Cement News tagged under: corporate
Fujairah Cement faces challenging future19 May 2011, Published under Cement NewsUAE-based Fujairah Cement Industries Company (FCI) has declared its 1Q11 results recording net loss of AED2.6m (US$437,874) in 1Q11 compared to a profit of AED0.2m in the same period last year. Sales volumes rose during the period which resulted in an increase in the gross margins, but with a increase in financial charges, profits fell-back and the company reported a loss. Cost of sales rose to AED116.6m in 1Q11 as compared to AED91.7m in 1Q10. But its percentage to sales was lower during th... |
Thailand’s Siam City Cement: 1Q11 earnings a four-year record19 May 2011, Published under Cement NewsSiam City Cement (SCCC) has announced strong 1Q11 earnings of THB1160m (EPS Bt4.85), the highest in four years, strongly up 96% QoQ and 37% YoY. This was driven by a high sales level of THB6.218bn (+16% QoQ, +15% YoY). The gross margin was up to 46% compared with 42% in the previous quarter and 43.9% in the previous year on higher cement prices and the Waste Heat Recovery (WGR) system savings. SCCC earnings performance has been down for the past six years from THB4.1bn in 2004 to THB2.7b... |
China Shanshui seeks to sell US$300m-500m dollar bond18 May 2011, Published under Cement NewsChina Shanshui Cement Group Co is seeking to sell a US$300m-$500m global dollar bond with a yield of "mid-8%" as early as today, a person familiar with the proposed deal said Wednesday. Barclays Capital, Credit Suisse, Deutsche Bank and Standard Chartered are joint lead managers and bookrunners for the planned Rule 144A/ Reg S offering. The company says it will use the proceeds to refinance borrowings, expand capacity by building production lines or acquiring production facilities, and for... |
Vulcan declares quarterly dividend on common shares18 May 2011, Published under Cement NewsThe Board of Directors of Vulcan Materials Company at a regular meeting declared a quarterly dividend of 25 cents per share on its common stock payable June 10, to shareholders of record May 27. |
National Cement posts nine-month rise, Egypt18 May 2011, Published under Cement NewsEgypt’s National Cement posted a 21 per cent rise in nine-month profit to EGP257.2m (US$43m), the stock exchange said on Tuesday. The cement producer made a net profit of EGP212.4m in the same July-to-March period a year earlier. National Cement, majority controlled by state-owned Chemical Industries Holding Co., produces and trades cement, clinker and related construction materials. |
Kuwaiti Hilal Cement 1Q net profit rises, Kuwait17 May 2011, Published under Cement NewsKuwaiti cement producer Hilal Cement said in a bourse filing its net profit rose to KWD 390,310 (US$1.4m) for the first quarter of 2011 from KWD 199,966 a year earlier. The company reported earnings per share (EPS) of 6 fils, compared to 3 fils. The total assets stood at KWD21.6m at end-March 2011, slightly down from KWD22m a year ago. |
Buzzi Unicem reports first-quarter advances16 May 2011, Published under Cement NewsBuzzi Unicem has reported a favourable start to the year with first-quarter advances in volumes, turnover and EBITDA as milder winter weather boosts shipments. Turnover recovered by 23.9% EUR569.40m and the EBITDA more than trebled to EUR42.70m. The loss at the trading level was reduced by 54.7% to EUR 18.23m. Net financial costs came down by 16.4% to EUR28.02m, leading to a 37.1% reduction in the seasonal pre-tax loss to EUR 46.73m. Net debt at the end of March was 2.2% higher at EUR1294.... |
Misr Beni Suef net profit falls, Egypt16 May 2011, Published under Cement NewsEgypt’s Misr Beni Suef Cement has reported a 37.3% fall in first-quarter net profit to EGP66.5m (US$11.68m), Reuters has reported. The company had made a net profit of EGP106.1m in the same quarter of 2010. |
Eurocement likely to hold IPO, Russia16 May 2011, Published under Cement NewsEurocement Group, owned by Filaret Galchev, is likely to hold an IPO late 2011 or early 2012, Reuters reported quoting sources at investment banks and in the cement market. The company plans to place up to 20% of its authourised capital at the IPO, according to Reuters. Lead-managers and the exchange haven’t been chosen yet, but it’s likely to be the London exchange, says Reuters. It is known to Kommersant’s sources in an investment bank and one of cement compaies that Filaret Galchev’s com... |
Taihieyo’s full-year net turnaround, Japan16 May 2011, Published under Cement NewsTaiheiyo Cement Corp improved net loss from JPY37bn to a profit of JPY5.2bn (US$64m) on revenue down 0.3% to JPY726.5bn for the year to March 31, 2011. Operating profit increased from JPY3.6bn to JPY16.4bn and ordinary profit rose from JPY148m to JPY8.1bn. Earnings per share was JPY5.5 per share. An annual dividend of JPY2.5 per share was declared, up from no dividend last year. |