Cement News tagged under: corporate
Mangalam Cement net declines 19.78% in Sep 200820 October 2008, Published under Cement NewsMangalam Cement announced a drop in standalone net profit for the quarter ended September 2008. During the quarter, the profit of the company declined 19.78% to Rs 223m from Rs 278.02m in the same quarter previous year. Net sales increased marginally 5.51% to Rs 1,408.37m, while total income for the quarter rose 9.40% to Rs 1,475.41 million, when compared with the prior year period. The company reported earnings of Rs 7.9 a share during the quarter, registering 19.79% decline over prior yea... |
UltraTech 2Q net profit falls 12%20 October 2008, Published under Cement NewsIndian cement maker UltraTech Cement Ltd said net profit for the fiscal second quarter fell 12% from a year earlier, hurt by a sharp increase in prices of coal and other raw materials. The company forecast weaker demand for cement due to a slowdown in the real estate and infrastructure sector. Net profit for the three months ended Sept. 30 dropped to INR1.64bn from INR1.86bn a year earlier, the company said in a statement issued Saturday. "A sharp increase in prices of coal and raw materi... |
JK Lakshmi Cement’s net declines20 October 2008, Published under Cement NewsJK Lakshmi Cement today announced a standalone net profit of Rs 26.88 crore for the second quarter of the current fiscal, a 63.42 per cent decline over the corresponding period a year ago. The company had a standalone net profit of Rs 73.50 crore in the September quarter last financial year, JK Lakshmi Cement said in a filing to the Bombay Stock Exchange. The standalone total income of the company rose to Rs 293.75 crore in the latest quarter, from Rs 267.79 crore in a year-ago period. Th... |
Ash Grove seeks anti-trust clearance to increase Eagle stake17 October 2008, Published under Cement NewsEagle Materials Inc said Thursday that Ash Grove Cement Co has filed a notice seeking anti-trust clearance to increase its stake in the company. Ash Grove notified Eagle Materials that it has a "good faith intention" to purchase in excess of US$63.1m of Eagle common stock, including shares already held, according to a filing with the Securities and Exchange Commission. Ash Grove previously filed in August that it had acquired about 5% of Eagle’s outstanding shares, for a purchase price of ... |
Chettinad Cement Q2 net dips 32 per cent17 October 2008, Published under Cement NewsCement manufacturer, Chettinad Cement Corporation on Thursday registered a net profit of Rs 34.18 crore for the second quarter ended September 30, a decline of 32.66 per cent over the corresponding period a year ago. The company had a net profit of Rs 50.76 crore for the second quarter ended September 30, 2007, Chettinad Cement said in a filing to the Bombay Stock Exchange. Total income of the company rose to Rs 283.79 crore for the quarter under review, from Rs 234.99 crore in the same pe... |
Sinai Cement may double capital to E£700m17 October 2008, Published under Cement NewsSinai Cement, an Egyptian cement producer, plans to double its capital to E£700m (US$125m) by distributing 35m free shares. The company will distribute the free shares for every share held by investors, the Cairo-based company said in a statement posted on the Web site of the Egyptian Exchange today. A general assembly will be held on Nov. 15 to approve the measure, the company said. |
Anhui Conch says China cement prices to fall in 200916 October 2008, Published under Cement NewsAnhui Conch Cement Co, China’s biggest maker of the building material, said prices will decrease early next year on cooling demand for new property and infrastructure in some regions. The shares fell by the most in more than seven years. The slump in China’s property market may cause the company to be more ``cautious’’ in planning future expansion, Board Secretary Zhang Mingjing said today. The company will go through with already-planned investments and banks are continuing to extend funds... |
Tabuk Cement net profit down to US$37.8m Jan-Sep 200815 October 2008, Published under Cement NewsThe net profit of Saudi cement producer Tabuk Cement Company (TCC) fell to SAR 142.3m (US$ 37.8m) in the first nine months of 2008 from SAR174.4m in the same period last year, the company said in a filing to the Saudi stock exchange on October 11. TCC attributed the decrease to lower sales but did not give exact figures. The earnings per share (EPS) stood at SAR1.58 for January to September 2008, down from SAR1.94 a year ago. The company reported a 21.2% year-on-year decline in the operat... |
HeidelbergCement’s Bosnian unit 1H net profit rises 88% YoY15 October 2008, Published under Cement NewsTvornica Cementa Kakanj (TCK), a Bosnian cement factory owned by Heidelberg Cement, reported a first-half net profit of 28.54 million marka (US$20m), up from 15.19 million marka a year earlier, as revenue rose faster than costs, the company said. No company officials were available for comment on Tuesday. TCK said earlier its 2007 net profit soared 118% to 35.48 million marka due to increased sales and higher cement price. TCK’ assets totalled 232.6 million marka at the end of June, up fro... |
Ethiopia: EIB lends EUR 29m for Derba Midroc Cement Factory15 October 2008, Published under Cement NewsDerba Midroc Cement company (DMC) in Ethiopia has benefited from a EUR 29m loan from the European Investment Bank (EIB). The loan to this private sector company will help to build and operate a 2.1Mt cement factory, an adjacent limestone quarry and other related infrastructure in the area. The project will contribute to Ethiopia’s economic growth and the reduction of unemployment in the country. The DMC cement plant is located in Derba, about 70 km South of Addis Ababa, a region with limite... |