Cement News tagged under: corporate
TTD114m loss in 2009 for Carib Cement04 March 2010, Published under Cement NewsCaribbean Cement Company is reporting that it suffered a TTD$144m loss for its 2009 financial year. This was a reversal from the TTD$416mnet profit earned in 2008. The cement manufacturer says the loss for the year was primarily due to the contraction in the Jamaican economy. It resulted in the domestic market for cement declining by about eight per cent over the previous year. The decline in the domestic market and the loss of sales due to tariff-free imported cement resulted in Carib C... |
Cimpor: strong growth in Egypt contrasts with Iberian decline04 March 2010, Published under Cement NewsCimpor’s turnover was virtually unchanged last year at €2,085.5m, with a marginal decrease of 0.2% as the increased scope of consolidation and the strength of the Egyptian cement demand offset the weaknesses in the Spanish, Portuguese and Turkish markets. Improved overall margins led to the EBITDA increasing by 3.3% to €605.9m. Although the trading profit declined by 15.7% to €376.9m, a 53.1% reduction in the net financial charge led to a 21.5% increase in the pre-tax profit to €313.8m. A... |
Holcim hit by falling volumes and prices04 March 2010, Published under Cement NewsHolcim’s turnover in 2009 declined by 16.0% to SFr21,132m (€13,995m), which on a comparative basis represents a10.0% reduction. The operating EBITDA was down slightly less, by 13.2% to SFr4,630m (€3,066m). The trading profit fell by 17.2% to SFr2,781m (€1,842m), while the net attributable profit emerged 17.2% lower at SFr1,471m (€974m). The proceeds from the sale of emission rights amounted to S.Fr.90m, compared with S.Fr.34m in 2008. A similar amount of emission rights are likely to be ... |
Portland profit up by 200%, Kenya02 March 2010, Published under Cement NewsEast African Portland Cement has reported a 200 per cent rise in pre-tax profit in its half year ending December 31, 2009. This can mainly be attributed to increased activities in the construction industry especially the roads segment. From a loss of Sh489 million in its half year earnings for 2008, the firm rallied on the rising demand for cement to post Sh434 million in the half year of 2009. Following the commissioning of a new plant, Portland’s capacity increased in the period under r... |
GCC full year results, Mexico02 March 2010, Published under Cement NewsGrupo Cementos de Chihuahua (GCC) of Mexico today announced its consolidated results for the quarter ended December 31, 2009. Net Sales in the fourth quarter of 2009 totalled $2,099.3 million pesos, compared to $2,480.5 million pesos in 2008. This decrease was the result of lower sales in the United States and Mexico. In the United States, sales in peso totalled $1,101.0 million pesos, a lower figure than in the fourth quarter of 2008. There was a more favorable price environment for cemen... |
Pakistan cement sector’s profitability falls 90%02 March 2010, Published under Cement NewsThe profitability of Pakistan’s cement sector plunged 90 per cent YoY during the first half (July-December) of FY10 primarily on account of lower retention prices, despite an estimated rise of 13 per cent YoY in sales. The sample including 14 out of the listed 21 cement companies, representing 80 per cent of the market capitalisation, revealed that companies with profits in both the periods (1HFY10 & 1HFY09) posted a decline of only 5.2 per cent YoY - suggesting a harder period for smaller ... |
Camargo Corrêa to issue promissory notes01 March 2010, Published under Cement NewsBrazilian construction group Camargo Corrêa will issue OMR$3bn (US$1.66bn) in promissory notes in a three-year debt program. Part of the issue is due in six months and will be used to finance a minority stake in Portuguese cement firm Cimpor. Fitch has assigned an F1 (bra) national scale short-term credit rating on the paper. "The issuance structure is supported by a guarantee comprised by a pool of shares of companies directly or indirectly related to Camargo. The guarantee would include... |
Saudi Cement plans 1-for-2 share issue, cash dividend01 March 2010, Published under Cement NewsSaudi Cement Company plans to issue one free share for each two held by investors and a cash dividend of 3.50 riyals ($0.93) for 2009, Saudi Arabia’’s second-largest producer said. ’’Company shares will increase from 102 million shares to 153 million shares by providing shareholders one free share for each two shares they currently own,’’ the firm said in a statement on the bourse website on Wednesday. The move, which will raise the company’’s capital to SR1.5 billion from SR1 billion, is ... |
Cementos Molins ’09 profit slips 38.5% YoY26 February 2010, Published under Cement NewsSpanish cement company Cementos Molins reported an attributable net profit of EUR 66.7m (US$90.1m) for 2009, down 38.5% on the year, the firm said in a filing with the national stock market watchdog CNMV yesterday. The fall was explained with the flagging demand, resulting from the crisis in the construction sector. Revenue also slipped by 17.5% YoY to EUR 663.9m. Sales on the national market accounted for 49% of the total. Domestic sales fell by 28%, while these on the international mar... |
Standard Chartered leads syndicate on Taiwan Cement loan26 February 2010, Published under Cement NewsStandard Chartered Bank (Taiwan) Ltd. said Thursday it led 15 other banks on a five-year US$500m syndicated loan signed Thursday with TCC International Ltd., a wholly owned unit of Taiwan Cement Corp. The Taiwan Cement group will use the funds to buy mainland China cement assets from a unit of London-listed Prosperity Minerals Holdings Ltd for HK$3.8bn (US$489.5 million). The purchase of the assets, announced in December, will significantly boost the Taiwan cement maker’s production capaci... |