Cement News tagged under: corporate
West China profits 69% higher23 July 2010, Published under Cement NewsWest China Cement reports that net profit for the four months ended 30 April 2010 were 69.9% higher at CNY154.3m (US$22.8m) and it is forecasting that the profit attributable to the shareholders will be not less than CNY307m for the six months to 30 June 2010. The company says that it plans to further expand its production capacity through acquisition of additional production facilities and construction of new production facilities. Management plan to construct two new production lines... |
Jaiprakash Associates reports 1Q growth, India23 July 2010, Published under Cement NewsJaiprakash Associates Limited (JAL) has announced growth in its first quarter FY11 numbers primarily led by good performance in cement and engineering businesses. Total revenue for the first quarter ended June 30, 2010 stood at INR 3214.47 crore registering a growth of 51.85%. Net profit for the same period stood at INR515.98 crore up 5.05% from INR491.18 crore in the same period last fiscal. EBITDA for the period stood at Rs 685.69 crore up 15.93%. EBITDA and net profit margins for the pe... |
CRISIL gives AA+ to Shree Cement’s NCDs22 July 2010, Published under Cement NewsIndian credit rating agency CRISIL gave yesterday a rating of AA+ with a "stable" outlook to the INR2bn (USD42m/EUR33m) non-convertible debentures (NCDs) of local Shree Cement Ltd. In addition, the agency kept at AA+ with a "stable" outlook the rating on the company’s INR3bn NCDs. CRISIL believes that Shree’s debt protection metrics will remain strong over the medium-term, backed by its strong operating profitability and liquidity, and established market position. The agency may revise t... |
Votorantim boots stake in Cimpor22 July 2010, Published under Cement NewsBrazil’s cement maker Votorantim Cimentos said it had bought a further 3.93% of Portuguese peer Cimpor for EUR5.85 (US$8.02) per share, or total of EUR154.45m. |
Prosperity Minerals gets share buy-back underway22 July 2010, Published under Cement NewsProsperity Minerals Holdings Ltd has been engaged in on-market share buy-backs, purchasing over UK£1m of its own equity over the past two days. On Tuesday July 20th, the company bought 171,000 shares at 150p each, and then yesterday it bought 500,000 shares at 160p. The company pledged to conduct a share buy-back programme, to return value to shareholders following its significant £300m asset sale earlier this year. In April the company sold most of its cement business to TCC International ... |
Emkay maintains ‘buy on Century Plyboards, India22 July 2010, Published under Cement NewsEmkay has recommended ’Buy’ on Century Plyboards (India) with a price target of Rs 80 as against the market price (CMP) of Rs 62 in its report dated July 21, 2010. The broking house gave the following conference call investment rationale: “Century Plyboards (CPL) Q1FY11 numbers ahead of expectations- overall EBITDA at INR716.3m (+8.7% YoY) higher than estimates (INR614m), led by better than expected profitability of cement and power division.” |
CRISIL assigns grade 3/5 to OCL India22 July 2010, Published under Cement NewsCredit rating agency, CRISIL Equities has assigned a CRISIL IER fundamental grade of `3/5` to OCL India (OCL). The grade indicates that the company`s fundamentals are good relative to other listed equity securities in India. CRISIL Equities has assigned a valuation grade of 5/5, indicating that there is a strong upside from the current market price of Rs 126 (as on July 21, 2010). Our one-year fair value of the stock is Rs 197. The grades are not a recommendation to buy, sell or hold the... |
Shree Cement plans to raise INR2B via bonds, India21 July 2010, Published under Cement NewsShree Cement Ltd plans to raise INR2bn through bonds, a person familiar with the matter said Tuesday. The cement producer plans to sell five-year bonds paying a yield of 8.42% at par, the person told Dow Jones Newswires, but asked not to be named. The planned bond has a rating of AA+ by Crisil as well as Care Ratings, the person added. |
Egypt’s Suez Cement 1H profit US$134m21 July 2010, Published under Cement NewsEgypt’s Suez Cement group said on Wednesday it posted net profit of E£766m in the first half of 2010, unchanged from the same period last year Reuters reported. Suez, the country’s largest listed cement maker by market value and a unit of the Italcementi group, reported a 4.8 per cent increase in net sales to E£3.4bn. The figures include all companies in the Suez group, which includes Helwan Cement and Torah Portland Cement, among others. |
Qassim net profit falls, Saudi Arabia19 July 2010, Published under Cement NewsQassim Cement Company announced its 2Q-2010 results. Net profits witnessed a decrease of 8.4%YoY in 2Q-2010 to SR135.8mn as sales revenue decreased by 8.7% YoY to SR255.5m in 2Q-2010. Sales volume declined by 8.5%YoY to 1.11mn tons in 2Q-2010 as unlisted players Riyad, Najran, Madina and Western Cement increased their total local dispatches by 61.2%YoY to 2.41Mt in 2Q-2010 absorbing 77.2% of the total growth in industry local dispatches during 2Q-2010 compared to the corresponding quarter ... |