Cement News tagged under: corporate
FCCL to announce Q1 after tax profit, Pakistan18 October 2006, Published under Cement NewsFauji Cement Company Ltd (FCCL) is expected to have earned after tax profit of Rs360.6m in the first quarter of the current financial year as compared to Rs259.8m in the same period last year, representing an increase of 39 per cent YoY, say analysts. The company is scheduled to announce its results for the first quarter ended on September 30, 2006 on Wednesday. To retain market share and to get benefit from increasing demand, the company has planned to install a new production line with c... |
UltraTech net up on firm cement prices18 October 2006, Published under Cement NewsAV Birla group company UltraTech Cement Ltd has posted a net profit of Rs 127 crore for the second quarter ended September 30 against Rs 8 lakh for the corresponding year-ago quarter. Revenues grew 57 per cent to Rs 1,005 crore (Rs 640 crore). The chief driver for the bottomline growth in the quarter was higher cement prices, which led to a 45 per cent increase in domestic realisation. Export prices increased 14 per cent, said a statement from the company. (The domestic prices were depr... |
CRH signs letter of intent to buy China’s Jilin Cement, China17 October 2006, Published under Cement NewsCRH PLC said it signed a letter of intent to acquire a 26 per cent stake in Yatai Cement, the cement business division of China’s Jilin Yatai Group, subject to Chinese government approval. CRH said the deal provides for an option to acquire further stake up to a maximum of 49 per cent in Yatai Cement after three years. CRH said Yatai Cement runs four integrated cement plants and a grinding station with a total cement capacity of about 9Mta in Jilin and Heilongjiang provinces of north... |
Raysut Cement Q3 profit almost triples, Oman16 October 2006, Published under Cement NewsRaysut Cement Co, Oman’s largest producer of cement, made a third-quarter net profit of OMR5.61m (US$14.57m), almost three times more than in the same quarter last year. Net income in the three months to Sept. 30 rose 177 per cent from OMR2.02m in the year-earlier period, according to Reuters calculations based on nine-month data the company released on Sunday. The company did not give figures for the third quarter. Net profit in the first nine months more than doubled to OMR15.68m, ... |
Gresik forecasts up to 20% profit jump, Indonesia16 October 2006, Published under Cement NewsPT Semen Gresik has predicted that its net profit this year would increase up to 20 per cent comparing with that of last year. The President Director of PT Semen Gresik Group Tbk, Dwi Soetjipto, revealed the prediction to the press when holding a fast-breaking gathering on Friday evening. "The volume of cement production will likely be similar to that of 2005. But the profit might increase by up to 10 or 20 per cent until the end of this year," he said. According to the available dat... |
Thailand’s Siam Cement (SCC): Strong 3Q06 earnings driven by petrochemicals13 October 2006, Published under Cement NewsSiam Cement (SCC) will announce its 3Q06 earnings on Oct 25 and the normalised profit is expected to be very strong at Bt8,982mn (EPS Bt7.49), up 19 per cent qoq and 12 per cent YoY. The petrochemical sector, with high HDPE and PP prices hitting new records last month has resulted in widening spreads between HDPE - Naphtha and PP - Naphtha. 2007 earnings prospects are expected to be maintained from this year. Petrochemicals should be slightly down from pricing and supply constraints, whi... |
Favourable Q2 results expected12 October 2006, Published under Cement NewsIndian Stock market analysts expect cement, automobile and banking stocks to post good results for the July-September quarter. In large part, their expectations are based on the fact that companies in these sectors have paid higher advance tax in September compared to the previous year. Advance tax is collected by the income tax department in four parts each year. As a thumb rule, companies pay advance tax based on what they expect their performance would be like. While the rule is not abs... |
Indonesia set to expand privatisation12 October 2006, Published under Cement NewsThe Indonesian government says it will ramp up its privatisation program next year, giving investors a chance to buy shares in a group of state-owned enterprises. The government plans to sell stakes in about 10 government companies. These include Bank Tabungan Negara, Indonesia Power, toll road operator Jasa Marga, construction firm Wijaya Karya, pipe maker KHI Pipe Industries, power company Pembangkitan Jawa Bali and Bank Syariah Mandiri. Stockbrokers say the most likely outcome is the g... |
Italcementi to invest further in Bulgaria12 October 2006, Published under Cement NewsItalcementi, plans to invest a further 185 million euro ($232 million) in Bulgaria in the next year, the government’s press office said on Wednesday. "In the next year the company will invest 185 million euro in the modernisation of its production [facilities]," the office said but gave no further details. The Italian cement group, which owns the Devnya cement plant near Bulgaria’s Black Sea city of Varna and cement maker Vulkan in southern Bulgaria, said earlier this week it would make a... |
Cementos Melon to invest in new plant12 October 2006, Published under Cement NewsChile’s cement maker Cementos Melon, subsidiary of France’s Lafarge, plans to build a new grinding plant in central Chile, with an investment of US$30m. The project, which aims to supply the increasing demand for cement in the country, involves the construction and operation of a cement manufacturing and distribution plant located in Ventanas, V Region, with an output capacity of 600 thousand tons a year. The installation is additional to the current investment of 27 million dollars that th... |