Cement News tagged under: corporate
Kuwait Cement first-half net profit09 August 2011, Published under Cement NewsKuwait Cement Company said in a bourse filing yesterday it booked a net profit of KWD8.69m (US$31.2m) for the six months ended June 30, 2011, slightly down from KWD8.81m a year earlier. The cement producer reported earnings per share (EPS) of 14.04 fils for the first half of 2011, compared to 14.96 fils a year ago. For the second quarter of 2011, the company’s net profit stood at KWD3.81m, almost unchanged from KWD3.82m in the same period last year. The total assets rose to KWD240.3m at e... |
Moody’s downgrades Lafarge, outlook stable08 August 2011, Published under Cement NewsCredit rating agency Moody’s downgraded on Friday the long-term senior unsecured ratings of Lafarge to Ba1 from Baa3. The change comes after earlier this week Moody’s placed Lafarge’s rating under review for downgrade. Now the rating agency gave a "stable" outlook on the rating. |
Qatar National Cement Company reports fall in net profit08 August 2011, Published under Cement NewsQatar National Cement Company (QNCC) has reported 17% shrinkage in the first half’s net profit to QAR214.27m (US$58.8m) due to lower revenue. Revenue fell 11% to QAR521.52mn and cost of sales also dipped 10% to QAR296.85m, resulting in a 13% slump in gross profit to QAR224.67m, according to its financial statement filed with the Qatar Exchange. Other income plunged 42% to QAR19.47m, even as it reported QAR1.32m gains as share of results of associates against a loss of QAR0.36m in the previ... |
Hail Cement to sell shares, Saudi Arabia?08 August 2011, Published under Cement NewsThe Capital Market Authority (CMA) has recently announced the offering dates for the initial public offering (IPO) of Hail Cement Company (HCC). The total size of the offering is SAR489.5m and stocks will be offered at par value — SAR10 per share. The subscription opens on September 20 and ends on September 26. “We are very pleased with this announcement,” Gulf International Bank (GIB) Chief Executive Officer Yahya A Alyahya said, commenting on the CMA’s decision. |
Kenya Athi River 1H profit rises, demand strong08 August 2011, Published under Cement NewsKenya’s Athi River Mining posted a 23 per cent rise in half-year pretax profit and said demand for cement in the region remained strong. Athi River posted a pretax profit of KES636.30m for the period ended June 30 and said turnover climbed by 30 per cent on the back of an increase in cement production. "Demand for all the company products remains strong. The company has taken measures to counter the impact of higher input costs, depreciation of the local currency, the highly competitive en... |
Buzzi Unicem expects a better second half08 August 2011, Published under Cement NewsBuzzi Unicem’s first half turnover improved 9.1% to €1339.4m, but the EBITDA still came down by 3.2% to €183.1m. For the full year, however, Buzzi Unicem is expecting the running EBITDA to show an improvement over last year on the back of a better second half. First half trading profit was down by 14.5% to €62.5m and the interest charge was 7.8% lower at €46.0m, giving a pre-tax profit 38.6% lower at €16.1m. After a tax charge 54.9% lower at €4.3m and a minorities charge 3.5% higher at €12... |
LSR Group retains Fitch rating, Russia07 August 2011, Published under Cement NewsFitch ratings has affirmed OJSC LSR Group’s (LSR) Long-term foreign currency Issuer Default Rating (IDR) at ’B’ with a Stable Outlook and the senior unsecured rating of the existing bond issues of RUR5.0bn, RUR1.5bn, RUR2.0bn and RUR2.0bn at ’B’. The agency has also assigned the new bond issue of RUR2.0bn a senior unsecured rating of ’B’. The affirmations reflect LSR’s acceptable liquidity position and its strong positions in the Russian development and building materials markets. Fitch a... |
Grace opens new manufacturing facility in India05 August 2011, Published under Cement NewsGrace Construction Products, an operating segment of WR Grace & Co, has started manufacturing from a new facility near Delhi, India. This site’s development is part of Grace’s ongoing growth strategy to invest in emerging regions. Employees at this location manufacture cement additives and concrete admixtures that are sold to cement and concrete manufacturers in Northern India. “We continue to invest in emerging economies in order to meet our customers’ needs," said Andrew Bonham, Presid... |
Egypt’s Alex Cement lifts first-half profit 25%05 August 2011, Published under Cement NewsEgypt’s Alexandria Cement said on Thursday its first-half net profit rose 25 per cent YoY to EGP357.9m (US$60m). The subsidiary of Greek cement maker Titan Cement posted net profit of EGP286.5m in the same period a year earlier. |
Siam City Cement profit rises05 August 2011, Published under Cement NewsSiam City Cement’s consolidated net profit jumped 44.4 per cent to THB1.06bn in the three months ending June 30 from THB731.56m in the same period of the previous year. |