Cement News tagged under: corporate
ACC net profit down on high input costs27 April 2011, Published under Cement NewsEscalating input costs saw ACC report a drop of 11 per cent in its consolidated net profit for the first quarter ended March 2011 at INR350.17 crore against INR392.88 crore in the year-ago period. This is despite an improvement in volumes at 6.16Mt (5.58Mt in the year ago period) during the quarter. Turnover was up at INR2556.21 crore against INR2240.33 crore while the profit before tax was lower at INR481.21 crore against INR563.58 crore. According to a company statement, while its opera... |
Thai Siam Cement 1Q group net up 34%27 April 2011, Published under Cement NewsSiam Cement Pcl (SCC), Thailand’s biggest industrial conglomerate, posted a 34 per cent rise in quarterly net profit on Wednesday, thanks to improved performances led by its petrochemical business. Siam Cement reported a January-March net profit of THB9.21bn (US$307m), or THB7.67/share, up from THB6.86bn a year earlier. |
Japanese cement firms seen moving into black in FY1027 April 2011, Published under Cement NewsTaiheiyo Cement Corp and Sumitomo Osaka Cement Coo are expected to report group net profits for the year ended 31 March 2011, overcoming year-earlier losses by streamlining domestic operations. Taiheiyo Cement apparently logged a net profit of JPY4bn (US$49m), recovering from the JPY37bn loss of fiscal 2009 and coming nearly in line with a previous forecast. Sales fell slightly to around JPY700bn but still beat the target. Operating profit tripled to JPY11bn, exceeding the firm’s forecast o... |
Cimpor announces dividend27 April 2011, Published under Cement NewsPortuguese cement major Cimpor says it will distribute the gross dividend of EUR0.20 per share from May 6. After tax, Cimpor shareholders will receive a premium of EUR0.16 euros, the company said in a statement. |
Oman Cement Co net profit falls on price pressures27 April 2011, Published under Cement NewsOman Cement Company reported net profit of OMR4.2m (US$10.9m) in 1Q11 compared to OMR7.1m previously. Profits were down due to depressed selling prices as well as losses reported by the company on their investment in equity markets. Cement selling prices were lower by 16.4% to OMR26.2/t during the quarter compared to OMR31.3/ton in 1Q10. This double-digit decline in cement prices resulted in gross margins falling to 36.9% in 1Q11 as against 45.1% in 1Q10. Sales volume were down 1.6% to 0.4... |
Raysut first-quarter net profit falls27 April 2011, Published under Cement NewsOman-based cement producer Raysut Cement Company reported net profit of OMR5m (US$13m) in 1Q11 compared to OMR6.8m previously. The fall in profit was attributed to depressed selling prices along with losses reported by the company on their investments. Global Investment House’s (GIH) initial estimates stood correct as it expected that most of the financials would get diluted post-consolidation of Pioneer Cement. The handsome margins enjoyed by the company earlier dropped to 43% in 1Q11 com... |
Binani Cement reports quarterly rise, to hive off power division26 April 2011, Published under Cement NewsIndian producer, Binani Cement, reported a rise in standalone net profit for the quarter ended March 2011 to INR581.5m (US$13m) from INR169.00m in the same quarter last year. Net sales for the quarter for the quarter rose 10.88% to INR5,453.7m, while total income for the quarter rose 9.90% to INR5,488m, when compared with the prior year period. It posted earnings of INR2.97/share during the quarter, 3.58 times higher than the same period a year ago. Meanwhile, the company has approved in p... |
Al-Rajhi Cement to issue bonds26 April 2011, Published under Cement NewsDubai-based Al-Rajhi Cement Holding said the company has issued JOD85m (US$119m) Islamic bonds for its unit in Jordan which are being managed and arranged by Capital Investments. A premier investment bank based in Jordan, Capital Investments, said the seven-year sukuk was subscribed for by a number of leading Islamic and commercial banks. These include Capital Bank, Cairo Amman Bank, Islamic International Arab Bank, Union Bank, Jordan Kuwait Bank, Bank of Jordan, and Arab Islamic Bank, sai... |
Malaysia’s Tasek Corp reports 16% YoY rise26 April 2011, Published under Cement NewsMalaysian cement producer, Tasek Corp has reported a 16% YoY rise in 1Q11 net profit at MYR23.4m (US$7.8m). "The improved Group results was mainly attributable to better margin resulting from lower cost of production and cement price adjustment in May 2010," the company said. It added that higher interest income and higher contribution from share of associates’ profits also contributed to the better performance during the reporting quarter. The company also says, the "market for cement and... |
Sinoma Science & Technology profit falls, China26 April 2011, Published under Cement NewsSinoma Science & Technology reported a 28.37 per cent YoY decrease in net profit to CNY26.31m in the first quarter of 2011, reports Shanghai Securities News, citing a company filing. Sales revenue fell 1.73 per cent to CNY470m, with earnings per share (EPS) of CNY0.13, down 45.83 per cent. The Nanjing-based company attributed profit slump to lower product prices. |