Cement News tagged under: corporate
Egypt’s Alex Cement Q1 rises 53 per cent21 May 2007, Published under Cement NewsEgypt’s Alexandria Cement made net profit of 37.61 million Egyptian pounds ($6.61 million) in the first quarter of 2007, 53 percent up on the same quarter of 2006, the stock exchange said on Sunday. Net profits in the January-March quarter of 2006 were 24.65 million pounds. Both profit figures were quoted before minority interest, the exchange said in a statement. (US$1 = 5.69 Egyptian pounds) |
Porthold’s future uncertain21 May 2007, Published under Cement NewsThe future of Portland Holdings Zimbabwe (Porthold) hangs in the balance, with its fate scheduled for decision in July after the unbundling of its South African based holding company, Pretoria Portland Cement (PPC) from the Barloworld Group. In the presentation of its results, the PPC continued to ringfence Porthold from its group’s financial results, saying Porthold’s management had lost effective control of the business. Porthold, owned 100% by PPC, whose unbundling is geared to make way... |
Mexican Cemex says 21 per cent of Australian Rinker shareholders accepted offer18 May 2007, Published under Cement NewsMexican Cemex announced that 21.23 per cent of Australian Rinker’s shareholders had accepted its offer, that totals US$12bn. The percentage raised from 15.76 per cent after Perpetual Investments, Rinker’s largest shareholder, said that it would back the bid and to sell its 10.5 per cnet stake after Cemex included in its offer of 15.85 dollars a share a 25 Australian cents a share dividend. It’s worth to mention that Cemex extended the offer to June 8th and will accept the purchase... |
Cimpor Q1 net falls 15 per cent17 May 2007, Published under Cement NewsCimpor Portugal said net profit fell 15 per cent to €67m in the first quarter to March from € 78.8m a year earlier, in line with analysts forecasts for €66-70m. In a statement, Cimpor said the fall in net profit is ’entirely explained’ by a one time gain of €14.7m booked in the first quarter of last year from the sale of a stake in Cementos Lemona. EBITDA increased 1.6 per cent to €140.8m ’In spite of the depreciation of almost all currencies against the euro and the substantial incr... |
Monarch Cement: Q1 cash flow turns negative17 May 2007, Published under Cement NewsCash Flow from operations for The Monarch Cement Company for its first quarter ended March 31, 2007 was a negative $1,343,315, compared with a positive cash flow from operations of $1,466,673 for the comparable year earlier quarter. Prior to this negative quarter Monarch Cement had generated seven consecutive quarters of positive Cash Flow from Operations. |
Dalmia Cement Q4 net up 15 per cent17 May 2007, Published under Cement NewsDalmia Cement (Bharat) Ltd has reported a 170 per cent growth in net profit for the year ended March 2007. The company has posted a profit of Rs. 228.93 crore for 2006-07 as against Rs 84.85 crore for the previous year. The company reported a net profit of Rs 61.81 crore (Rs 53.53 crore) for the quarter ended March 2007, a rise of 15 per cent, a press release of the Dalmia Cement issued here on Wednesday said. The gross sales of the company rose by 87.14 per cent at Rs 343.34 crore (Rs 183.4... |
Shree Cement: higher prices help17 May 2007, Published under Cement NewsShree Cement, like other players in the Indian cement sector, reported an improved performance in the March 2007 quarter, aided by higher cement prices and improved despatches (reports The Business Standard). As a result, operating profit grew 110 per cent y-o-y in Q4 FY07 on a net sales growth of 67 per cent. Its operating profit margin also improved 930 basis points YoY to 45.3 per cent in the last quarter. Shree Cement’s despatches were at 1.26 million tonnes in Q4 FY07 compared with ... |
Shiva Cement enters mktng alliance with ACC17 May 2007, Published under Cement NewsShiva Cement Ltd today said it has offloaded 12 per cent shares and entered into a marketing alliance with ACC Ltd. As a part of the agreement, ACC is going to invest Rs 46 crore in Shiva Cement through conversion of equity and warrants, the company said in a statement. The funds generated through the conversion would be utilized to expand production capacity to 500,000tpa from the present 130,000tpa. The company would also expand its clinkering capacity to augment its cement production,... |
Orascom acquires stake in Algeria’s Samba17 May 2007, Published under Cement NewsOrascom Construction Industries announced that it has acquired a 60% stake in Samba SPA, the largest aggregates producer in Algeria, for a total sum of US$8 million. Samba owns and operates a crushed stone quarry which is located in Blida, only 40km from the capital Algiers. Samba controls a total of 60 million tonnes of crushed stone reserves and has a quarrying capacity of approximately 1Mt of aggregates per year. OCI intends to increase the production capacity of their existing plant ... |
Shree Cement FY07 net down15 May 2007, Published under Cement NewsShree Cement Ltd has reported a net profit of Rs 177 crore for the financial year to March 31, 2007 compared with Rs 18.4 crore during the previous fiscal. Operating profit for the year zoomed 181% to Rs 632.87 crore as against Rs 225.18 crore in the corresponding period in 2005-06. The turnover was Rs 1,367.98 crore as against Rs 669.39 crore during the year-ago period. The net profit for the year was impacted owing to additional depreciation of Rs 199.47 crore on account of change in its... |