Cement News tagged under: corporate
Steppe Cement 3Q Revenue up 11% YoY30 October 2009, Published under Cement NewsSteppe Cement Limited said Friday that for the third quarter ended September 30, it achieved a revenue of KZT3.08bn (US$20.5m) – 11% higher than the corresponding quarter in 2008. For the nine months ended September 30, Steppe Cement Ltd recorded revenue of KZT6,964m compared to KZT9080m in the corresponding nine month period in 2008, representing a 23% decline. Sales volume of 286,896t was achieved during the third quarter, a 35% increase over the third quarter of 2008. For the first ni... |
Colombian InverArgos to sell stake In Cementos Argos30 October 2009, Published under Cement NewsColombian holding company Inversiones Argos SA said late Wednesday it is evaluating the possibility of selling a minority stake in its cement maker Cementos Argos SA InverArgos hired four investment banks Bancolombia SA, Citigroup Corp, JPMorgan Chase Co and Banco Santander SA to evaluate the market situation and seek potential buyers for between 5% and 9.73% in Cementos Argos, the country’s largest cement maker, the company said in a filing to the Colombian market regulator. "The proceed... |
Eastern Province Cement 9M review29 October 2009, Published under Cement NewsEastern Province Cement Company has announced its 9M-2009 results. Net profits witnessed a decline of 16.4% YoY in 9M-2009 to SR300.6m while revenues declined by 6.9% YoY to SR586.2mn in 9M-2009. The net profit for 9M-2009 is in-line with Global Investment House (GIH) forecasts of SR306.0mn, a deviation of approximately 2.0%. On a quarterly basis, the company registered earnings of SR100.6mn (SR1.17EPS) in 3Q2009 which is up 60.4%YoY but down 2.4% QoQ. Revenues are up 27.1% YoY but down ... |
ACC 3Q Consolidated Net Profit INR4.16bn29 October 2009, Published under Cement NewsIndia’s largest cement maker by capacity, said Wednesday its third quarter consolidated net profit jumped 60% as power and fuel costs fell. Consolidated net profit for the quarter ended Sept. 30 rose to INR4.16 billion from INR2.60 billion, the company said in a statement to the Bombay Stock Exchange. Consolidated net sales increased 9.3% to INR20.77 billion from INR19.00 billion. The earnings beat market estimates. Eleven analysts in a Dow Jones Newswires poll had on average expected net... |
Nigeria’s Benue Cement says Q3 profit up 171%29 October 2009, Published under Cement NewsNigeria’s Benue Cement Company posted a 171 per cent rise in pretax profit to NGN12.96bn (US$87m) in the third quarter to September 30, the company said on Wednesday. Gross earnings at the firm, controlled by local private conglomerate Dangote Group, soared to NGN27.22bn from NGN9.81bn in the same period of 2008, the company said in a filing to the Nigerian Stock Exchange. |
Gresik nine-Month net profit down29 October 2009, Published under Cement NewsPT Semen Gresik said Thursday its nine-month net profit rose 35% to IDR2.41 trillion ($251 million) from IDR1.79 trillion a year earlier because of increased revenue. Revenue for the January-to-September period rose 18% to IDR10.4 trillion from IDR8.8 trillion by the end of September a year earlier. |
Siam Cement Group optimistic about 4Q29 October 2009, Published under Cement NewsSiam Cement Group (SCG), the country’s largest industrial conglomerate, is hopeful of a better fourth quarter when some of its businesses should turn around and resume their upward trend. In an article in the Bangkok Post, President and CEO Kan Trakulhoon said revenue in the next quarter would be pressured by the petrochemical business, which accounts for almost 40% for the group’s revenue, because global prices have slumped and the spread margin has narrowed. But cement and construction, ... |
DG Khan cement reverts to profit, Pakistan29 October 2009, Published under Cement NewsDG Khan Cement Ltd., Pakistan’s second-biggest producer of the building material, returned to a profit in the first-quarter as borrowing costs declined. Net income was 630.3m rupees (US$7.5m), or 2 rupees a share, in the three months ended Sept. 30, compared with a loss of 223m rupees , or 0.88 rupees, a year earlier, the Lahore-based company said in a statement to the Karachi Stock Exchange today. Sales rose to 4.76bn rupees from 4.4bn rupees . The decline in financial costs ove... |
PPC sees FY headline EPS 35-45 per cent lower28 October 2009, Published under Cement NewsPretoria Portland Cement (PPC) said on Wednesday it expects to post a drop in full-year profit, mainly due to a one-off charge. PPC said headline earnings per share for the year to end-September were expected to be between 35-45 percent lower, and earnings per share down between 20-30 percent. The South African cement company said earnings had been hit by a one-off charge relating to a black economic empowerment deal. South Africa’s government is driving a black economic empowerment progr... |
Binani Cement in talks to acquire Turkish company28 October 2009, Published under Cement NewsBinani Cement is in talks to acquire a cement firm in Turkey as part of its strategy to more than double its production capacity by two years, reports the Economic Times of India A source privy to the development said the deal is likely to be sealed by March next year. He, however, declined to disclose the identity of the overseas firm. The source, who requested anonymity, said the Binani board last week approved the foreign acquisition which would be financed equally by internal accruals ... |