 April 2012, Published under Cement NewsJiangxi Wannianqing Cement Co Ltd reported a 230 per cent YoY rise in net profit year due to an increase in sales volumes and higher selling prices. China Business Newswire reported that the company's net profit hit CNY506m (US$80m) last year, with basic earning per share reaching CNY1.28. The Shenzhen-listed company plans to distribute a cash dividend of CNY2.6 (before tax) for every 10 shares held. Jiangxi Wannianqing Cement produced 14.91Mt of cement and 12.36Mt of clinker in 2011, up ... |
HSBC lifts Lafarge price target, upgrades Heidelberg02 April 2012, Published under Cement NewsHSBC has lifted the share price target of Lafarge to EUR 37 from EUR 27 and reiterated its "neutral" recommendation. The broker considers that the construction sector is recovering from the consequences of the economic crisis. At the same time, HSBC upgraded HeidelbergCement AG to "overweight" from "neutral", as it sees the company to keep performing well. (Source: SeeNews France) |
Deutsche Bank raises stake in Shanshui Cement, China02 April 2012, Published under Cement NewsDeutsche Bank acquired 33.09 million shares in China Shanshui Cement Group Ltd at HK$ 5.55 apiece and for a total of HK$ 184m last Friday, China Business Newswire reported, citing information released by the Hong Kong Stock Exchange. After the purchase Deutsche Bank's stake in Shanshui Cement increased by 1.18% to 9.36%. |
Lafarge Zimbabwe bullish on year ahead30 March 2012, Published under Cement NewsLafarge Cement Zimbabwe reported a 19 per cent increase in turnover of ZWD$49.7m (US$0.14m) in 2011 driven by rising local demand. Pretax profit was up 35 per cent to ZWD5m from ZWD3.7m the year before while net profit rose from ZWD3.5m from ZWD2.7m in 2010. Total cement sales for the year advanced by four per cent. Lafarge Zimbabwe chairperson, Muchadeyi Masunda said he remains bullish about the Zimbabwe economy which is expected to continue growing with increased activity in mini... |
Credit Suisse lowers BBMG Corp target price30 March 2012, Published under Cement NewsCredit Suisse lowered its target price for BBMG Corporation to HK$9.6 from HK$11.9, and maintained its "outperform" rating. The research house said the China-based producer reported weaker FY2011 results and CS has therefore revised down its earnings by 23% for 2012 to reflect the persistent pressure on cement margin. But it added that valuation remains undemanding at this point. Credit Suisse expects a moderate improvement in 2012 from the low base in 2H11. |