Cement News tagged under: corporate
Qilianshan Cement 1H earnings up 0.5%, China28 July 2011, Published under Cement NewsGansu Qilianshan Cement Group posted a 0.5 per cent YoY increase in net profits during the first half of 2011 to CNY247m (US$38m), according to a company filing. Sale revenues grew 19.39 per cent to CNY1.69bn. Total profits hit CNY341m, an increase of 12.6 per cent while earnings per share hit CNY0.52. The firm produced a total of 4.65Mt of cement, an increase of 27.4 per cent. It sold 4.99Mt, up 27.84 per cent. Qilianshan Cement put two facilities in Zhang County and another in Qinghai ... |
Cementos Portland first-half loss at EUR5.1m28 July 2011, Published under Cement NewsSpanish cement producer Cementos Portland Valderrivas closed the first six months of 2011 with a loss of EUR5.1m. Revenue amounted to EUR 401m, while the earnings before interest, tax, depreciation and amortisation (EBITDA) stood at EUR 105.4m. Between January and June, Cementos Portland succeeded in slashing its debt by EUR 24m. Abstracted from an original article in Cinco Dias |
Ambuja Cement reports 11% fall in second-quarter results28 July 2011, Published under Cement NewsAmbuja Cement has reported a fall of 11% in its second quarter CY11 net profit. During the period, net profit of the company went down to INR348 crore against INR391 crore in the corresponding quarter last fiscal. However, net sales increased 6% to INR2173 crore from INR2048 crore year-on-year. EBITDA margin too declined to 27.5% versus 31.4% year-on-year. |
Fujian Cement sees 1H net profit hit CNY 91.75m28 July 2011, Published under Cement NewsFujian Cement Inc saw its sales revenue hit CNY872m (US$135m) in the first half of 2011, according to a company announcement. Its net profit was CNY91.75m in the period and its earnings per share were CNY0.24. The company forecasted a net profit of CNY120m for the period from January to September of 2011. It lost CNY88.84m in the same period of last year. |
Cemex is worst junk in US market on losses28 July 2011, Published under Cement NewsBonds sold by Cemex are posting the biggest losses among major issuers of junk debt in the US after the company posted its seventh straight quarterly loss, Bloomberg reports. Notes issued by Monterrey, Mexico-based Cemex have lost 3.5 per cent this month, compared with an average return of 1.4 per cent for the 50 biggest issuers of dollar debt rated below investment grade, according to Bank of America Corp. indexes. Yields on the company’s nine per cent bonds due in 2018 rose 122 basis poin... |
Orient Paper to spin-off cement business, India28 July 2011, Published under Cement NewsKolkata-based Orient Paper and Industries Ltd. said it will separate its cement business and turn it into a new entity called Orient Cement Ltd, which will be listed by April. "We have undertaken the restructuring exercise to try and enhance shareholder value," Orient Paper’s chairman C.K. Birla said Wednesday. The cement business accounted for 60% of the company’s revenue for the quarter ended June 30, while its electricals and the paper division accounted for 30% and 10%, respectively. ... |
Lafarge 2Q11 net profit falls 12%28 July 2011, Published under Cement NewsLafarge said second-quarter net profit fell 12 per cent as weak US demand and higher raw material costs impacted results. The company, which said it expected to see market growth of 2 to 5 per cent for the year, said on Thursday that second-quarter sales were flat at EUR4.42bn. Net income fell to EUR289m from EUR329m in the year-ago period as the company’s operating margin narrowed to 15.9 per cent from 18.8 per cent. Emerging markets continue to be the main driver of demand. Overall pric... |
LSR Group places bonds worth RUB2bn28 July 2011, Published under Cement NewsLSR Group announces the results of the Series BO-05 bond placement worth RUB2bn (US$72.4m). The principal amount of the bonds placed was 2,000,000 with a nominal value of RUB1000 each. The first coupon rate was determined today as a result of the tender. The total size of the bond issue was RUB2bn. The duration period is three years (1092 days) from the placement date. The put option is not to be executed. In the course of the tender investors submitted 54 bids with the first coupon rate... |
Indonesia’s Indocement 2Q net profit rises 0.7%28 July 2011, Published under Cement NewsIndocement Tunggal Prakasa , Indonesia’s biggest cement maker by market value, said on Thursday that its second quarter net profit edged up 0.7 per cent, weighed by rising costs. The firm, controlled by HeidelbergCement, posted IDR860bn (US$101.3m) in net profit in the second quarter, versus IDR854bn in the same period last year, based on Reuters calculations from published first half profits. Domestic cement sales rose 14.8 per cent in the first half of the year, according to the country’... |
Southern Province Cement: Dividend payout at 27.5%27 July 2011, Published under Cement NewsThe board of directors of Southern Province Cement, Saudi Arabia, approved distributing cash dividend for the first half of the financial year 2011 at 27.5% of capital, at SAR 2.75 a share. |