Cement News tagged under: corporate
Sub prime fears a growing concern for Cemex19 September 2007, Published under Cement NewsCemex, the world’s top building materials company by revenue and parent of Rugby Cement, yesterday forecast strong third-quarter revenues, but said sub prime worries had made the outlook for its main market in the US uncertain. The group said it was also said it was in talks with Irish aggregates and building materials group CRH to sell up to £2.2 billion in US and European assets. Cemex said it expected quarterly revenues to rise 29 per cent to above £3 billion, boosted by its £7 billion ... |
India: Raring Bull bets on Mangalam Cement18 September 2007, Published under Cement NewsThe Raring Bull is said to be accumulating shares of BK Birla group company Mangalam Cement. The stock is trading at a trailing price to earnings ratio of 6 and is considered to be among the relatively cheaper stocks in the sector. The shrewd investor seems to be betting that the market will rerate the stock sooner than later. The company has already announced that it is about to commission a captive power plant worth Rs 80 crore and analysts expect this to add Rs 35-40 crore to its FY08 n... |
Cemex shares fall as outlook For US outweighs asset sales18 September 2007, Published under Cement NewsShares of Mexican cement giant Cemex SAB (CX) fell Monday after the company’s guidance for its third-quarter performance confirmed weakness in its U.S. operations, although the planned sale of up to $4.5 billion in assets helped cushion the blow. Shares in the Monterrey-based company initially rose on the news, but then fell as the local stock market came under pressure from global credit concerns that have been worrying investors for weeks. Cemex CPO shares closed down 2.2% at 31.67 pesos ... |
Orascom Construction lifts Egypt’s Hermes index18 September 2007, Published under Cement NewsOrascom Construction Industries jumped to a record intraday high on Monday helped by institutional buying, lifting Egypt’s Hermes index to a fresh closing high. OCI gained 0.66 percent to end at 452 Egyptian pounds ($80.14) after touching 462 pounds during the session. Institutions were anticipating the company’s expansion plans would boost earnings, said Yasser Hassanein of Dynamic Securities. "There is room for the stock to go further upward," Hassanein said. "There is a good growth stor... |
West China Cement Limited - Interim Results18 September 2007, Published under Cement NewsWEST CHINA CEMENT LIMITED UNAUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2007 Financial Highlights • Group turnover for the first half of the year up by 46% to Rmb 201 million (June 2006: Rmb 138 million); Pucheng plant Rmb 152 million (June 2006: Rmb 138 million) and Lantian plant, which came into operation in Apr 2007, Rmb 49 million • Profit before tax up by 72% to Rmb 56 million (June 2006: Rmb32 million) • Other operating income of Rmb 12 million (... |
Block deal in Andhra Cement, stock up 6.4%18 September 2007, Published under Cement NewsAt 10:21 am, Andhra Cement is quoting at Rs 39, up Rs 2.35, or 6.41%. It has touched an intraday high of Rs 39.25 and an intraday low of Rs 32. There was a block deal of 62 lakh Andhra Cements shares on BSE at Rs 32/sh. It is trading with volumes of 6,591,840 shares, compared to its five-day average of 157,910 shares, an increase of 4,074.44%. Yesterday the share closed down 5.05% or Rs 1.95 at Rs 36.65. |
Holcim Indonesia shares lower after H1 net profit falls 96 per cent18 September 2007, Published under Cement NewsShares of PT Holcim Indonesia shares were lower in late morning trade Tuesday after the cement company reported that its first-half net profit plunged 96 percent to 5.76 billion rupiah due to costs from an employee separation scheme and forex losses. "I think investors were largely disappointed by the company’s bottomline," BNI Securities analyst Maxi Liesyaputra said. He said the company has significant amount of long-term dollar-denominated debt equivalent to 3.54 trillion rupiah. "The ... |
Buzzi FY sales seen rising six per cent to over €3.4 bln17 September 2007, Published under Cement NewsBuzzi Unicem SpA sales are expected to rise six per cent to more than €3.4 bln in 2007, according to a survey in the daily Il Sole 24 Ore. The daily estimates full-year EBITDA at 930m, which compares with 931 mln a year earlier, and that EBIT will be stable at €720 mln. However, net profit is predicted to rise to €370m from 350 mln last year, the daily said. |
Egypt’s National Cement says profit down 7.6 per cent17 September 2007, Published under Cement NewsEgypt’s National Cement’s profit in the year to end-June dropped 7.6 per cent to 280.9 million Egyptian pounds ($49.80 million), the stock exchange said on Sunday. It did not give a reason for the decline in profit or give further details. National Cement’s profit in the previous year was 303.9 million pounds. Shares in the company closed 3.6 percent down on Sunday at 39 pounds. ($1= 5.64 Egyptian pounds). |
Twiga Cement stops dividends, opts for $100m expansion17 September 2007, Published under Cement NewsIn what is emerging as a trend in Tanzania’s cement industry, Twiga Cement Company Ltd will not pay its shareholders interim dividends but instead divert funds to a $100 million expansion project. Twiga’s project aims to meet the increased cement demand, which has grown by about 16 per cent over the last six months. “The ongoing expansion project will require significant financial resources over the coming months, as well as in 2008 and 2009,” said Elieneza Amon, the firm’s company secreta... |