Cement News tagged under: corporate
Daiwa cuts West China Cement to underperform02 March 2011, Published under Cement NewsDaiwa downgrades West China Cement to Underperform from Buy, on the back of the announcement that Asia Gain, a major shareholder of West China Cement and wholly owned by West China Cement’s chairman Zhang Jimin, pledged 303 million West China Cement shares (7.13% of its total issued shares) for a US$30m loan from Credit Suisse on Feb. 24. |
Votorantim to invest US$3bn in 201102 March 2011, Published under Cement NewsBrazilian industrial conglomerate Grupo Votorantim plans to invest BRL5bn (US$3bn) in its operations in 2011, the group said Tuesday in a press release. By comparison, last year the group invested BRL5.8bn. In 2010, Grupo Votorantim posted a net profit of BRL4.9bn, up from BRL4.7bn in 2009. Net revenue was up slightly, to BRL29.5bn from BRL29.2bn. Family-owned Grupo Votorantim has operations in cement and concrete, mining and metallurgy, pulp and paper, concentrated orange juice, chemical... |
Cementos Portland profit slumps by 95% YoY in 201001 March 2011, Published under Cement NewsSpanish cement producer Cementos Portland Valderrivas posted today a EUR1.2m profit for 2010, down by 95% on the year. The revenue came in at EUR 886.7 million, down by 14.4% on the year. EBITDA declined by 24% to EUR 219.7 million due to lower demand. Cementos Portland reduced its net debt by 9.3% to EUR1.288bn. Abstracted from an original article in Expansion (Cementos Portland reduce su beneficio un 95%). |
Banif sees Cimpor profit down 6% YoY in 201001 March 2011, Published under Cement NewsBanif estimates Portuguese cement producer Cimpor to have closed 2010 with a 6% YoY decline in net profit to EUR223m (USD 308.6m). Rises in financial costs and taxes are seen to have penalised the earnings of the company. The revenue, however, is projected up 8% on the year to EUR2.24bn in 2010. The investment bank calculates Cimpor’s earnings before interest, tax, depreciation and amortisation (EBITDA) at EUR 624m, up 3%. Banif does not forecast the 2010 results to drive the shares. The... |
Cementos Molins net profit declines 1.9% in 201001 March 2011, Published under Cement NewsSpanish cement company Cementos Molins posted a consolidated net profit of EUR 65 million in 2010, down 1.9% YoY. The turnover rose by 21.8% to EUR 808.7m, Cementos Molins said in a filing with the national stock market regulator CNMV. EBITDA came in at EUR166m, up 2.4%. |
Cementos Argos net profit rises01 March 2011, Published under Cement NewsCementos Argos SA, Colombia’s largest cement company, posted a consolidated net profit of COP288.8bn (US$156m) in 2010, a 37.7% increase in peso terms from a year earlier. The company attributed the increase to one-time revenue from the sale of its stake in investment holding group Grupo de Inversiones Suramericana SA (GIVSY) to its parent company. Cementos Argos’ consolidated operating income for 2010 stood at COP3trn, a 12.4% decrease from a year earlier. Consolidated income includes the... |
TPI Polene announces THB0.15/share dividend28 February 2011, Published under Cement NewsTPI Polene PCL, Thailand’s third largest cement maker by capacity, Monday said it plans to pay a dividend of THB0.15 a share for last year’s performance. The dividend is scheduled to be paid on May 20 to shareholders on record as of March 16, the company said in a statement to the Stock Exchange of Thailand. The dividend payment is subject to approval from a shareholders’ meeting on April 29. |
India Cements December net falls by 38%?28 February 2011, Published under Cement NewsIndia Cements reported a steep drop in standalone net profit for the quarter ended December 2010. During the quarter, the profit of the company declined 38.30% to INR 214.70m from INR 348.00m in the same quarter last year. The company’s net sales for the quarter declined 9.62% to INR 7810m, while total income for the quarter fell 9.18% to INR 7848.20m, when compared with the prior year period. |
Yamama Cement approves US$0.53/share dividend for 2H1027 February 2011, Published under Cement NewsSaudi cement producer Yamama Cement Company said its general shareholders’ meeting approved yesterday the board’s proposal for a cash dividend of SAR2 (US$0.53) per share for the second half of 2010. The total dividend for 2010 will thus reach SAR4 per share, as the company has already paid a dividend of SAR2 per share for the first half of 2010. YCC registered a 17% YoY rise in its net profit for 2010 to SAR657m from SAR562m in 2009. |
Suez Cement 2010 profit falls 4.9 per cent25 February 2011, Published under Cement NewsEgypt’s Suez Cement posted a 4.9 per cent decline in 2010 net profit to E£1.2bn (US$209.9m), the stock exchange said on Thursday. Suez Cement posted E£1.3bn of net profit in 2009. The firm, Egypt’s largest listed cement maker by market value, is a subsidiary of Italcementi. |