Cement News tagged under: corporate
Indonesia: Nomura bullish on cement02 May 2011, Published under Cement NewsNomura has initiated its coverage of the Indonesian cement sector with Buy ratings on Semen Gresik and Holcim Indonesia, and a Neutral on Indocement. Analysts at the bank see the cement sector as a key beneficiary of Indonesia’s infrastructure development, which will drive volume growth, while near-term selling prices are set to increase. Over the next three years, Nomura expects the three listed cement companies to increase their capacity by a combined 23% from the current capacity of 46M... |
HeidelbergCement India net profit falls 35%02 May 2011, Published under Cement NewsHeidelbergCement India has announced the financial results for the quarter ended March 31, 2011. The company’s net profit for the quarter declined by 35% to INR25.99 crore against INR40.25 crore over the same period a year earlier. The company reported net sales / income from operations of INR271.80 crore for the against INR267.85 crore for the quarter ended March 31, 2010. |
Cemex sales increase highlights market improvement02 May 2011, Published under Cement NewsCemex has reported mixed first quarter results. Sales beat expectations but the net income amounted to a loss of US$276m for the quarter, versus a loss of US$342m in the same period a year earlier, and free cash flow was negative on higher financial expenses. Cemex’ first quarter turnover advanced by 11.2%, or an underlying 9%, to US$3,384.1m and the EBITDA edged ahead by 0.7% to US$518.2m. The trading profit, however, recovered by 16.1% to US$172.3m after the 50.3% drop a year ago. After n... |
Texas Industries: new appointments29 April 2011, Published under Cement NewsTexas Industries Inc said it appointed Jamie Rogers as Vice President and Chief Operating Officer and he would report to Mel Brekhus, President and Chief Executive Officer. Rogers previously served as Vice President - Consumer Products for the company, and has been with TXI since 1996. In conjunction with this reorganization, Rogers would lead a team of executives who are responsible for each of the company’s operational units. The team includes Lynn Davis, who would continue as Vice Presid... |
Thai cement stocks set for gains?29 April 2011, Published under Cement NewsThai stocks may see some short-term gains as investors selectively buy shares during the reporting season but quick profit-taking could limit any strong rise, analysts said. On Thursday, the benchmark SET index dropped 0.82 per cent to 1,092.31 as investors sold recent gainers, including Siam Cement which had risen after it released better-than-expected quarterly earnings. "The possible good quarterly results of big sectors such as energy and petrochemicals will help support the marke... |
Orient’s Cement Division performing well29 April 2011, Published under Cement NewsIndian conglomerate Orient Paper &Industries saw net profits climb toRs 775 million (+41% yoy) led by higher cement prices & other income. Revenues at Rs 6.96 billion (+27%), Cement (+22%) , Electricals (+35%) & Paper (+24%). Cement revenues grew 22% yoy to Rs 3.34 billion as realizations improved 29% yoy and 15.6% qoq led by price hikes in Orient’s key markets of AP and Maharashtra. Increasing costs remain a key concern however, as domestic coal price hike yet to reflect in P&F costs. I... |
Saint Gobain starts year well29 April 2011, Published under Cement NewsSaint Gobain’s first quarter volumes were ahead by 7.6%, having fallen by 1.7% in the same period last year, while prices improved by an average 2.0%. Allowing for exchange rate effects, turnover improved by 12.2% to €9,799m. Glass and high performance materials raised turnover by 13.9% to €1,359m and by 12.9% to €1,040m respectively. In construction products, interior materials such as insulation and plasterboard were helped by higher insulation standards and did better than exterior ... |
Dangote Group may list consolidated arm in November28 April 2011, Published under Cement NewsShould the bid to consolidate its cement production subsidiaries continue as planned, Dangote Group will list the emergent company (Dangote Cement Plc) on the Nigerian Stock Exchange (NSE) on November 5. Shareholders of both Dangote Cement and sister company- Benue Cement Company, are scheduled to meet in Kano on September 28, for a meeting ordered by the Federal High Court, Lagos, to consider and “if thought fit,” approve the merger bid. The new entity is expected to significantly boost t... |
Asia Cement net profit surges28 April 2011, Published under Cement NewsAsia Cement announced that net profit surged 274% YoY to CNY253m (US$40m) revenue rose 74% to CNY1.65bn. "The strong revenue growth was attributable to the production commencement of its new plants at Sichuan, Jiangxi, Hubei and Wuhan, as well as a significant increase in the average selling price of its products," says South China Research. The house adds, looking ahead, the group will speed up the construction of its new production capacities in Jiangxi as well as actively seek acquisi... |
Regulator directs bourses to list MI Cement, Bangladesh27 April 2011, Published under Cement NewsThe stock market regulator yesterday directed twin bourses to list MI Cement Factory Ltd on their trading boards, a move that ends a stalemate over the listing of the cement maker. The Securities and Exchange Commission issued a circular after a meeting on the MI Cement issue, said an SEC official. “The bourses will have to list MI Cement immediately after fulfilment of the conditions that the company proposed, and agreed by the regulator as well as the bourses,” the official said. Earlie... |