Cement News tagged under: corporate
Anhui Conch Cement’s 1Q net profit up 179%09 May 2011, Published under Cement NewsAnhui Conch Cement Co Ltd, the biggest cement producer in Asia by output, announced Monday that its net profit surged 179.69% YoY in the first quarter of this year, driven by rising cement prices. The company said in a statement that the net profit for the first three months of this year, based on Chinese accounting rules, was CNY2.22bn, up from CNY792.3m in the same period of last year. Basic earnings per share were CNY0.63 during the period. The company’s operating revenue jumped 53% ye... |
Lucky Cement plans overseas acquisition09 May 2011, Published under Cement NewsPakistan producer, Lucky Cement, is planning to acquire a plant abroad and is also weighing potential options for organic growth (given the amount of free cash flows available). One of the preferred destinations could be Sri Lanka. This was disclosed by the management of Lucky Cement in the analysts briefing sponsored by Arif Habib Limited (AHL). Lucky is also attractive given the fact that it is one of the premier dividend payers in the cement industry. The signing of an agreement with H... |
Ha Tien 1 posts first-quarter loss, Vietnam09 May 2011, Published under Cement NewsHa Tien 1 Cement Joint Stock Company (HT1), listed in the Hochiminh Stock Exchange, said it incurred a loss of VND56.06bn (US$2.67m) in the first quarter of this year compared to a net profit of VND23.76bn in first quarter of last year. Revenues jumped 87.2% on year to VND1.205 trillion during Jan-Mar, HT1 said in its quarterly financial report. Its financial costs reached VND240.43 billion during the period, which was attributed to the loss. In 2011, the cement producer targets a pretax p... |
International Finance Corporation to invest in Caspi Cement09 May 2011, Published under Cement NewsInternational Finance Corporation (IFC), is planning to invest in a greenfield integrated cement facility on the Caspian Sea region in Western Kazakhstan being build by HeidelbergCement AG. The project is being build under the name Caspi Cement Limited Liability Partnership (CCLLP) with a planned investment of EUR198m and will have a capacity of up to 0.8Mta of cement. IFC plans a direct equity investment of up to EUR25 million and quasi-equity facility of up to EUR20m in CCLLP. IFC will a... |
China Shanshui Cement: Plan To Sell Global Bond07 May 2011, Published under Cement NewsChina Shanshui Cement Group Co. Ltd. (0691.HK) plans to sell a global dollar bond after holding a roadshow through May 17, a person familiar with the proposed deal said Monday. The China-based cement producer will meet bond investors in Hong Kong Wednesday, Singapore Thursday, London Friday and New York May 16 before wrapping up in Boston May 17, the person said. China Shanshui announced the planned Rule 144A/ Reg S offering in a statement to the Hong Kong stock exchange Monday, adding tha... |
MI Cement to make debut on Sunday, Bangladesh06 May 2011, Published under Cement NewsThe Chittagong Stock Exchange (CSE) Thursday gave listing permission to Bangladesh cement producer, MI Cement, in compliance with a directive from the regulator. Recently, capital market watchdog, the Securities And Exchange Commission (SEC) gave a directive to the DSE and CSE to enlist MI Cement to protect the investor’s interest. Following the directive CSE secretariat decided that MI Cement will start trade from Sunday. |
Angel Broking neutral on UltraTech Cement06 May 2011, Published under Cement NewsAngel Broking has maintained neutral rating on UltraTech Cement (ULTC), in its May 4, 2011 research report. “UltraTech Cement (ULTC) posted robust 127.9% QoQ growth in bottom line to INR727 crore for 4QFY2011, aided by ~13.5% growth in dispatches coupled with a 7.7% improvement in realisation. The company’s domestic dispatches for the quarter stood at 10.37mn tonnes. Further, the bottom line during the quarter was boosted by one-off INR115 crore of tax reversal during the quarter. We remain... |
Dangote profit rises, Nigeria06 May 2011, Published under Cement NewsDangote Cement Plc has announced its results for the first quarter ended March 31, 2011 with turnover at NGN54.51bn (U$$35.5m) compared to NGN49.87bn in 2010. According to a statement by the company on Thursday, the unaudited interim financial report approved by the Nigerian Stock Exchange (NSE), showed that gross profit rose from NGN26.73bn to NGN28.83bn in the review period. Its operating profit also increased from NGN25.29bn to NGN27.36bn, while profit before tax (PBT) stood at NGN27.90... |
Holcim holders approve dividend, two new deputy chairmen06 May 2011, Published under Cement NewsHolcim Ltd Thursday approved the company’s annual dividend of CHF1.50 (EUR1.18) per registered share and the appointment two new deputy chairmen. The 1,279 shareholders at the company’s annual general meeting in also elected Alexander Gut to the company’s board. Gut, managing director of Gut Corporate Finance AG, has been a board member at Adecco SA since 2010. Andreas von Planta, current deputy chairman, stepped down from the board due to other commitments. Holcim elected two new deputy ... |
Titan posts 1Q loss, sees challenging year ahead06 May 2011, Published under Cement NewsGreece’s Titan Cement posted a first-quarter net loss as construction activity declined and the euro slumped. Titan reported a EUR4.3m net loss compared with a year-earlier profit of EUR24.8m, the company said in a statement. Sales fell 12 per cent to EUR252.9 m. Depreciation of the euro in the first quarter resulted in a EUR14m exchange-rate loss, according to the statement. “2011 will be another challenging year,” the company said in the statement. “In Greece, measures taken to improve... |