Cement News tagged under: corporate
Dangote Cement profit up 23 per cent, Nigeria03 November 2011, Published under Cement NewsDangote Cement posted a 23 per cent increase in nine-month profit as cement sales rose. Net income in the nine months to Sept. 30 rose to NGN92.8bn (US$589m) from NGN75.3bn a year earlier, the Lagos-based company said. Revenue climbed 19 per cent to NGN173.8bn cement sales advanced 9.2 per cent to 6.4Mt, it said. Dangote, which is also Nigeria’s biggest company by market value, is spending more than US$2.5bn on eight new plants across Africa as well as constructing cement import terminal... |
GCC posts US$9.7m loss in 3Q, Mexico03 November 2011, Published under Cement NewsMexicos’ Grupo Cementos de Chihuahua (GCC) posted a loss of MXP131m (US$9.7m) in the third quarter of this year, compared with a net gain of MXP138mn in 3Q10. The company sold off its 47% stake in Bolivian cement firm Soboce on 19 August at a loss of MXP284m. The result was also affected by the appreciation of the peso against the dollar, GCC said in its quarterly results report. Net sales grew 8.2% to MXP.29bn compared with MXP2.12bn in 3Q10, while operating income was up by 14.8% to MXP3... |
Vulcan’s cement loss doubles03 November 2011, Published under Cement NewsVulcan Materials’ turnover for the first nine months eased by 1.2% to US$1949.9m, while the EBITDA did increase by 10.2% to US$340.3m. As a result, the trading profit more than quadrupled from US$14.9m to US$69m. However, the net interest charge jumped by 21.8% to US$163.8m, giving a pre-tax loss for the period that was 17.5% lower at US$97.3m. Gross capital investment in the period was 24.5% higher at US$77.3m. Net debt was 0.2% lower than a year earlier at US$2,669.1m, giving a gearing le... |
PIC blocked in move to redeem Afrisam debt, take control02 November 2011, Published under Cement NewsThe Public Investment Corp’s (PIC) bid to redeem debt in Afrisam Ltd has been temporarily stopped by the Pretoria High Court, blocking the money manager’s bid to gain control of South Africa’s second-largest cement producer, reports Bloomberg. Bunker Hills Investments Ltd. won a court interdict to prevent the state-owned pension-fund manager from converting ZAR4.7bn (US$579m) of preference shares into equity, Peter Tshisevhe, a lawyer for Bunker Hills, said yesterday, citing the judgment. T... |
Parekh Joins Lafarge’s International Advisory Board01 November 2011, Published under Cement NewsThe Housing Development Finance Corporation (HDFC) chairman Deepak Parekh has joined the International Advisory Board of Lafarge. Parekh, who recently stepped down as non-executive chairman of Lafarge India, was replaced by Uday Khanna who is retiring from his position as MD and CEO, Lafarge India. |
JK Lakshmi Cement 2Q net profit up01 November 2011, Published under Cement NewsSpurred by higher sales volume, JK Lakshmi Cement today reported 12.67 per cent rise in net profit at INR6.49 crore for the quarter ended September 30. The company had reported INR5.76 crore net profit in the July-September quarter of last fiscal, its Whole-Time Director Shailendra Chouksey told reporters here. Its net sales grew to INR354.13 crore from INR 266 crore a year ago, buoyed by rising sales that stood at 11.27 lakh tonnes during this period from 9.45 lakh tonnes a year-ago. ... |
Fitch revises Rain Cement’s outlook to stable01 November 2011, Published under Cement NewsFitch Ratings has revised India-based Rain Cements Limited’s (RCL) Outlook to Stable from Negative. Its National Long-Term rating has been affirmed at ’Fitch A-(ind)’. A list additional rating actions is provided at the end of this commentary. The Outlook revision and affirmation reflect RCL’s improved operating performance for the six months ended June 2011 (1H11) due to higher cement prices during the same period. Average realisation per tonne of around Rs. 3,874 in 1H11 compared with Rs.... |
Indocement Jan-Sep net profit up 8.8%01 November 2011, Published under Cement NewsPT Indocement Tunggal Prakarsa Monday reported that its net profit rose 8.8% to IDR2.59trn (US$293m) in the first nine months of the year from IDR2.38trn a year ago. Indocement sold 11.43 Mt of cement in the period, up 12% from 10.21Mt, it said in a statement. Greater sales boosted revenue to IDR9.78trn from IDR8.11trn. |
ACC 3Q consolidated net profit INR1.59bn01 November 2011, Published under Cement NewsACC Ltd Tuesday said consolidated net profit for the fiscal third quarter rose 84% due to higher sales. Net profit for the Indian unit of Swiss cement-maker Holcim Ltd. rose to INR1.59bn (US$32.3m) from INR863.1m in the July-September period. Sales rose 30% to INR22.83bn from INR17.59bn. |
Huaxin Cement 3Q net profit soars, China01 November 2011, Published under Cement NewsHuaxin Cement Co Ltd, a Hubei Province-based cement manufacturer, saw its net profit in the third quarter soar to CNY362m (US$56.9m), the company’s quarterly report said. Its operating revenue in the period totalled CNY3.41bn. In the first three quarters of 2011 the company recorded CNY8.98bn and CNY905m in operating revenue and net profit respectively, with earnings per share of CNY1.12. The company forecasts a more than 50% jump in 2011 net profit compared with 2010. |