Cement News tagged under: corporate
India Cement Q2 net profit up 90%23 October 2007, Published under Cement NewsIndia Cements Ltd’s July-September net profit rose 90 per cent to Rs 222.65 crore compared with Rs 117.32 crore in the same quarter of the previous year. Total income for the September quarter increased by 52 per cent to Rs 896.09 crore, against Rs 591.50 crore in the same period year ago. However, the accounts for the quarter have been prepared after taking into account the transactions of Visaka Cement Industry Ltd and therefore not comparable with the corresponding figures of pr... |
Birla Plus turns UltraTech23 October 2007, Published under Cement NewsBirla Plus is now UltraTech cement. The Aditya Birla group on Monday announced rebranding of its cement business by bringing it under the UltraTech umbrella and creating the country’s largest cement brand with volumes of over 25Mta. The group also said it would increase its cement production capacity by almost 50% to 46Mta in the next one year as it seeks to increase sales and gain higher market share. The group had earlier rebranded L&T Cement as Ultratech after the takeover three year... |
Holcim hikes Ambuja stake to 40 per cent23 October 2007, Published under Cement NewsHolcim, the world’s second largest cement maker, has scaled up its shareholding in Ambuja Cements (ACL) by 3.15 per cent to nearly 40 per cent for Rs 714 crore through open market operations. In a series of block deals, the Swiss cement major purchased 4.8 crore shares, representing 3.15 per cent stake in the country’s third largest cement maker ACL, for an average cost of Rs 148.80 apiece. Sellers in the block deal include Notz Stucki Cie, a portfolio management services provider and Th... |
Rajhi Cement plans $595mn bond sale22 October 2007, Published under Cement NewsSaudi Arabia’s Al-Rajhi Cement Investment Co will sell $595 million of seven-year, Islamic bonds in the first quarter, a company executive said on Sunday. Al-Rajhi Cement, a subsidiary of the family-owned Al-Rajhi Group, will use the cash to fund cement projects in Jordan, Syria and Sudan, the executive, who declined to be identified said. The money will be invested in expansion Jordan, Syria and Sudan, the executive said. Saudi-owned investment bank Siraj Capital and Jordan-based Al-Aoun... |
Siam City Cement to continue downward from negative environment19 October 2007, Published under Cement NewsSiam City Cement (SCCC) is expected to announce a 3Q07 profit of Bt933mn (EPS Bt4.06), down 1% qoq and 6% yoy. Thai cement demand will remain down 4% yoy compared with a fall of 8% yoy in the second quarter and 6% in the first quarter. This decrease is attributed to lower demand from the government sector and a general decline in residential housing. Average domestic prices are expected to be stable from last quarter. With the low domestic demand, SCCC has focussed more on the export market.... |
Peru’s Cementos Lima 3Q Net PEN54.5m Vs PEN32.4m19 October 2007, Published under Cement NewsCementos Lima SA posted third-quarter net income of 54.5 million soles ($18.1 million) compared to PEN32.4 million in the same quarter a year ago, the company said late Wednesday. Total revenue rose to PEN227.3 million in the third quarter compared to PEN181.2 million in the same period a year earlier. |
Gulf Cement Company profit up to QR22mn19 October 2007, Published under Cement NewsGulf Cement Company has reported a net profit of QR22.25mn in the first nine months of this year mainly due to its income from short-term deposits, which contributed more than 95% to total revenues. The cement manufacturer’s earning per share was QR0.28 at the end of third quarter of this year, according to its financial statement. Its total income was QR28.11mn, comprising QR26.72mn of income from short term deposits; QR0.41mn worth dividend from Industries Qatar shares; QR0.74mn worth ga... |
JK Cement secures loan for Rs.1,000 crore cement plant18 October 2007, Published under Cement NewsJK Cement Ltd has secured a term loan to set up its Rs.1,000 crore grey cement plant in Karnataka. Subsidiary Jaykaycem Ltd will construct the cement plant with a Rs.525 crores term loan from IDBI Bank Ltd, with the company’s promoters contributing the Rs.475 crores balance. The project is scheduled to be completed by March 2009. |
Cypriot Mitica acquires five per cent stake in Titan Cement18 October 2007, Published under Cement NewsCypriot holding company Mitica has acquired a stake of about five per cent in Greece’s Titan Cement, sources close to the matter said to Thomson Financial News. The sources explained that Mitica was making a long-term investment in Titan to achieve a capital gain. A formal announcement on the acquisition of the share stake is expected soon, the sources added. |
Qatar National Cement records QR245mn gain18 October 2007, Published under Cement NewsQatar National Cement Company (QNCC) has reported 71% gains in net profit to QR244.94m during January-September this year on faster growth in sales and fresh income from associates. The cement manufacturer’s earnings-per-share was QR6.86 as of September 30, 2007 compared with QR4 in the year-ago period. QNCC yesterday gained 1.28% to QR126.40 on a volume of 30,879 shares in 53 transactions. Gross operating income was up 93% to QR207.21m in the review period as sales grew faster than costs ... |