Cement News tagged under: corporate
Shree Cement: 3Q sales up 35 per cent21 January 2010, Published under Cement NewsIndia’s Shree Cement Ltd Thursday posted a 35% rise in its fiscal third-quarter, and said that the growth was helped by higher cement prices and lower fuel costs. The cement manufacturer reported a net profit of INR1.67bn during the October-December quarter, up from INR1.24bn a year earlier. Net sales rose 30% to INR8.66bn in the quarter, compared with INR6.64bn in the year-earlier period, Shree Cement said in a statement. "The cement price realisations were up 5% during the quarter over ... |
Southern Cement’s Q4 net profit up by 2.4%20 January 2010, Published under Cement NewsSouthern Province Cement Co, Saudi Arabia’s largest cement maker by market value, said its fourth quarter profits rose by 2.4 percent due to increased sales and lower costs. Southern Cement made a net profit of US$48.27m in the three months to end December, up from SAR177m in the same period a year earlier, it said in a statement on the Saudi bourse website on Tuesday. In a statement, the firm said: "The reason behind the increased net profit for the fourth quarter is due to increased sale... |
JK Lakshmi Cement net profit dips20 January 2010, Published under Cement NewsJK Lakshmi Cement Ltd has announced the financial results for the quarter ended on 31 December 2009. Net sales stood at Rs.353.24 crores for quarter ended on 31 December 2009 against Rs.297.35 crores for the quarter ended on 31 December 2008. The net profit/(loss) was Rs.45.35 crores for the quarter ended on 31-December-2009 against Rs.56.04 crores for the quarter ended on 31-December-2008. The company has reported an EPS of Rs.3.71 for the quarter ended on 31-December-2009 against Rs.4.5... |
Cemex juggles debt but US still a worry20 January 2010, Published under Cement NewsCemex is showing itself adept at tapping markets to extend maturities on its hefty debt but investors are worried about cash generation at a time when the U.S. construction market shows little sign of life. Shares in Cemex have fallen six per cent in Mexico City since the start of the year despite modest gains in the IPC index . Its shares are down 17 per cent since October, according to Reuters data. Investors applauded Cemex’s surprise decision to reopen its 2016 bond last week and sell ... |
Union Cement’s profit falls 64%, Abu Dhabi20 January 2010, Published under Cement NewsUnion Cement Co, one of the UAE’s largest producers, yesterday reported annual profit fell by 64 per cent in 2009 compared to the previous year, indicating the continued effect of the downturn in the construction sector. UCC’s annual profit reached Dh57 million on the back of Dh700 million in revenue compared to the Dh1.1 billion revenue figure recorded in 2008. At the time of going to press, the company had not released its full earnings. Through the first nine months, UCC had reported a ... |
Saudi Cement Co reports 10.5% rise in Q4 profit20 January 2010, Published under Cement NewsSaudi Cement said its fourth quarter profit rose by 10.5 per cent. Saudi Cement Co, the country’s second-largest producer, said on Wednesday its fourth-quarter profit rose by 10.5 per cent due to increased sales. Saudi Cement made a net profit of SR145.5m in the three months to December 31 compared to SR131.7m in the same period the previous year. "The reason behind the rise in net profit for the fourth-quarter compared to the year before is due to the relative increase in sales ... whic... |
Qassim Cement Company - Full year 2009 results20 January 2010, Published under Cement NewsQassim Cement Company has announced its full-year 2009 results. Net profits witnessed an increase of 17.7 per cent YoY in 2009 to SR607.9m (US$162.08m) while revenues increased by 20.3 per cent YoY in 2009 to SR986.5m (US$283.03m). On a quarterly basis, the company registered earnings of SR179.4m in 4Q09 which is up 96.9 per cent YoY and up 39.4 per cent QoQ. Revenues are SR237.4m in 4Q09 which is up 43.6 per cent YoY and up 4.7 per cent QoQ. Qassim Cement sales revenues increased in 2009 d... |
Dangote pays loan ahead of schedule19 January 2010, Published under Cement NewsThe Dangote Group of Nigeria has liquidated a US$1.2bn loan facility it took from a consortium of 10 Nigerian banks in May 2008 to finance its cement division expansion project. President of Dangote Group Aliko Dangote gave cheques to the banks yesterday to mark the final repayment. Speaking at its new cement facility in Ibese, Ogun State, Dangote said the company decided to liquidate the loan five and a half years ahead of schedule in line with its vision and strategy to consolidate its a... |
Egypt’s al-Arabiya Cement finds another investor19 January 2010, Published under Cement NewsEgypt’s al-Arabiya al-Wataniya for Cement has found another investor to take a stake as it seeks capital to build a cement plant in the south of Egypt. Egypt’s Misr Cement Qena said in a statement to the stock exchange on Monday it had agreed in principle to take a 10 per cent stake in the new cement company. Misr Cement Qena was waiting for completion of legal procedures for al-Arabiya’s capital to be increased before finalising the transaction, it said. "The board has agreed to take a U... |
Jurong Cement turns down YTL offer19 January 2010, Published under Cement NewsThe board of Jurong Cement has turned down a proposal by YTL Cement Singapore to acquire a portion of its business. This is because Holcim Investments (Singapore), which controls more than 55 per cent of Jurong Cement, has rejected the offer. In a letter to Jurong Cement made public yesterday, Holcim Investments said YTL Cement’s proposal would mean stripping the cement plant and terminal assets, and leaving behind the residual ready-mixed concrete and dry-mix mortar assets of the company.... |