Cement News tagged under: corporate
Cementir shareholders approve 2005 figures21 April 2006, Published under Cement NewsThe shareholders’ meeting of Italian cement group Cementir approved on April 20, 2006 the group’s 2005 balance sheet and appointed its new board of directors. The shareholders decided on the distribution of a dividend of Euro 0.085 euro per share on Cementir’s 2005 results, which showed a 62 per cent rise in net profit to Euro 109.4m and a 117 per cent hike in revenue to Euro 857m. The shareholders’ meeting of Cementir also decided to increase the number of board members to 13 from 11. T... |
Siam Cement 1Q net down21 April 2006, Published under Cement NewsThailand’s Siam Cement is likely to report an on-year drop in its first-quarter earnings as high energy prices cut into profit, analysts said. However, the industrial conglomerate is expected to record on-quarter earnings growth in the January-March period due to strong contribution from its petrochemical business, they said. However, the company’s cement sales likely dropped four per cent on quarter and five per cent on year to THB10.02 billion in the first quarter, according to Siam City S... |
GCC reports good 1Q results20 April 2006, Published under Cement NewsGrupo Cementos de Chihuahua (GCC) net sales in the first quarter of 2006 increased 42.3 per cent to US$1212.4m pesos. This solid growth reflected higher sales in each of the company’s markets. In the United States, net sales rose 32.3 per cent as a result of the rise in average cement prices and 6.7 per cent volume growth, as well as revenues derived from the sale of coal to third parties from the NKC mine, which was acquired in the second quarter of 2005. In addition, the concrete operati... |
Holcim Philippines 2005 net profit dips20 April 2006, Published under Cement NewsHolcim (Philippines) Inc said its net profit in 2005 fell 9 per cent to 1.27bn pesos from 1.4bn a year earlier, owing to weak demand for cement. Revenues grew 6.4 per cent to 14.2bn pesos, it said, but no other details were given. Holcim (Philippines) is 51 per cent-owned by Cemco Holdings Inc, in which Switzerland’s Holcim Ltd has a sizeable stake. |
Steppe Cement initiated with "buy"20 April 2006, Published under Cement NewsAnalysts at Alfa Bank in New York have initiated coverage of Steppe Cement, Kazakhstan with a "buy" rating. The 12-month target price is set to US$6. In a research note Alfa Bank analysts mention that the company is benefiting from robust domestic demand and is expected to triple its production by 2008. The analysts expect domestic cement prices to continue to increase over the next couple of years. The company is also expected to achieve 30 per cent revenue growth this year due to accelerat... |
Cemex 1Q Results Seen Benefiting From RMC19 April 2006, Published under Cement NewsCemex is expected to post solid earnings growth in the first quarter, helped by last year’s acquisition of the RMC Group and a late Easter holiday, analysts said. Cemex, the world’s biggest supplier of ready-mix concrete and No 3 cement maker, is expected to post net income of between US$460m and US$510m in the first quarter, according to analysts’ reports. First-quarter net profit was US$444m in 2005. "This is a very good quarter," said Gonzalo Fernandez, an analyst at Santander Serfi... |
Romania’s Carpatcement optimistic19 April 2006, Published under Cement NewsRomania’s Carpatcement Holding, an unit of German cement products company HeidelbergCement AG, Monday said it forecasts revenues up 10 per cent in 2006 based on a development of the cement market and of the own network of concrete stations, said Mihai Rohan, director general with Carpatcement Holding. The company forecasts revenues of Euro 213m in 2006, compared with Euro 194m reported in 2005. |
Ashaka Cement raises turnover19 April 2006, Published under Cement NewsAshaka Cement Nigeria scored high on its balance sheet with an increase of N3.2 billion turnover for the year ended December 31st 2005. According to the company’s audited results for the period, the turnover stood at N15.8 billion higher than the 12.6 billion recorded in a comparable period of 2004. The profit after tax of the company also increased by N1.03 billion from N3.4 billion in a comparable period of 2004 to N4.43 billion in 2005. The directors of the company at the end of the finan... |
Gujarat Ambuja Cement reports higher Q3 net profits18 April 2006, Published under Cement NewsGujarat Ambuja has recorded an increase of 108 per cent in net profit at Rs 2.98 billion (US$66m) for the third quarter ended March 31, 2006, as against Rs 1.43 billion for the same period in 2004-05. The total income for the third quarter increased 44.75 per cent to Rs 9.78 billion as compared to Rs 6.75 billion in the year-ago period, the cement major informed the Bombay Stock Exchange. FY 2005-06 has been another very good year for the Indian economy and it is expected that the economy ... |
CIMA still in talks with Vicat18 April 2006, Published under Cement NewsUEM World Bhd said it is reluctant to give up control of its cement business to the Vicat Group, but it is still in talks with the French cement maker. UEM World’s 54 per cent subsidiary Cement Industries of Malaysia Bhd (CIMA) wants to to position itself as a regional player. Last month, the French cement company offered to buy a controlling stake in five of CIMA’s eight subsidiaries. "They have looked at our cement business and assets and they are keen to work with us," UEM World chief ... |