Cement News tagged under: corporate
TPI Polene TPIPL 4Q06 net profit up 86.4% YoY but down 31.5% QoQ30 January 2007, Published under Cement NewsTPI Polene’s 4Q06 results were in line with the market consensus but higher than expected due to extra gains on foreign exchange of Bt342m. The core profit was Bt207mn, up 281% YoY due to lower interest burden after raising equity to reduce debt in August 2006, but down 47% QoQ due to slow cement demand from residential property and the flooding, combined with low petrochemical spread. The brighter outlook for 2007 depends mainly on the success of refinancing and investment plan. |
Cemex Quarterly income rises, sales gain30 January 2007, Published under Cement NewsCemex said net income rose 64% in the fourth-quarter to $416.7m from $253.4m in the prior year as the company benefited from increased sales in most of its markets. The Mexican cement giant (CX) said income per American Depositary Share reached 52 cents, compared with 35 cents in the prior year’s period. Quarterly revenue rose to $4.47bn from $3.96bn in the prior year. The company said sales increased in most of its markets due to higher cement, ready-mix, and aggregates volumes, a... |
ACC sells Everest stake29 January 2007, Published under Cement NewsACC has sold off its residual 8.2% equity stake in building materials manufacturer, Everest Industries, in the secondary market. The stake sale marks the final exit of ACC, previously a majority equity holder, from the company earlier known as Eternit Everest. ACC’s stake was put on the block by Holcim when the Swiss cement giant acquired the cement major in India two years back, as it did not want to continue with Everest’s asbestos-based roofing materials business. It may be recalled ACC... |
Polpaico 2006 profits up 8.6%29 January 2007, Published under Cement NewsChilean cement producer Cemento Polpaico increased consolidated net profits 8.6% to 16.2bn pesos (US$29.9m) during 2006 compared to the previous year, the company reported to securities regulator SVS. Revenues for 2006 were down 1.5% at 130bn pesos. Consolidated earnings rose, partly due to an increase in profits from related companies, lower non-operating costs, and a more favorable exchange rate, Polpaico said. Cement sales reached 1.4Mt last year, while concrete sales were 1.8Mm... |
Siam Cement (SCC) disappointing 4Q06 result26 January 2007, Published under Cement NewsFY06 net profit fell 9% YoY to Bt29.45bn, while 4Q06 net profit dropped 8% y-o-y and 39% q-o-q to Bt4.67bn, below expectations. Besides poor performance at all business units, 4Q06 results also included a net loss from asset divestment. Excluding non-recurring items, FY06 normalised net profit fell 2% y-o-y, and 4Q06 normalised net profit fell 1% y-o-y and 40% q-o-q. SCC declared a final dividend of Bt7.5 (Bt15.0 for full-year). The share will go XD on 9 April 2007. FY07F net profit had ... |
Holcim change, New Zealand26 January 2007, Published under Cement NewsHolcim change Jeremy Smith will become managing director of Christchurch’s Holcim Cement in June. Smith, a solicitor, has been general manager of the cement business since 2003. He replaces Rex Williams, who is retiring after nine years in the job, and 27 years at Swiss-owned Holcim |
Cemex seen boosting quarterly profits26 January 2007, Published under Cement NewsCemex is likely boosted its fourth-quarter operating profit by 31 per cent, helped by higher prices for its products and cost savings, a survey of analysts showed. Cemex’s net profit will likely be $545m in the quarter, up more than 100 per cent over the year-ago period, when the bottom line was crimped by one-time costs from the takeover of Britain’s RMC Group. Operating profit, a closely watched measure of the company’s day-to-day activities, was likely $664 million during the fourth qua... |
Hanson on a high as bid talk resurfaces25 January 2007, Published under Cement NewsHanson came within a whisker of record highs today as talk of a bid for the building products supplier resurfaced. The shares climbed 16p to 793p, after briefly touching 799p, as more than four million changed hands. Just a few weeks ago Hanson was being linked with Mexican cement maker Cemex, which later turned its attention elsewhere. Now the gossip in the Square Mile claims it’s the turn of the French in the shape of another cement maker, Lafarge, which bought our own Blue Circle Indu... |
UAE National Cement Co 2006 net profit down24 January 2007, Published under Cement NewsThe UAE Dubai-based National Cement Company (NCC) reported a net profit of AED222.6m (US$60.6m) in 2006, down from AED254.5m in 2005, the company said to Dubai Financial Market (DFM) on January 23, 2007. NCC operating profit dropped to AED152.8m (US$41.6m) from AED167m (US$45.5m). |
Siam Cement plans THB15bn bonds in March24 January 2007, Published under Cement NewsSiam Cement PCL, Thailand’s biggest industrial conglomerate, said on Wednesday it planned to sell up to THB15bn (US$429m) of 4-year bonds in March. The proceeds from the unsecured bonds would be used to refinance maturing debt and for new investment, the firm told the stock exchange. The bonds would be open for subscription from March 6 to 29 to both existing bondholders and the public. They would be issued on April 2, it said. The underwriters for the issue include Siam Commerci... |