Cement News tagged under: corporate
Siam City Cement 3Q Net THB988.5M Vs THB1.04B10 November 2006, Published under Cement NewsSiam City Cement PCL, Thailand’s second-largest cement maker by capacity, Friday said its net profit for the third quarter dropped 4.9% on year as expenses rose in the wake of high oil prices. In the quarter to Sept. 30, the company posted a net profit of THB988.5 million, or THB4.23 a share, down from THB1.04 billion, or THB4.38/share, a year earlier. The earnings came in higher than analysts’ expectations. Siam City Cement reported total revenue of THB6.15bn for the quarter, up ... |
Egypt’s Torah Cement nine-month net up 36 per cent10 November 2006, Published under Cement NewsEgypt’s Torah Portland Cement made a net profit of E£262.7m (US$45.9m) in the first nine months of 2006, 36 per cent up on the same 2005 period, the stock exchange said on Thursday. Net profit in the first nine months of 2005 was E£192.8m, it said in a statement. Torah Cement is a subsidiary of Suez Cement , which is itself majority owned by Italy’s Italcementi. |
Bulgaria operations contribute to Italcementi nine-mo profit gain10 November 2006, Published under Cement NewsThe Bulgarian operations of cement major Italcementi have once again flattered the bottomline of the company as shown by its consolidated January-September financial report. The Italcementi cement mills in Devnya, near the Black Sea port of Varna, and Dimitrovgrad, in the south-east of the country, control around 40 per cent of the market. The group posted a 40 per cent jump in profits to EUR525m while earnings rose 18 per cent to EUR4.39bn. Operating profit was reported at EUR827.3m, up... |
Chinese companies to establish cement plant in Abyan10 November 2006, Published under Cement NewsYemeni Assas company signed Wednesday with Chinese CMC and Hong Kong Mix More companies a partnership agreement to establish a cement plant in Abyan governorate with daily production capacity 5000t, official news agency reported. Source said the project, which will cost US$ 240m, is the first of its kind in Yemen and represents a direct fruit of president Saleh’s visit to Hong Kong last year. Hussein bin Shuailah, the representative of Shuailah Group Co, signed the agreement on the Yemeni ... |
Groupe Bruxelles Lambert ups lafarge stake to 13.2%09 November 2006, Published under Cement NewsBelgian financial holding Groupe Bruxelles Lambert has increased its stake in Lafarge to 13.2% from 11.3% previously, GBL said in a statement late Wednesday. GBL, the investment vehicle of Belgian financier Albert Frere, now has a 12.4% voting stake in Lafarge, up from the 10.6% it reported in September. GBL began building up a stake in Lafarge earlier this year. Lafarge has said it views GBL’s stake building "positively" as it demonstrates confidence in its strategy and its future sha... |
Rinker posts 12% HY profit rise09 November 2006, Published under Cement NewsRinker Group Ltd has delivered a 12 per cent rise in interim net profit amid a downturn in the US housing market, as it fights a $US12.8bn ($A16.8bn) takeover bid from Cemex. The Australian building products maker, which maintains the Cemex offer materially undervalues the company, today announced a 12.3 per cent rise in first half net profit to $US410.4m ($A531.85m). The improvement came despite deteriorating residential housing markets in Australia and, more importantly, in the United St... |
Athi River Mining profits up 20%09 November 2006, Published under Cement NewsAthi River Mining has announced a 20 per cent increase in profits before tax and laid out its strategy to increase cement production. The firm will increase its capacity to produce clinker and consider investing in its own power plant to keep energy costs down. Mr Pradeep Paunrana, managing director, said pre-tax profits for the nine months ended September had risen to Sh250m thanks to the boom in the construction industry. Turnover grew 14 per cent to touch Sh1.8bn. Paunrana sa... |
Lafarge confirms EPS growth target09 November 2006, Published under Cement NewsLafarge confirmed it aimed to lift annual earnings per share by 10 per cent on average out to 2008 after posting third-quarter results that beat expectations. "We are focused on achieving our 2008 targets," a Lafarge spokeswoman said. In its strategic plan set out in February to boost profits, Lafarge aims to cut costs by EUR400m ($511m) by 2008 and generate an extra EUR1.5bn in cash over the next three years, helped by a EUR1bn disposal programme by end-2008, excluding the potential... |
Texas Industries sales hint no deal08 November 2006, Published under Cement NewsEven as Texas Industries Inc. maintains its silence regarding buyout talks instigated by a major shareholder, insiders are selling company shares, suggesting a deal isn’t on the horizon. Egyptian investor Nassef Sawiris disclosed last month that he had accumulated a 2.3% stake in the Dallas-based cement producer and controlled options that, if exercised, would boost the stake to 9.1%. Mr. Sawiris said he may push for the company to be sold and may attempt to seek control of the company h... |
Eagle Materials ups buyback to 6M shares08 November 2006, Published under Cement NewsEagle Materials Inc, which makes cement and gypsum wallboard, on Tuesday said it raised the level of its stock buyback plan to about 6 million shares, or more than 12 per cent of its outstanding common stock. The number of shares of common stock outstanding on Oct. 31 was about 48.3 million, according to the company. |