Cement News tagged under: corporate
Dangote closes 2011 as most capitalised company, Nigeria03 January 2012, Published under Cement NewsDangote Cement plc has maintained its leadership status as it remained the most capitalised company at the stock market, after trading on the Nigerian bourse ended last Friday. Despite the downturn that saw the Nigerian Stock Exchange (NSE), All-Share Index closed 2011 with a significant decline of over 16 per cent, Dangote Cement equity ended the year with a market capitalisation of N1.716trn. |
Yamama Cement expects 19% profit rise, Saudi Arabia03 January 2012, Published under Cement NewsSaudi Arabia’s Yamama Cement estimated fourth quarter profits would be 19 per cent higher on Tuesday, partly on higher sales. Yamama said estimated net profit was SAR191m (US$50.9m) in the quarter ended December 30, up from SAR160m in the prior-year period, according to a statement said. On the year, it had estimated profit of SAR740m, up 13 per cent from SAR657m in 2010. Estimated operating profit for the fourth quarter also rose 19 per cent to SAR179m, from SAR166m a year earlier. |
Profits fall at Qatar National Cement02 January 2012, Published under Cement NewsNet profits for Qatar National Cement in the first half of 2011 to June 30 fell by 16.56 per cent to QAR214.3m (US$58.8m). Y-on-Y sales revenues dropped by 11.1 per cent to QAR521.5m. |
UAE: UAQ Cement records half-year loss02 January 2012, Published under Cement NewsUmm Al-Qaiwain Cement Industries, which operates one grinding plant in the UAE and is listed on the Kuwait Stock Exchange, reported a loss of KWD155,000 (US$563,642) for the half year to June 2011. Reflecting the severe deterioration of the UAE cement market, total sales plummeted by 56.4 per cent to KWD792,000 over the same period. |
Yanbu restarts units, says needs fuel for new line28 December 2011, Published under Cement NewsSaudi cement maker Yanbu Cement Co has restarted three of its four production lines nearly two months after a fuel shortage forced the company to halt operations, resulting in a loss of around SAR14.2m. In October, Yanbu Cement said Saudi Aramco had not responded to its requests for additional fuel needed to commission the plant’’s fifth new production line. This caused the firm to divert fuel from its old units to test the new production line. Saudi... |
Gorazdze breaks cement production record28 December 2011, Published under Cement NewsGorazdze will produce over 4.3Mt of cement in 2011, the best result in history, said Gorazdze Cement Deputy Head Wieslaw Adamczyk. He underlines that 2011 has been very good for the whole sector, with its total production output settling at 17.42Mt after the first 11 months of the year. This figure is already higher than the annual output for 2008, which amounted to 16.95Mt and until 2011 had been the best result since the economic transformation in 1989. According to esti... |
Saudi Eastern Province Cement profits remain level23 December 2011, Published under Cement NewsSaudi cement producer, Eastern Province Cement Company (EPC), recorded a net profit of SAR 258m (USD68.8m) for the nine months up to September 2011, only slightly down from SAR260m a year ago. The decrease in the company’s bottom-line results was attributed to lower sales during the nine-month period, and in particular the holy month of Ramadan and the Eid al-Fitr holidays. The operating profit stood at SAR 272 million in January-September 2011, up from SAR 266 million a year earlier. For ... |
EAPC cuts dividend payout to finance growth, Kenya21 December 2011, Published under Cement NewsKenya’s East African Portland Cement (EAPC) will slash its dividend payout in future to boost its cash reserves for financing expansion, managing director Kepha Tande has said. Shareholders of the cement manufacturer will earn a dividend of KES0.50/share this year, after going without any payout last year. Mr Tande said EAPC has lined up capital-intensive projects in the medium term which will take up most of the listed firm’s cash reserves. The projects, Mr Tande said, include constructi... |
Southern Province Cement 2011 profit estimates21 December 2011, Published under Cement NewsSouthern Province Cement (SPC) posted an estimated net profit of SAR244m for 4Q11 compared to SAR165m for the same quarter of the previous year, an increase of 47.88%, according to a press statement of the company issued today. This also showed an increase of 35.56% against the posted net profit of SAR180m during the previous third quarter of the year 2011. The company’s estimated gross profit during the fourth quarter of 2011 is SAR260m compared to SAR180m for the corresponding period l... |
Shree Digvijay appoints Managing Director20 December 2011, Published under Cement NewsIndian cement producer, Shree Digvijay Cement Co, has appointed Suman Mukherjee as Managing Director. The effective date is December 20, 2011. |