Cement News tagged under: corporate
Siam Cement expects 2.7% earnings rise, Thailand23 October 2006, Published under Cement NewsSiam Cement Plc, the country’s largest industrial conglomerate, is expected to report a 2.7% rise in third-quarter earnings as weak cement demand undermines a strong petrochemical business. Petrochemical margins should remain high on tight supply due to capacity expansion delays in Iran, but high energy prices and a slowing construction industry will still weigh on SCC, a barometer of Thailand’s corporate health. The construction industry still hopes for long-delayed state infrastruc... |
Siam Cement expects 2.7% earnings rise, Thailand23 October 2006, Published under Cement NewsSiam Cement Plc, the country’s largest industrial conglomerate, is expected to report a 2.7% rise in third-quarter earnings as weak cement demand undermines a strong petrochemical business. Petrochemical margins should remain high on tight supply due to capacity expansion delays in Iran, but high energy prices and a slowing construction industry will still weigh on SCC, a barometer of Thailand’s corporate health. The construction industry still hopes for long-delayed state infrastruc... |
Gujarat Ambuja net climbs 159%, India23 October 2006, Published under Cement NewsBuoyed by higher cement prices, Gujarat Ambuja Cements’ net profit in the September quarter was up 159% to Rs 280 crore, as against Rs 108.06 crore in the year-ago period. The company’s turnover during the quarter saw a 50% increase at Rs 1,006.2 crore (Rs 669.8 crore). Profit before tax was up 66% at Rs 358.3 crore. Despite the severe floods in Gujarat, Maharashtra and Rajasthan, the company’s sales were up 9% to 3.21mt in the September quarter. ACEL’s revenues were up 50% at Rs 147 ... |
OCL India Ltd Q2 net profit up 45 per cent, India23 October 2006, Published under Cement NewsOCL of India today posted an increase of 45 per cent in its net profit at Rs 11.08 crore for the quarter ended September 30, 2006 as against Rs 7.6 crore in the same quarter last year. The company’s turnover grew by 38 per cent at Rs 213.98 crores as compared to Rs 155.39 crores for the corresponding quarter of the previous year, a company statement said here today. OCL is engaged in the production and marketing of cement, refractories and sponge iron with its manufacturing facilit... |
Cimsa and Oyak end partnership in Oysa Cimento, Turkey23 October 2006, Published under Cement NewsCement manufacturer Cimsa Cimento Sanayi and Oyak, a military pension fund, sent separate statements to the ISE and said that they decided to end their partnership in Oysa Oyak Cimento. Oysa Oyak was a joint venture between Oyak and Sabanci Group. The statements released by the companies noted that Cimsa and Oyak will evaluate share sale/purchase options for the cement company Oysa Cimento. |
OCI discloses stake in Texas Industries – considering takeover23 October 2006, Published under Cement NewsIn a 13D filing on Texas Industries Inc. (TXI), Nassef Sawiris/NNS Holding and director and CEO of Orascom Construction Industries, disclosed a 2.3% stake (547,700 Shares). In addition to the shares, NNS Holding holds call options over an additional 1,641,620 shares maturing at various dates in January, February and March 2007, which, together with the shares, if exercised, will constitute up to approximately 9.1% of the issuer’s common stock. In the filing the group noted that the common s... |
Siam cement voted most admired company in Thailand20 October 2006, Published under Cement NewsSiam Cement has been voted the most admired company in Thailand in the latest "Asia 200" survey by the Wall Street Journal Asia, The Nation reports. The company beat Charoen Pokphand Foods, Siam Commercial Bank, Kasikornbank and Land & House for the title. The survey of business readers in Asia has been conducted annually since 1993. |
ACC sees marginal rise in net profit, India20 October 2006, Published under Cement NewsAssociated Cement Companies (ACC) posted a marginal rise in net profit at Rs 225.3 crore in the September ’06 quarter as compared with Rs 224.74 in the same quarter of the previous year. The apparent small growth in profit was because of an exceptional item for Rs 132.2 crore in the previous year. Excluding the exceptional item ACC’s profit has grown 143.5% quarter-on- quarter. Net sales increased 30.4% to Rs 1391.6 crore during the quarter while actual volume sales was up 8.4% at 4.... |
FCCL registers flat results, Pakistan19 October 2006, Published under Cement NewsFauji Cement Company Limited (FCCL) has registered a flat trend with net profits standing at Rs 269m translating earning per share at Rs 0.73 in the first quarter of FY 07 as compared to Rs 260m EPS Rs 0.70 in the corresponding period of FY 06. Analysts say that main reason behind this flat trend in profitability is excess supply of the product in the market due to which cement prices are falling leading to lower retention prices for the company. Net sales of the company at Rs 1, 098m we... |
Sinai Cement’s H1 profit more than doubles, Egypt19 October 2006, Published under Cement NewsEgyptian cement company Sinai Cement more than doubled net profits in the first half of 2006 to E£147.3m (US$25.7m), the company said in a statement. It made a net profit of E£65.5m in the first six months of 2005, the company said. Investment bank and equities researcher EFG-Hermes on Monday said it was raising its long-term fair value estimate for Sinai Cement due to its favourable exposure in the export market. Cement companies in the domestic sector have been affected by the ... |