Cement News tagged under: corporate
Taiwan Cement Corp’s sales up 44.84% in February16 March 2009, Published under Cement NewsTaiwan Cement Corp, Taiwan’s largest cement producer, posted NT$2.64bn (US$75.86m) in consolidated Feb. sales, up 44.84% YoY and up 10.74% from the previous month. The company said it scored NT$1.65bn (US$47.41m) in sales in Taiwan alone in February, representing a 6.74% year-on-year growth. Taiwan Cement attributed the strong sales growth to the addition of three production lines to total nine in China and the substantial growth in sales in the southern China market. Huang Chien-chiang, ... |
Egypt’s Sinai Cement 2008 net profit up 21 per cent16 March 2009, Published under Cement NewsEgypt’s Sinai Cement posted a 21 per cent rise in net profit for 2008 to E£414.1m (US$72.7m), the company said in a statement to the stock exchange on Sunday. |
Indonesia’s Gresik says 2008 net profit up about 40%16 March 2009, Published under Cement NewsIndonesia’s largest cement firm, PT Semen Gresik , on Monday said net profit rose about 40 per cent to IDR2.5trn (US$208.8m) in 2008 from IDR1.78trn in 2007. The state-controlled company also said sales climbed to IDR12.2trn in 2008, from IDR9.6trn in the previous year. |
China’s Huaxin plans share placement16 March 2009, Published under Cement NewsChina’s Huaxin Cement said it plans to raise up to CNY4bn(US$585m) through a private placement of domestically listed A shares. Huaxin said it will issue up to 200 million shares to as many as 10 current shareholders at no less than CNY20.73 each, compared with Friday’s closing price of 22.73 yuan. The capital raising will help fund domestic cement projects, which will require an estimated CNY5.27bn in investment. Huaxin said the expansion plan, which will increase its annual production ... |
Cemex rises most in three months13 March 2009, Published under Cement NewsCemex rose the most in three months and call options jumped on speculation its creditor banks will refinance the company’s debt to avoid pushing it into default. “An agreement with the banks is the most likely outcome,” Patricio Rivera, an analyst with the Mexico City-based brokerage Grupo Financiero IXE, said in an interview. “If you let the company default, the process of collecting could be longer and it could add costs that could be avoided with a fair refinancing transaction.” Cemex’s... |
Holcim Indonesia books record net profit12 March 2009, Published under Cement NewsPT Holcim Indonesia Tbk, the country’s third-largest cement producer, on Wednesday announced that it had achieved a record profit in 2008 due to stronger sales in the first half of the year and a significant drop in fuel costs in the second half. Holcim booked a net profit of IDR282bn (US$23.69m) last year, up 67 per cent from IDR169.41bn in 2007, supported by a 28 per cent increase in sales over the same period to IDR4.8trn from IDR3.75trn. “The cement industry in general, including Holci... |
Semapa 2008 profit drops 12.8%11 March 2009, Published under Cement NewsPortuguese holding firm Semapa yesterday posted a consolidated net attributable profit of EUR106.3m for 2008, a 12.8% fall compared with 2007. EBITDA dropped 17.7% to EUR356.2m and recurrent EBITDA dived 16.4% to EUR339.7m. The EBITDA margin fell to 30.1% from 24.7% and the recurring EBITDA margin shrank to 23.6% from 28.3%. Semapa’s consolidated sales edged up by 0.4% to EUR 1.442bn. Net debt amounted to EUR1.086bn, expanding 22.3%, mainly because of the group’s ongoing capital expendit... |
Southern Province 2008 net profit up 12.4% YoY11 March 2009, Published under Cement NewsSaudi cement producer Southern Province Cement (SPC) managed to boost its net profit to SAR791.1m (US$210.9m) in 2008 from SAR703.9m in 2007, or an increase of 12.4% YoY, the company said in a filing to the Saudi Stock Exchange. SPC attributed the increase to higher sales and other income but did not give exact figures. The earnings per share (EPS) stood at SAR 5.65, up from SAR 5.03. The company reported a 4.3% year-on-year decline in the operating profit to SAR720.9min 2008. |
Huaxin Cement profits up 58% in 2008, China11 March 2009, Published under Cement NewsHuaxin Cement Co, in which Holcim holds a 39.88 per cent stake, posted a 58 per cent jump in net profits in 2008, boosted by increased sales. Its net profits rose to CNY460m (US$67.25m) last year, on sales of CNY6.34bn, up 33 per cent from a year earlier, the company said in its earnings report on Wednesday. The Shanghai-listed company sold 27.88Mt of cement in 2008, up 20 per cent from a year earlier. Huaxin aims to sell 33.59Mt of cement this year while sales revenue is expected to incr... |
Fitch cuts debt ratings of Cemex11 March 2009, Published under Cement NewsCemex’s credit ratings were cut five levels by Standard & Poor’s and three levels by Fitch Ratings a day after the company shelved a bond sale and said it was pursuing debt renegotiation with banks, reports Bloomberg News. The company’s long-term global rating was lowered to B-, or six levels below investment grade, from BB+ by S&P. Fitch cut Cemex’s foreign- and local-debt ratings to B, or five levels below investment grade, from BB. Both S&P and Fitch said they may lower the rating furthe... |