Cement News tagged under: corporate
Lucky Cement profits remain stagnant, Pakistan19 April 2011, Published under Cement NewsLucky Cement’s net profit fell 3.4 per cent to PKR2.47bn (US$29.2m) in the first nine months of fiscal 2011 on the back of lower sales. The second largest cement-maker in the country shifted its focus to the local market from the export market during the period under review. Lucky Cement managed to increase local sales by 12 per cent at a time when industry sales declined by eight per cent. The company’s local market share increased to 15.5 per cent from 13.8 per cent in the first nine mon... |
Egypt’s Alex Cement approves US$0.3/share dividend19 April 2011, Published under Cement NewsEgypt’s Alexandria Cement approved an EGP1.73 (US$0.3) per share cash dividend, the firm said in a statement released by the stock exchange on Tuesday. The firm, a subsidiary of Titan Cement, posted a 17.3 per cent rise in 2010 net profit to EGP590.9m. |
DSE listing body declines MI Cement listing again18 April 2011, Published under Cement NewsThe listing committee of Dhaka Stock Exchange (DSE) Sunday once again rejected the listing proposal of Bangladesh cement producer, MI Cement, sources said. The committee says it will convey its decision to the board of DSE which will take the final decision on the issue. The board is scheduled to hold its meeting very soon. According to sources, MI Cement applied to the DSE seeking permission to be listed with the bourse offering compensation to its primary shareholders if the prices f... |
Hai Van Cement JSC targets pretax profit, Vietnam18 April 2011, Published under Cement NewsHai Van Cement JSC (HVX), listed on the Hochiminh Stock Exchange, targets a pretax profit of between VND11bn (US$0.5m) and VND11.5bn this year. Its revenues are set to reach VND540bn (US$25.71m) this year, the firm said in a statement sent to the bourse. The company projects to pay a dividend equivalent to VND350/share. In 2010, HVX made a pretax profit of VND10.67bn on revenues of VND447.01bn. It will pay a dividend of VND320/share. |
Tian An gets nod for Allied Cement spin-off, China18 April 2011, Published under Cement NewsAllied Cement will become a holding company of the cement Group, the subject of the proposed spin-off, which comprises certain existing subsidiaries of Tian An China and is engaged principally in the manufacture, sale and trading of cement and clinker in Shanghaiand Shandong province. Tian An China intends to maintain not more than about 75% equity interest in Allied Cement. The net cash proceeds from the spin-off will provide Allied Cement additional funding to repay shareholder’s loan and... |
Steppe Cement 1Q sales rise, Kazakhstan18 April 2011, Published under Cement NewsSteppe Cement Limited announced Monday for the first quarter of 2011, it sold 187,404t of cement compared to 177,391t of cement in the first quarter of 2010. The total market in Kazakhstan during 1Q, 2011 was similar to the same quarter last year. Steppe Cement maintained its market share at 21% with additional volumes achieved through exports. Average price for the current quarter for delivered cement was KZT9,188/t (excluding VAT) as compared with KZT 7835/t in 2010, an increase of 17%.... |
Tabuk and Eastern Province opposing results, Saudi Arabia18 April 2011, Published under Cement NewsTabuk Cement and Eastern Province Cement Company reported mixed results in their net profits, with reasons ranging from higher demand to higher labour cost. Tabuk Cement said net profits rose to SAR41.22m (US$11m) for the first three months, up 21% against SAR34m last year and up 73% against the previous quarter. Operating profits for the period reached SAR42.95m against SAR34.7m last year, up 24%, with earnings per share rising to SAR0.46 against SAR 0.38. “The reason for the increase in... |
Jidong Cement earnings rise almost 50%, China18 April 2011, Published under Cement NewsTangshan Jidong Cement posted a 40.88 per cent YoY rise in 2010 net profit to CNY1.4bn (US$214m), according to a company filing. Earnings per share increased 40.95 percent to CNY1.15. Sales revenue rose 58.29 per cent YoY to CNY11.06bn. The company plans to distribute cash dividends of CNY0.5 (including tax) for every 10 shares held. The cement producer predicts that it will incur a loss of between CNY9m and CNY13.5m in the first quarter. Jidong plans to issue CNY2.5bn worth of corporate... |
Attock Cement nine-month profit seen rising 65%, Pakistan15 April 2011, Published under Cement NewsAttock Cement Pakistan Ltd (ACPL) is scheduled to announce its financial result for 9MFY11 on April 19, 2011. The company is likely to post QoQ profitability growth of 65% to PKR228m (US$2.7m) in 3QFY11, mainly on account of 7% growth in average retention prices coupled with a 2% QoQ improvement in the sales. According to analysts at Arif Habib Ltd, despite the massive expected recovery in the profitability of 3QFY11, the company is likely to suffer a bottom line contraction of 53% YoY t... |
Holcim posts slower profit hike after blackouts cut output15 April 2011, Published under Cement NewsHolcim Philippines, Inc. grew profits by a slower pace in 2010 after plant operations in Mindanao were hit by a power shortage, the company said in a financial report released yesterday. The local arm of the Swiss-based cement giant posted a 23% increase in net income attributable to equity holders to PHP3.835bn last year versus the 142% surge it enjoyed in 2009. "In 2010, deficiency in power generation in the [Mindanao] grid was brought about by the drought in the country," Holcim Philipp... |