Cement News tagged under: corporate
Adelaide Brighton reports slight drop in net profit, Australia16 February 2012, Published under Cement NewsAdelaide Brighton on Thursday booked a net profit for the 2011 calendar year of A$148.4m, down two per cent on 2010 as a result of a higher effective tax rate. The company lifted revenue by 2.6 per cent to a record A$1.1bn. Managing director Mark Chellew said the profit was a good result in challenging trading conditions."The company's record revenue was achieved largely as a result of demand from mining and resources and projects in South Australia and Western Australia and the continued... |
High Court blocks appointment of new chairman, Kenya16 February 2012, Published under Cement NewsA High Court Judge has blocked President Kibaki's appointment of new East African Portland Cement (EAPCC) chairman Dr Isaac Mpapaluu ole Mepenay pending a ruling on March 16, All Africa news reports. Judge Mohammed Warsame on Wednesday suspended the gazette notice on appointment of Mr Mepenay until a a ruling is made to determine whether the cement manufacturer is a state corporation. In an urgent application lodged at the High Court in Nairobi on Tuesday, four directors of EAPCC went to co... |
Qassim net profit up 10 per cent YoY16 February 2012, Published under Cement NewsQassim Cement’s full year 2011 net profit grew approximately 10% to SAR553m, according to a statement on the stock exchange website. The board is proposing a cash dividend distribution of SAR3.5/share for 2H11, which would bring total FY11 dividend payments to SAR5.75/share. |
Lafarge Jordan appoints New CEO16 February 2012, Published under Cement NewsLafarge Group announced the appointment of Toufic Ahmed Tabbara as CEO for Lafarge Jordan, both Cement and Concrete. Tabbara will take on his new position in February 2012, after having assumed a number of positions across Lafarge Group in several countries. “I am very pleased with my new responsibilities as CEO and I hope to carry forward Lafarge Jordan’s longstanding history in contributing to the economy, community and society at large. I am very eager to support the Company in leverag... |
CRH seeks dismissal of competition claims case15 February 2012, Published under Cement NewsCRH and Readymix asked the High Court yesterday to dismiss a claim against them for damages for breaches of competition law on the grounds that the plaintiffs have delayed too long before bringing their case. Three related companies, Framus, Amantiss and Wilbury, are taking a case against CRH and its subsidiaries, Readymix and Kilsaran, alleging that they broke a number of competition law provisions that forced the plaintiffs out of business. The plaintiffs claim that CRH, Readymix and Kil... |
Jaiprakash Associates 3Q net profit down 12%15 February 2012, Published under Cement NewsJaiprakash Associates' net profit fell by 12% to INR2.05bn (US$41.6m) in the third quarter of the current fiscal, mainly on higher interest outgoings. The diversified company, having interest in cement, real estate, construction and power among others, had made INR2.33bn net profit during the October-December quarter of last fiscal, it said in a filing to the BSE today. "The EBIDTA for the quarter is higher by INR860m over the corresponding quarter of previous year. However, due to high... |
Cemex fined for anti-competitive practices14 February 2012, Published under Cement NewsMexico’s competition watchdog has fined cement giant Cemex MXN10.2m (US$800,500) for anti-competitive practices in a 2005 dispute when the company blocked a shipment of cheap Russian-made cement from entering the country. The competitor tried to import 26,000t of lower-priced Russian cement into Mexico, but the “Mary Nour” vessel was held up for months at a Mexican port and eventually turned away in 2005 after being blocked by Cemex. The rival group brought a claim against Cemex in 20... |
India: JK Lakshmi Cement 3Q profits zoom14 February 2012, Published under Cement NewsJK Lakshmi Cement posted a net profit of INR492.4m (US$9.99m) for the quarter ended 31 December 2011 as compared to net profit of INR46m (US$0.9m) for the same period last year, representing steep rise of 10.7 times. The company’s total income rose from INR3153.3m for the quarter ended 31 December 2010 to INR4388.1m for the quarter ended 31 December 2011, an increase of 39.15%. JK Lakshmi attributed the rise in profitability to a nearly 13% increase in its sales volume. The company’s ... |
Saudi Arabia: Eastern Province net profit up 6% YoY14 February 2012, Published under Cement NewsFor the year ending 31 December 2011, Eastern Province Cement Co announced that its net profit was SAR364m (US$97m), compared to SAR343m (US$91.4m) for the same period of the previous year, an increase of 6%. The rise in the net profit was due to a decrease in the cost of sales and to the enhancement of the operational efficiency of production lines as well as the rationalisation of some production cost items. Earnings per share were SAR4.23, compared to SAR3.99 YoY. Gross profit was reco... |
Israel's Clal sells 55% of Nesher cement unit to Livnats13 February 2012, Published under Cement NewsHolding company Clal Industries agreed to sell a 55% stake in Mashav Initiating & Development, the parent of Nesher Cement, to the Livnat family for ILS1.32bn (US$355m). Clal will also receive ILS45m from a dividend Mashav will distribute prior to the deal, the company said in a statement on Sunday. It expects to post a capital gain of ILS750m-850m while its parent company IDB Holding Corp will post a gain of ILS400m-500m. The sale is in line with the group's strategy to simplify IDB's str... |