Cement News tagged under: corporate
TPI Polene sees higher 2007 net profit18 January 2007, Published under Cement NewsTPI Polene , Thailand’s third largest cement firm, said on Thursday it expected growth in net profit this year, despite analyst forecasts of a fall, due to lower energy costs. Revenues would be flat or increase slightly, chairman Prachai Leophairatana said in an interview. Thailand’s cement demand would be flat this year after the central bank imposed capital controls in December which deterred foreign investors, dampening the domestic economy and construction industry, he said. "... |
Extra items expected to drag down 4Q06 earnings18 January 2007, Published under Cement NewsWhen Siam Cement (SCC) announces its 4Q06 earnings on Jan 24, the company’s results will be disappointing with a 22% QoQ drop in net profit to Bt5,918m. The company will record impairment losses of Bt700-900m on its petrochemical inventory and a Bt2.7bn charge on CRT’s remaining assets (some of which will be partly offset by a Bt1,600m gain from the recent sale of a 14.5% stake in SUS). Meanwhile, the cement, building materials and paper business have also been affected by the economic s... |
Prism Cement jumps on profit surge18 January 2007, Published under Cement NewsPrism Cement recorded nearly 10 per cent gain to close at Rs 41.60, following the announcement of a fifteen-fold jump in December quarter profits. Over 2.8 million shares were traded on the counter, with pending buy orders for close to a million shares at the end of the session. In the quarter ended December 2006, the company reported a net profit of Rs 50.09 crore compared with Rs 3.35 crore in the same quarter last year, while net sales rose 50 per cent to Rs 190.01 crore. |
Orascom in Tarmac bid rumours17 January 2007, Published under Cement NewsEgyptian conglomerate Orascom is rumoured to have had a £1.5bn offer for Tarmac turned down. Orascom’s construction division has been making a rapid push into the cement production sector around the world, particularly by snapping up plants in countries seen as volatile by its competitors, such as Algeria and Iraq. Anglo American (AA) bought Tarmac seven years ago for £1.2bn. Some put its potential current value, based on a similar multiple to that used in the takeover of Aggregate Ind... |
Dalmia Cement Q3 net profit jumps by 453 per cent17 January 2007, Published under Cement NewsNew Delhi, Jan 16 (PTI) Dalmia Cement (Bharat) Ltd today reported a more than five-fold jump in its net profit at Rs 64.84 crore for the quarter ended December 31, 2006, compared to Rs 11.72 crore in the year-ago period. Sales for the quarter ended December 31, 2006, rose by 66 per cent at Rs 231.05 crore against Rs 138.90 crore in the corresponding period of last fiscal, the company said in a statement. Dalmia Cement had recently announced plans to set up a four million tonne per ann... |
PCLA Cement Maker Wants to Withdraw its Shares from Public Trading17 January 2007, Published under Cement NewsCement producer Povazska Cementaren a.s. Ladce (PCLA) decided is withdrawing its shares from the Bratislava Stock Exchange (BCPB). Its shareholders made this decision at the at the extraordinary general meeting on January 3. The firm is now obliged to announce a mandatory bid to buy shares from those shareholders, who did not vote for withdrawal of the shares from public trading, or those who did not attend the meeting. The core business of firm is production of cement. The firm has bee... |
Readymix predicts 28 per cent profit surge17 January 2007, Published under Cement NewsProfits at cement group, Readymix, are expected to surge by 28 per cent for 2006, the company said this morning in a trading update to the Irish Stock Exchange. Adrian Auer, Readymix Chairman, said the improved performance is due to continuing favourable economic conditions, and the benefits from a range of performance improvement initiatives. "A very significant improvement in financial performance has been achieved in 2006. The Board is pleased with the progress that has been ma... |
Dalmia Cement net jumps 5.53 times for Dec`06 qtr16 January 2007, Published under Cement NewsDalmia Cement (Bharat) disclosed a 5.53 times jump in net profits to Rs 648.40m for the quarter ending December 2006 from Rs 117.20m for the December 2005 quarter. Sales for the quarter rose 66.34% to Rs 2,310.50m compared with Rs 1,389.00m for the corresponding quarter, a year ago. Total income climbed 100.15% to Rs 2,947 million for the December quarter as compared with Rs 1,472.40 million for the quarter ended Dec. 2005. The earnings per share (EPS) of the company stood at Rs 15.17 a s... |
Thailand’s TPI Polene: lower interest costs and forex gain to boost 4Q06 earnings15 January 2007, Published under Cement NewsTPI Polene (TPIPL) is expected to post impressive 4Q06 earnings next week of Bt531mn (EPS of Bt0.26), up 87% yoy but down 28% QoQ. Interest expenses are projected to fall 17% qoq and 43% yoy to Bt210m following the company’s recent capital increase and repayment of debt. Also, the baht’s strong appreciation in 4Q06 is expected to result in a forex gain of about Bt240mn. Stripping out this extra gain, TPIPL should post a normalised profit of Bt291m, down 18% QoQ, but a sharp turnaround from it... |
Jaiprakash Associates 3Q results12 January 2007, Published under Cement NewsJaiprakash Associates has released its 3Q earnings, reporting net profit at Rs 102 crore (Rs 1.02 billion) as against Rs 56 crore (Rs 560m) in the same quarter of earlier year. Manoj Gaur, MD of the company says that the company has had revenue growth of 13% and 44% growth on an EBITDA basis. He informs that their cement business has boosted Q3 performance. He also says that the company has capex of Rs 3,500 crore in the cement business. |