Cement News tagged under: corporate
Lower interest expenses to boost 1Q07 normalised profit20 April 2007, Published under Cement NewsTPI Polene (TPIPL) is expected to announced 1Q07 normalised profit of Bt364mn, up 45% qoq and 126% yoy. Earnings growth will be driven by lower interest expenses that fell to just Bt112m, down 67% YoY as TPIPL increased capital last year in order to repay debt. Note that accrued default interest payable is amortised at around Bt60-80mn per quarter. In addition the consolidation of the nitrate business with sales of around Bt200mn per quarter and a high margin of 35-38%, has also helped to ... |
PT Semen Gresik’s 1Q sales up 11.6%17 April 2007, Published under Cement NewsPT Semen Gresik, Indonesia’s largest cement maker, saw a 11.6 per cent rise in sales in the first quarter of 2007 to 3.93Mt on higher demand for its product in the export market. First-quarter domestic sales rose 5.7 per cent to 3.52Mt from the same period a year earlier, while exports more than doubled to 411,396t from 195,000t, the company said in a statement on Tuesday. In March, exports climbed 625 per cent to 168,430t, while domestic sales fell 2.4 per cent to 1.21Mt from the ... |
Philippines Republic Cement 06 net profit17 April 2007, Published under Cement NewsRepublic Cement Corp said its net profit in 2006 nearly tripled to PHP2.63bn, from PHP900.4m in the previous year, boosted by higher sales, lower financing charges and an income tax gain. The cement producer, 39.22% owned by Lafarge, said sales rose 4.5% on year to PHP12.57bn while operating expenses declined 4% on year to PHP1.12bn. Other income from operations rose to PHP480m from PHP99m as the company sold non-operating assets, mainly old wet production lines. Republic Cement sa... |
Boral may be next brick in wall16 April 2007, Published under Cement NewsThe prospect of a takeover and even break-up of Australia’s biggest seller of building materials, Boral, comes as the industry at large faces cost pressures and the likelihood of flat earnings until 2009. The sector has largely been ignored during the recent spate of takeovers, though Cemex’s bid for Rinker Group has been endorsed by Rinker’s shareholders. If this deal goes ahead as expected, Cemex may sell the local Readymix cement business, worth up to $2.5 billion. Meanwhile, James Hardie... |
Gujarat Ambuja Cements to be known as ’Ambuja Cements’16 April 2007, Published under Cement NewsLeading cement maker Gujarat Ambuja Cements will be known as ’Ambuja Cements’ with effect from April 5, as per a notification received by the company. A copy of the fresh Certificate of Incorporation (CoI) dated April 10, 2007, confirming the company’s change of name issued by the Registrar of Companies in Gujarat has been received, Gujarat Ambuja Cements informed Bombay Stock Exchange. Meanwhile, the company would declare the unaudited financial results for the first quarter ended ... |
Indian cement makers to rake in 38% profit13 April 2007, Published under Cement NewsAided by a 25-30% growth in sales realisation and 7-8% growth in shipments, cement makers are expected to come out with a strong topline and bottomline growth during the March 2006 quarter. According to ET poll of brokerage houses and analysts, the aggregate net sales of top six cement makers are likely to grow by 38% year-on-year (y-o-y) to Rs 7,898 crore, while their net profit is estimated to gallop by 70% y-o-y to Rs 1639 crore during the quarter. CLSA, for instance, expects the industr... |
Weak cement demand to pressure 1Q07 earnings12 April 2007, Published under Cement NewsSiam City Cement (SCCC) is expected to announce a 1Q07 profit of Bt950mn (EPS of Bt4.07), up 37% qoq but down 17% yoy. The yoy decline is due to the economic slowdown and a projected 3% yoy decline in cement demand. Also, cement exports will be hurt by the strong baht, with cement sales prices down slightly from the previous quarter. SCCC’s sales will reach Bt5,855mn, up 6% qoq but down 5% yoy. Lower energy costs (diesel oil and electricity) should help gross margins improve slightly to 30% ... |
Yamamah Cement Q1 profits rise 9%12 April 2007, Published under Cement NewsSaudi Arabia’s Yamamah Cement Co said that the company’s net income rose 9.3 per cent to $46.3m in the first three months of 2007 compared to $43.9m in the same period of 2006. The officials pointed out that the company’s operating profits rose 13.4 per cent to $28.4m, attributing the increase to higher sales during the first three months of 2007, as demand on the company’s products rose on real estate projects. It is worth noting that Yamamah commands about 13 per cent share of cement sal... |
BLI to undergo joint branding12 April 2007, Published under Cement NewsBuxton Lime Industries is taking a new name, Tarmac Buxton Lime and Cement, and linking with its owner Tarmac Ltd in a joint-branding drive. It’s not just a logo change. It means Buxton Lime and Cement can draw directly on the resources and reputation of Tarmac, the country’s largest heavy building materials supplier. And it’s a big vote of confidence from Tarmac in the well-respected reputation of the Buxton brand name and its workforce at Tunstead and Hindlow. "We are renown... |
Taiheiyo plans expansion in US11 April 2007, Published under Cement NewsTaiheiyo Cement Corp. of Japan may buy plants in the US, the company’s most profitable market, and in faster-growing countries in Asia as demand at home falls and competition in global cement markets heat up. US sales may rise 33 per cent to as much as 160bn yen ($1.3bn) in 2007 for a third consecutive record year, from about 120bn yen in 2006, Keiji Tokuue, head of Taiheiyo’s overseas operations, said in an interview on March 28. The 59-year-old said he wants Taiheiyo to accelerate expans... |