Cement News tagged under: corporate
Peru’s Cementos Lima 4Q Net PEN56.6m Vs PEN41.5m24 January 2008, Published under Cement NewsCementos Lima SA posted fourth-quarter net income of CLP56.6m (US$19.2m), compared with PEN41.5m in the same quarter in the previous year, the company said Wednesday. Total revenues rose to PEN234.9m in the fourth quarter, compared with PEN200.4m in the same period a year earlier. |
Swicorp advises Arabian Cement in SR500m rights issue23 January 2008, Published under Cement NewsArabian Cement has successfully offered 10 million new shares at a price of SR50 per share through a rights issue exercise combined with an additional issue of 10 million bonus shares to shareholders on record (ratio of 1 new share for every six shares held). As a result, total proceeds of SR500m were raised and the paid-up capital increased from SR600m to SR800m. ’Advising industry leaders and market makers has been our business for generations, and we are delighted to have been a... |
Siam Cement likely to report flat 2007 net profit22 January 2008, Published under Cement NewsSiam Cement PCL is expected to report a flat 2007 net profit, with higher production costs and sluggish domestic demand offsetting one-time gains. Thailand’s largest industrial conglomerate by revenue is likely to post a net profit of THB29.66 billion ($893m) for 2007, virtually unchanged from THB29.45 billion in the previous year, according to the average forecast of eight analysts polled by Dow Jones Newswires. Siam Cement, whose core businesses are cement, chemical and paper, is... |
Saudi Cement’s Q4 profit up nine per cent22 January 2008, Published under Cement NewsSaudi Cement Co reported a nine per cent rise in fourth-quarter profit on higher productivity and sales. Saudi Cement made SAR168.5m (US$44.9m) in the three months to December 31 against SAR154.6m in the same period of 2006, the company said in a statement. "This increase in fourth-quarter profit is due to improvement of productivity ratios in both production and sales," it said. Kuwait-based Global Investment House has expected Saudi Cement to post SAR161.9m in the fourth qua... |
Qatari Gulf Cement to retain 2007 profit22 January 2008, Published under Cement NewsQatari Gulf Cement Company plans to retain its net profit of QAR32.3m (US$8.9m), according to preliminary figures for 2007, to fund capacity expansion projects, local media reported on January 20, 2008. In addition to a cement plant that is under construction, the company plans to open a factory for construction sand. It also intends to establish an investment and development firm and a company for commercial services. Gulf Cement is currently building production facilities in Doha... |
Production efficiency drives UltraTech profits up 32 per cent21 January 2008, Published under Cement NewsAditya Birla Group company UltraTech Cement today posted a 32 per cent rise in net profit at Rs 279 crore for the quarter ended December 31, 2007, against Rs 212 crore, on improved production efficiency. "Increase in variable cost per tonne was restricted to 4 per cent as a result of improved production efficiencies. This was despite higher energy costs by 9 per cent, primarily due to escalating coal prices," it said in a release here. Net sales stood at Rs 1,382 crore during the p... |
Gulf Cement net gains up to QR32.3m21 January 2008, Published under Cement NewsGulf Cement net gains up to QR32.3m Gulf Cement Company has reported a net profit of QR32.3m in 2007 and said it was proposing to convert itself into a holding entity for its cement, and the proposed sand, investment and trading companies. The company had reported a net profit of QR19.8mn since its inception on May 2006 to December 31, 2006. After its board meeting yesterday, the company also announced that it was shifting its net profits to the retained earnings since the company was exp... |
China’s Anhui Conch Cement sees 50 per cent growth in 2007 net profit21 January 2008, Published under Cement NewsAnhui Conch Cement Co Ltd said it expects its 2007 net profit to rise more than 50 per cent YoY on the back of strong sales. The company said the sales of cement and clinker by volume increased last year compared with the same period in 2006 - and product prices rose as well. Anhui Conch recorded a net profit of 1.43 bln yuan in 2006 and earnings per share of 1.14 yuan, under Chinese accounting standards. |
Lafarge adds Groupe Bruxelles Lambert, Sawiris representatives to board21 January 2008, Published under Cement NewsLafarge shareholders approved the nomination of representatives from its two largest shareholders to the French company’s board of directors. Shareholders approved board seats for Groupe Bruxelles Lambert executives Paul Desmarais Jr. and Thierry de Rudder to represent the Belgian holding company, which owns 17 per cent of Lafarge, and Nassef Sawiris, chief executive of Egyptian cement maker Orascom Cement. In December Lafarge agreed to buy Orascom for EUR8.8bn in cash and new stoc... |
Siam City 4Q07 earnings still weak, but 2007 to slightly improve18 January 2008, Published under Cement NewsSiam City Cement (SCCC) is expected to announce very weak 4Q07 earnings of just Bt575mn (EPS Bt2.5), down 22% QoQ and 11% YoY. These rather poor earnings will be due to negative growth in cement demand, higher energy costs and higher expenditures for the early retirement programme. Thai cement demand is expected to fall by 2% YoY in 4Q07 compared to a 6% YoY fall in 3Q07. This decrease is attributed to lower demand from the government sector and a general decline in residential housing and ... |