Cement News tagged under: corporate
Century Plyboards’ sees 35 % rise in 1Q turnover, India24 July 2011, Published under Cement NewsCentury Plyboards (I) reported a higher net profit of INR53.70 crore for the first-quarter ended June 30, 2011, compared to a INR51.44 crore net in the earlier corresponding period. Turnover during the April-June period too was up 34.57 % at INR482.27 crore (INR358.39 crore). Century Plyboards’ is in the process of expanding its cement, plywood, laminate and pre laminated board capacities. In a media statement issued after the company’s board meeting, Century Plyboards (I) officials said ex... |
Lafarge raises €120m from Australian disposal22 July 2011, Published under Cement NewsLafarge has agreed the sale of its Australian gypsum operation to Knauf for €1200m. This business generated an EBITDA of €13m in 2010 and is the third plasterboard producer in Australia, with two plants. The two bigger producers are CSR, using the Gyproc name in Australia that elsewhere belongs to Saint Gobain, and Boral. The Australian government would not let two of the three domestic producers merge and the deal with Knaaf should allow Boral to acquire the remaining half of Lafarge’s gyp... |
Cimpor receives new financing ??21 July 2011, Published under Cement NewsCimpor has realised new funding worth approximately EUR100m, with international markets. Official sources told the Economic Daily that this new tranche of funding has a term of four years. However, it did not specify the financial instrument. The same official source said, Cimpor "has no refinancing needs for the next two years." "The average maturity of debt [Cimpor] was 2.7 years earlier. It is not yet determined the increase induced by this new long-term financing," the source add... |
Siam Cement: weak 2Q11 expected but 2H advance forecast20 July 2011, Published under Cement NewsThai conglomerate, Siam Cement (SCC) is expected to post weak QoQ earnings for 2Q11 due mainly to seasonal factors, lower petrochem spread and inventory loss. However, earnings will improve in 2H11 while growth momentum should gain pace in 2012 from better petrochem spread, higher utilisation at its second cracker and increasing contribution from HVA products. A 2Q11 net profit of Bt7.35bn is forecasted which represents a fall of 20.2% QoQ but flat YoY (+0.8%). The decline QoQ is due to lo... |
S&P says US$650m notes add-on not to sway Cemex’s rating20 July 2011, Published under Cement NewsS&P said on Tuesday the additional US$650m issue to the existing seven-year US$1bn senior secured notes of Cemex has no impact on the issuer’s B senior secured debt rating. The notes amount to US$1.65m after the reopening. Cemex will use the proceeds from the recent bond reopening to refinance most of its 2012 maturities and some US$200m of its 2013 financing agreement’s maturities, avoiding a 50-basis-point margin step-up. The notes add-on also leaves intact the recovery rating of 3, refle... |
Al Jouf Cement swings to net profit, Saudi Arabia20 July 2011, Published under Cement NewsSaudi Arabia’s Al Jouf Cement Co Tuesday swung to a net profit of SAR25.9m (US$6.9m) in the second quarter of 2011, from a net loss of SAR1.7m a year earlier, on higher sales. First-half earnings per share came in at SAR0.42, compared with a loss per share of SAR0.07 a year earlier, it said in a statement posted on the Saudi bourse website. The company, which started trading on the kingdom’s bourse in August last year, said its second-quarter operating profit stood at SAR28.6m, compared wi... |
Cemex expected to report smaller 2Q loss YoY20 July 2011, Published under Cement NewsCemex is expected to post a smaller second-quarter net loss on Friday 22 July as revenue gets a lift from higher prices, although concerns over the company’s debt situation linger. Cemex will likely post a US$64m loss in the three-month period ending in June, compared to a US$306m loss in the second quarter of last year, according to a Reuters poll of seven analysts. "In our opinion, the weak results in the second quarter had already been priced in by the market in the face of the slow rec... |
Southern Province net profit up 29%19 July 2011, Published under Cement NewsSouthern Province Cement Co, Saudi Arabia’s biggest cement firm by market value, said Monday its second-quarter net profit rose 29.2% to SAR239m (US$63.7m) compared with the year-earlier period, due to higher sales and demand. The result was above the SAR233m that analysts at Riyadh-based NCB Capital had noted in and the SAR237m predicted earlier by the firm. First-half earnings per share were SAR3.32, compared with SAR2.68 in the year-earlier period, Southern Province Cement said in a sta... |
LSR Group announces bond placement, Russia19 July 2011, Published under Cement NewsRussia’s LSR Group announces the placement of interest-bearing non-convertible rouble bonds redeemed at the request of the owners and at the discretion of the issuer. The bonds will be placed through public subscription. The total size of the issue is RUB 2bn. The placement will be conducted in the form of tender to determine the first coupon rate pursuant to the procedure established by the Resolution on securities issue and the Prospectus. The interest rate of the second, third, fourth, f... |
Saudi Cement net profit rises more than 15%18 July 2011, Published under Cement NewsSaudi Cement Company said net profits for the second quarter have risen more than 12% against the same period last year, with half-year profits rising more than 15%, as demand for the material in Saudi Arabia boosts the balance sheet. The kingdom’s biggest supplier reported after-tax profits of $56.98m (SAR 213.7m), against US$50.82m (SAR 190.6m) last year, up 12.1%, as gross and operating profits rose 10.7% and 12.6% respectively. Net profits for the last six months stood at US$113.22m (S... |