Cement News tagged under: corporate
Cimpor financing needs covered to end-201329 February 2012, Published under Cement NewsCimpor, Portugal’s leading cement producer, has said it has covered all its financing needs until the end of 2013, Chief Financial Officer Antonio Valera said at a conference today. If Cimpor issues new bonds it will do so to cover financing needs for 2014 onwards, Bloomberg reported Mr Valera as saying. |
Boral’s first half profit falls, Australia29 February 2012, Published under Cement NewsAustralian building materials producer Boral’s turnover in the six months to the end of December improved by 1.9% to AUD$2,433m (€1,976m) while the EBITDA declined by 11.9% to AUD$237m (€192m) and the trading profit falling by 26.9% to AUD$109m (€86m). The net interest charge is now on the way up again and it rose by 9.7% to AUD$34m (€27m) and the pre-tax profit fell by 35.9% to AUD$75m (€61m). Net debt at the end of December rose by almost 2½ times to AUD$1,544m (€1,254m) to give a gearing ... |
Dewan Cement reverses six month loss, Pakistan29 February 2012, Published under Cement NewsPakistan cement producer, Dewan Cement Ltd, posted a PKR130m (US$1.43m) profit after tax in the first half of the current fiscal (in 1HFY12) compared to a loss of PKR325.1m in the corresponding period of 2010. Earnings per share stood at PKR0.33 against per share loss of PKR0.9 in the same period a year ago. According to a statement by the company to the Pakistan Stock Exchange, net turnover rose to PKR3.12bn in 1HFY12 against PKR2.09m in 1HFY11 while the cost of sales increased to PKR... |
Siam raises stake in Philippine firm, mulling Myanmar plans29 February 2012, Published under Cement NewsThailand’s Siam Cement has reached a deal to raise its stake in a listed Philippine building materials firm from 40 per cent to 80 per cent in a deal valued at THB1bn (US$33m). However, the company has declined to name the firm, but it is thought to be Mariwasa Siam Holdings of which the company owns 40 per cent according to its latest annual report. Siam chief executive Kan Trakulhoon declined to confirm. Mr Trakulhoon said it would make a decision by the end of this year on weather i... |
CRH helped by acquisitions28 February 2012, Published under Cement NewsCRH's turnover recovered by 5.3% last year to €18,081m and the EBITDA was ahead by 2.5% to €1656m. The trading profit rose by 24.8% to €871m and after other charges, including a net interest charge 5.1% higher at €229m, the running pre-tax profit improved by 12.9% to €743m. The net attributable profit advanced by 36% to €597m. Net debt at the end of December was 0.3% higher at €3483m and the gearing level was marginally lower at 32.9% compared with 33.4%, as shareholder's funds increased by ... |
Natixis reiterates Lafarge “buy” recommendation28 February 2012, Published under Cement NewsNatixis has confirmed its “buy” recommendation and EUR40 share price target on Lafarge. The broker said it is confident of the company’s ability to achieve its 2012 goals and reduce debt through increased cash flow and asset sales, SeeNews France reported. Earlier this year Lafarge said it plans to cut 460 jobs worldwide as part of its reorganisation strategy. Under the project, it will replace its current product-line based organisation with country-based structure. During the relea... |
Jaiprakash to hive off cement company, India28 February 2012, Published under Cement NewsJaiprakash Associates will hive off its cement plants and other units of the company to wholly-owned subsidiary, Jaypee Cement Corporation, the Economic Times of India reports. "We are pleased to inform that the equity shareholders and creditors of the company, in their respective meetings held on February 25, have duly approved the scheme of arrangement," Jaiprakash Associates said in a statement to the Bombay Stock Exchange (BSE). Cement is one of the major businesses of Jaiprakash Asso... |
Cementos Portland reports 2011 loss, Spain27 February 2012, Published under Cement NewsCementos Portland Valderrivas of Spain reported a loss of EUR327.5m for 2011 against a profit of EUR1.2m registered in 2010, local press reported. The result was explained by the company’s need to allocate EUR337m to the reinforcement of its balance sheet, Expansión reported. Excluding this effect, the loss would have come in at EUR16m. Revenues were down by 19.2 per cent YoY to EUR609m, while EBITDA amounted to EUR150.1m, down 30.8 per cent. Cementos Portland plans to boost EBITDA ... |
Bamburi Cement uncertain on 2012 outlook27 February 2012, Published under Cement NewsBamburi Cement, a unit of Lafarge, reported a 28 per cent rise in 2011 turnover supported by sales from its Ugandan unit but warns its performance this year could be affected by inflation and uncertain political outlook in the lead-up to Kenya's elections. The company earned a pre-tax profit of KES8.47bn at the end of 2011 from KES7.56bn in 2010. East Africa's largest cement maker had seen a 7.4 per cent decline in profits in 2010 compared to 2009. The group's turnover increased by 28 ... |
CNBM sees 2011 annual net profit doubling, China27 February 2012, Published under Cement NewsChina National Building Materials said it expects 2011 annual net profit to double on increased prices and higher cement sales and, according to some analysts, the company should now reap the benefits of its aggressive expansion plan over the last two years. CNBM said in a filing to the Hong Kong Stock Exchange that audited net profit for last year may increase by more than 100 per cent compared to 2010. In a statement, the company said: “In the year of 2011, driven by continuous i... |