Cement News tagged under: corporate
KHD reports higher earnings15 August 2006, Published under Cement NewsKHD Humboldt Wedag International Ltd announces results for the quarter and six months ended June 30, 2006. The quarter has seen the completion of the majority of projects for the final phase of KHD’s transition to an industrial plant engineering and equipment supply company. This transition began with the distribution of a substantial portion of the financial services operations, Mass Financial Corp, to its shareholders during the first quarter of the year. The second quarter, ended June 30,... |
Boral sees civil engineering supporting Australian construction volumes15 August 2006, Published under Cement NewsIn its financial year to the end of June, Boral increased turnover by 10.7% to Aus$4,767m (EUR2,864m) with the EBITDA moving up by a more modest 3.7% to Aus$823m (EUR 494m), while the pre-tax profit declined by 3.1% to Aus$516m (EUR 310m). The softer Australian housing market provided the main negative effect, the non-residential areas performed better, as did the USA, with Asian profits being modestly ahead overall. The cement division increased turnover by some 10% to Aus$507m but the EBI... |
Balala says leave Lafarge alone, Kenya15 August 2006, Published under Cement NewsMvita MP Najib Balala has defended Lafarge Cement Company against claims of monopolistic practices in Kenya. Mr Balala said the company’s acquisition of shares in the country’s three largest cement manufacturers should not be an issue as long as the company paid taxes and did legitimate business. Lafarge has shares in Bamburi, Athi River and East African Portland Cement Company. "Let the government leave Lafarge alone. Let Lafarge do what it knows best, and let the government do its job... |
UAE cement stocks rise14 August 2006, Published under Cement NewsA rally in cement stocks dominated the latest session in Abu Dhabi. Cement Company led turnover in Abu Dhabi, jumping 6.75 per cent to 4.43 dirhams. The stock hit a one-month high of 4.53 dirhams during the day and was trading at around nine times 2006 earnings. "It seems to be a huge buyer," said a fund manager in Abu Dhabi. "I don’t know if it will last ... the stock has a low (price to earnings ratio) but there’s nothing different about it today than yesterday." Five cement stocks were ... |
Egypt stocks rise, led by cement sector gains14 August 2006, Published under Cement NewsEgyptian shares rose in thin volume on Sunday, with cement companies gaining on what traders said were hopes of an imminent truce in Lebanon followed by large scale rebuilding. "Maybe the cement companies and the steel companies will be able to export quite a bit into Lebanon on the back of this peace initiative that’s going on," said Yasser Hassanein of Dynamic Securities. Misr Cement Qena, which reported an 82 percent rise in net profit to 121 million Egyptian pounds (US$21m) in the fi... |
Portland ownership structure set for review14 August 2006, Published under Cement NewsEast African Portland Cement Company (EAPCC) major shareholders have agreed to review the firm’s ownership structure. Trade and Industry Permanent Secretary, Mr David Nalo, said the review was necessary to ensure compliance with the Capital Markets Authority (CMA) requirements for listed companies and to avoid monopolistic structures. "After honest and frank discussions, the shareholders agreed to walk down this reform path with the Government as this will create the opportunity for greater... |
Trinidad Cement financial reviewed14 August 2006, Published under Cement NewsAmidst an environment of increasing prices and cement demand, Trinidad Cement Limited (TCL), the Caribbean’s premier cement provider, delivered a weak half year performance (report local financial commentators). For the six month period ended June 30th 2006 EPS decreased 37.5 per cent from T$0.32 to T$0.20 of the corresponding prior half year period. Despite recording a 15.15 per cent increase in Revenues at the top line to T$837.8m, TCL’s Operating Profit suffered mainly due to quality iss... |
Madras Cements on expansion mode11 August 2006, Published under Cement NewsMadras Cement, India, expects a healthy balance sheet for the year given the surging demand for cement and the increase in prices, according to its Executive Director - Finance, Mr A.V. Dharmakrishnan. With its on-going expansion, the company does not expect its total debt to exceed Rs 600 crore, which, with a 10Mta capacity and its superior operating efficiencies, will not be a problem for the company to service, according to him. In the first four months of this financial year, the com... |
Yanbu Cement to pay higher dividends11 August 2006, Published under Cement NewsSaudi cement producer, Yanbu Cement Company (YCC), will pay a cash dividend of 52.5 mln Saudi riyals (US$14m) for the first half of 2006, the company said on August 10, 2006. The dividend equals 0.5 riyals ($0.133/0.104 euro) per share and will be paid through the branch network of the National Commercial Bank. YCC registered an increase in net profit to 154.1 mln riyals ($41.1m) for the second quarter of 2006, up from 110.2 mln riyals ($29.4m) a year ago. Net profit for the first half of t... |
JK Lakshmi Cement can give shareholders good returns11 August 2006, Published under Cement NewsJigar Shah of KR Choksey Securities is of the view that JK Lakshmi Cement can give 40-50% appreciation in a year. Shah told CNBC-TV18, “If one looks at Q1 numbers, cement has been the most impressive. Given the kind of activity happening in the economy at present the cement cycle is likely to remain buoyant and profitable. “But in case of JK Lakshmi Cement, the performance is excellent, the Q1 is showing profits more than half that in the last full year. It looks that the trend can be sust... |