Cement News tagged under: corporate
CRH gives positive outlook for 200607 March 2006, Published under Cement NewsCRH posted strong results for 2005 and provided an upbeat outlook for the current year. The group, which earns over half of its profits in the US, said pretax rose 16 per cent to Euro 1.279bn as continued strength in the North American construction industry help push turnover up 13 per cent to Euro 14.449bn. The results were in line with a January trading statement. Looking ahead, CRH chief executive Liam O’Mahony said the company had entered the new year with ’good momentum’, and that the... |
Lafarge extends cash tender offer07 March 2006, Published under Cement NewsLafarge, owner of a 53.2per cent majority stake in Lafarge North America Inc, today announced that it has extended the expiration date of its cash tender offer of US$75.00 per share for the 46.8per cent of Lafarge North America shares it does not own until midnight, New York City time, on Monday, April 3, 2006. The extension of the Offer was made at the request of the special committee of the board of directors of Lafarge North America. |
Shree Cement profit hit by charge07 March 2006, Published under Cement NewsCement maker Shree Cement expects to report a 72 per cent jump in 2005/06 profits but will miss market expectations by a wide margin because of a depreciation charge of at least Rs 1.3bn rupees (US$29m). Shree’s managing director Hari Mohan Bangur said on Tuesday that its 2005/06 net profit would come in below Rs 500m, up from 291m a year earlier, but well below the Rs 1.16 bn average forecast of six analysts polled by Reuters Estimates. |
Bamburi profits up significantly07 March 2006, Published under Cement NewsBamburi Cement¹s profit before tax has grown by 22.5 per cent to Ksh3.3bn from Ksh2.7b for the year ended December 31, 2005. A statement said the group¹s turnover shot up by 22.5 per cent to close at Ksh15.1b while the total dividend pay-out was Ksh1.9b. Richard Kemoli, the group¹s chairman, said: "We had a steady performance despite difficult conditions and rising prices of fuel and power, raw materials and transport.Power quality and price remain key challenges in all our businesses in Ea... |
Fecto Cement’s last year performance07 March 2006, Published under Cement NewsThe turnaround in Fecto Cement Ltds performance in Pakistan was achieved last year. For the year under review, the company achieved even higher result which enabled the company in further improvement of dividend payout, reports Business Recorder. Moreover the company embarked upon upgradation project to optimise cost and expand productivity. During the year under review production of clinker increased by 23.37 per cent but cement despatches were recorded at lower rate of increase by 12.33 p... |
Cement sector profitability up 82 per cent06 March 2006, Published under Cement NewsDuring the first half of the current financial year the profitability of local Pakistani cement companies maintained its upward track with higher demand, price increment and decline in cost of production with investment on cost efficiency by the manufacturers. The cumulative profitability of most cement companies that has announced their half-year financial results stood at Rs 5.81 billion, depicting a massive growth of 82 per cent over first-half of the previous financial year 2005 with com... |
Rain Commodities acquires RCUSA06 March 2006, Published under Cement NewsRain Commodities Ltd a Hyderabad based cement producer today said it has acquired 100 per cent equity stake in US-based Rain Commodities Inc (RCUSA). Pursuant to the acquisition, RCUSA has now become a wholly owned subsidiary of the company, it informed the Bombay Stock Exchange. Earlier, RCUSA had acquired 20.22 per cent stake in GLC Carbon USA Inc from American Industrial Partners Capital Fund II, for an aggregate price of 23.2 million Canadian dollars in cash. Through the acqusition of... |
Cemex offers investment sweetener?06 March 2006, Published under Cement NewsThe Colombian subsidiary of Cemex is set to double investments in 2006 in response to high sales in the country, newspaper El Norte quoted the firm’s planning and development VP, Juan Carlos Delrieu, as saying. Since Cemex started up business in Colombia in 1996, it has invested US$8-10m a year, but this year the figure will be between US$16m and US$20m, according to Delrieu. "The most important thing is that we are selling a reasonably high volume; high enough for us to be obliged to re... |
CRH ’05 profit up appreciably, 2006 outlook good06 March 2006, Published under Cement NewsProfits at Irish building materials group CRH Plc are expected to have exceeded Euro 1.25bn in 2005 -- up 14 per cent on 2004 -- and analysts forecast another strong year for the group. The median of 12 forecasts gathered by Reuters Estimates put CRH’s expected pretax profit at 1.256 billion euros in the year to the end of December compared with 1.02 billion euros in 2004, on estimated turnover of 14 billion euros. CRH, which is due to reports the results on Tuesday, said in January it ... |
Commercialbank to manage Gulf Cement IPO06 March 2006, Published under Cement NewsGulf Cement Company has appointed Commercialbank to manage its initial public offering (IPO) on the Doha Securities Market. Gulf Cement will have a paid-up capital of QR800m and hopes to offer 80 per cent of the company’s shares for public subscription in the first half of April at the face value of QR10 per share.Details of the IPO and the application process for investors will be announced in due course. Andrew Stevens, Commercialbank’s CEO, said, “We are delighted to have been appointed ... |