Cement News tagged under: corporate
India Cements to issue 40M shares to Visaka shareholders27 July 2007, Published under Cement NewsIndia Cements Ltd will issue 40,000,000 equity shares to Visaka Cement Industry Ltd shareholders for the companies amalgamation. India Cements’ issued capital will increase from Rs.220.37 crore to Rs.260.37 crore. |
Exane-BNP marks Titan down27 July 2007, Published under Cement NewsTitan reported H107 sales down 1% to EUR757.3m and EBITDA up 3% to EUR221.8m. Net income increased from EUR120.4m to EUR126.1m, 7% below consensus expectations of EUR134.8m. The lower results are due to the continuing US housing slowdown, a weaker second quarter in Greece following a strong Q1, and the one-off negative effect of the temporary shut down of Titan’s Egyptian plant. However south-eastern Europe (Bulgaria, Serbia, FYROM) performance was very strong. Visibility in the US is low ... |
Indocement 1H Net Profit IDR360.15B Vs IDR342.98B26 July 2007, Published under Cement NewsPT Indocement Tunggal Prakarsa (INTP.JK) booked IDR360.15bn in net profit during the first half of the year, up 5% from IDR342.98bn in the same period last year, it said Thursday. First-half revenue inched up 3.1% to IDR3.16 trillion from IDR3.06 trillion a year before, as cement demand at its main market of Java remained weak, Indocement said. Its first-half results were not audited, it said. Cement sales volume rose 6% to 6.5 million metric tons for the January-June period ... |
Thailand’s Siam Cement Q2 net profit up25 July 2007, Published under Cement NewsSiam Cement, said Wednesday its net profit in the second quarter rose 16 per cent from a year earlier due largely to share divestments. However, the industrial giant said a 14 per cent drop in operating earnings to THB6.36bn (US$189m) during the quarter reflected the impact of a slowing economy and a strong Thai baht, which hits exports. Net profit increased to THB8.8bn (US$262m) in the three months to June, while sales were flat at THB63.6bn, the company said in a statement. ... |
GCC Reports Second Quarter 2007 Results25 July 2007, Published under Cement NewsGrupo Cementos de Chihuahua (GCC), announced consolidated results for the quarter ended June 30, 2007. Solid growth in GCC’s cement and concrete markets and the integration of concrete operations in the U.S. contributed to the double-digit increase in the Company’s revenues. In addition, lower cost of sales and SG&A on a percentage basis generated higher margins at the operating and EBITDA levels. Net Sales increased 14.2% in the second quarter of 2007 and totaled $2,189.5 millio... |
Serbian Lafarge BFC net profit up to EUR21.5m 200624 July 2007, Published under Cement NewsSerbian cement producer Lafarge BFC net profit increased to 1.7bn Serbian dinars (US$27.3m) in 2006, from 713m dinars (US$11.5m) in 2005, according to the company’s statement to the Belgrade Stock Echange. Lafarge BFC generated a total revenue of 7.56bn dinars (US$121.5m) in 2006. In 2006, the company reported an operating revenue of 6.9bn dinars (US$110.8m) on operating costs of 5.2bn dinars (US$84.4m). Lafarge BFC also generated a financial revenue of 368.5m (US$5.9m), as w... |
India Ultratech To Borrow INR17B Through FY0923 July 2007, Published under Cement NewsIndia’s Ultratech Cement Ltd said it plans to borrow around INR17bn through March 31, 2009, to expand capacity and build a captive power plant. "Of this, INR10bn will be borrowed in this fiscal year and the balance in the next financial year," KC Birla, President and Chief Financial Officer of Ultratech Cement told reporters on the sidelines of the company’s annual general body meeting. Birla said the company is examining various options including overseas loans, non-convertible ... |
Mangalam Cement net jumps 38%23 July 2007, Published under Cement NewsMangalam Cement, a part of the B K Birla Group, has posted a 37.6 per cent growth in net profit at Rs 25.89 crore for the June quarter compared with Rs 18.81 crore in the corresponding quarter a year ago. Net sales grew 17 per cent to Rs 132.32 crore (Rs 113.13 crore). Better realisation and higher sales helped the company put up a good quarterly show, which till recently was a sick company. The operating profit for the period rose 50 per cent to Rs 45.6 crore (Rs 30.43 crore). Earning... |
Cemex expects to increase US sales after purchase of Australia’s Rinker Group23 July 2007, Published under Cement NewsCemex says it is looking to increase its U.S. sales on the back of its recent purchase of the Australian Rinker Group. "Rinker will enhance our position as one of the world’s largest building materials companies, reduce our cash flow volatility and improve our capital structure," Hector Medina, Cemex’s executive vice-president of planning and finance, remarked to AP during a conference call Friday. Medina said he expected US cement volume to grow for the whole year in the "mid-single-digi... |
Cemex disappoints JP Morgan analysts20 July 2007, Published under Cement NewsReviewing Cemex’s Q2 results, JPM analysts note that although the EBITDA is in-line with expectations, earnings are disappointing due to a loss on a financial instrument. Secondly, US profitability has deteriorated at the same rate in Q2 as in Q1, despite the weaker comparative period in Q2-06. One should also note tha the US has increased to 41% of Cemex’s pro-forma 2006 EBITDA. Q2 EBITDA and EBITA figures are as expected says JPM. Cemex reported a Q2 EBITDA of US$1134m, which was US$14m a... |