Cement News tagged under: corporate
Brazil’s BRC to file for public company registration21 April 2011, Published under Cement NewsBrazilian cement project BRC Cimentos plans to file for a public company registration in the next 30 days, Chairman Felício Rosa Valarelli Jr said Wednesday. The company has set up an office in New York, defined the coordinators of its initial public offering and is now working on the prospectus to be presented to the market. BRC will offer 40- 50% of the company’s shares in the IPO and proceeds will be used to finance the construction of four plants as well as the purchase of new limeston... |
Peru’s Cementos Lima 1Q2011 net income soars21 April 2011, Published under Cement NewsPeru’s biggest cement producer, Cementos Lima SA, posted 1Q2011 net income of PEN70.58m (US$25.21m), compared with PEN55.44m (US$19.6m) in the same quarter in the previous year. The increase was due mainly to higher cement sales which rose on house-building and private sector demand, as well as good business management, the company said. Revenue totalled PEN279.16m, compared with PEN259.49m in the same period a year earlier. The company said cement production in the first quarter was 828,... |
Tien Son Ha Tay to pay dividend, Vietnam20 April 2011, Published under Cement NewsVietnamese cement producer, Tien Son Ha Tay Cement JSC (TSM), will pay a cash dividend of VND2,000/share for 2010. The payment will be made May 26, the Vietnam Securities Depository said on its website. In 2010, TSM netted a profit of VND7.75bn (US$0.4m) on revenues of VND107.37bn compared to VND9.22bn and VND102.35bn (US$4.91m) in 2009, respectively. |
Lafarge Malayan Cement down 3.3% on Singapore tax news20 April 2011, Published under Cement NewsLafarge Malayan Cement is down 3.3% at MYR7.13, underperforming the broader market. A local dealer saying the stock is under some selling pressure after the company says the Income Tax Board of Review of Singapore has dismissed an appeal by its wholly-owned unit LMCB Holdings against additional tax assessments from Singapore’s Inland Revenue Authority. Lafarge says it has "strong grounds" to file an appeal to the High Court but "in the event the final decision is not favourable...the total... |
Lafarge Shui On profits down, China20 April 2011, Published under Cement NewsLafarge Shui On Cement Limited, a joint venture between Lafarge and Shui On Construction and Materials Limited (SOCAM), in 2010 achieved HKD105m (US$13.5m) in profits attributable to shareholders, down 66.34% YoY. According to SOCAM’s annual report, the poor performance of Lafarge Shui On Cement resulted from the rising cost and stiffer competition in major markets. Lately, the CEO of SOCAM disclosed that the Hong Kong-listed company has the plan to withdraw from Lafarge Shui On Cement gra... |
Trinidad Cement requests more time to complete financials20 April 2011, Published under Cement NewsTrinidad Cement Ltd (TCL) has applied to the T&T Stock Exchange for an extension of the 90-day time limit for submission of its 2010 financial statements and that of its subsidiary, Readymix (West Indies) Ltd. TCL and Readymix missed the March 31 deadline to submit their 2010 financial results. In a statement issued on Friday, TCL said that “an extension until April 30th 2011 has been requested in the first instance.” In explaining why the cement producing company missed its deadline, the ... |
Qatar National Cement Co 1Q net profit up, exceeds estimates20 April 2011, Published under Cement NewsQatar National Cement Company Tuesday announced a net profit of QAR113.7m for the first quarter ended March 31, up two per cent YoY. Sales revenue fell 8.6% in 1Q11 compared to 1Q10 and gross margins increased to 44.8% in 1Q11 compared to 35.7% in corresponding period last year The first-quarter results exceed Global Investment House’s (GIH) expectations, mainly because of better cost control measures adopted by the company whereby they were able to increase their margins to 44.8% in 1Q11 c... |
Pretoria Portland Cement warns of profit slump, South Africa20 April 2011, Published under Cement NewsSouth Africa’s leading cement producer, Pretoria Portland Cement (PPC) advised on Wednesday that its earnings per share and headline earnings per share for the six months ended March 2011 are expected to be between 35 and 40 per cent lower compared to the previous corresponding period. The company said the decrease was mainly attributable to the negative impact of a challenging business environment on sales volumes, selling prices and input costs across all its operations. The compan... |
Composition of Garadagh board to be reviewed, Azerbaijan19 April 2011, Published under Cement NewsThe composition of Garadagh Cement’s Supervisory Board will be reviewed at an annual general shareholders meeting. In particular, the replacement of supervisory board member Tim Zurun with Kamran Abbasov will be considered at a meeting in Baku on June 8. |
Ashaka sees significant rise in profit, Nigeria19 April 2011, Published under Cement NewsAshaka Cement plc, a Nigeria-based cement maker, has announced a significant 218 per cent increase in its profit after tax to NGN3bn (US$19.4m) in 2010, from NGN944m. The growth in profit-after-tax did not however reflect the drag in the company’s sales figures, which grew by 11.4 per cent to NGN19.15bn from NGN17.19bn. There was however a significant improvement in the company’s key performance indices. |