Cement News tagged under: corporate
Cimpor 1H net profit down30 August 2005, Published under Cement NewsPortuguese cement company Cimpor SGPS SA said Friday its consolidated net profit fell 4 per cent in the first half, mainly because of higher fuel costs and financial charges. Cimpor posted net profit of Euro124.4m for the first six months, down from Euro129.2m in the same period the previous year. Sales were up 9 per cent at Euro741.1m, while operating costs rose 10 per cent to Euro501.4m. Cimpor also said earnings before interest, taxes, depreciation and amortization were up 8 per cent... |
Lucky Cement profit rise30 August 2005, Published under Cement NewsProfit after tax of Lucky Cement, Pakistan rose by 20.5 per cent to Rs 826 million during the year ended June 30, 2005 compared to previous year’s Rs 685 million, according to company’s financial results released at Karachi Stock Exchange. The company did not announce any cash dividend, bonus issue, right issue or interim dividend for its shareholders. The gross profit of the company jumped by 25.3 percent to Rs 1.379 billion compared to Rs 1.100 billion during the previous year. The company ... |
YTL Corp posts strong results30 August 2005, Published under Cement NewsYTL Corp Bhd yesterday reported a 28 per cent increase in net profit, achieved on record revenue for the year ended June 30 2005. Net profit was RM587.1 million versus RM459.7 million recorded last year, excluding exceptional gains. Sales were at a record RM4.95 billion, up 12 per cent from last year’s RM4.41 billion, helped by more contributions from the group’s utilities businesses comprising water and sewerage services in the UK, power generation in Malaysia and Indonesia and power transm... |
Titan advances despite weaker Greek market26 August 2005, Published under Cement NewsTurnover in the first half rose by 12.2 per cent to €612.9m, which amounts to a 14.7 per cent increase at constant currencies. The operating profit at the EBITDA level advanced by 11.1 per cent to €161.3m. Net debt at the end of June stood at €494m to give a gearing level of 64.9 per cent . The group’s cement volumes rose by around 7 per cent to 7.2m tonnes, helped by the full availability of the new Pennsuco works in Florida. Ready-mixed concrete deliveries were some 5% ahead at 2.7m m³,... |
Axa cuts stake in Germany’s HeidelbergCement26 August 2005, Published under Cement NewsFrench insurer Axa has cut its stake in HeidelbergCement , the German cement maker said in a newspaper notice on Friday. HeidelbergCement said Axa notified it that it had reduced its stake in the company below 5 per cent to 0.42 per cent. The takeover vehicle of German billionaire Adolf Merckle, Spohn Cement, and its affiliates now control 76 per cent of HeidelbergCement after buying shares from the market and the conclusion of Spohn’s takeover offer to shareholders. |
Arabian Cement H1 down26 August 2005, Published under Cement NewsSaudi cement producer Arabian Cement Company (ACC) posted a net profit of 165.9 mln Saudi riyals (US$44.2m) for the first half of 2005, down 13.6 per cent year-on-year. The decline came despite the 20.9 per cent rise in sales to 342.7 mln riyals ($91.4m). Operating income also rose to 160.3 mln riyals ($42.5m) in the first six months of 2005, which was offset by a sharp decrease in other income to 13 mln riyals ($3.5m). |
Courts reject cement companies’ appeals25 August 2005, Published under Cement NewsArgentine legal authorities have provisionally confirmed the record 310mn-peso (US$106m) fine imposed on five cement companies for allegedly agreeing to split up the market and raise prices, according to the local press. However, the decision has still not been confirmed, Demetrio Brusco, head of institutional relations at affected company Juan Minetti told BNamericas. "We have not been officially informed of the authorities’ decision, so we are unable to react as yet," the official said. H... |
India Gujarat Ambuja to sign loan25 August 2005, Published under Cement NewsOne of India’s leading cement makers Gujarat Ambuja Cements Ltd said it will next week sign a three-year loan for $100m to partly refinance an earlier loan. "The new loan will partly replace our earlier loan of $80m and also meet our normal capital expenditure," said Jayesh Doshi, vice president of treasury of Gujarat Ambuja. He said the bank had just received the loan details from the group of six banks arranging it. "The loan is priced at six-month Libor (London interbank offered rate)... |
IFC to invest in cement works in Iraq25 August 2005, Published under Cement NewsInternational Finance Corporation is apparently considering the possibility to invest US$210.3m in the construction project of cement works in Iraq with a productive capacity of 2.9Mta. IFC also intends to participate in the capital of new company by way of investing US$8.3m. The first investment project in Iraq with participation of IFC was realized in finance sector in November 2004 when Corporation invested US$35m in the capital of Credit Bank of Iraq. |
Holcim H1 net seen up on acquisitions, prices23 August 2005, Published under Cement NewsHolcim , the world’s second biggest cement maker, is set to report higher first half sales and earnings on Thursday as recent acquisitions and price increases more than offset higher energy costs. Holcim has benefited from a pick-up in demand for its cement and concrete in North America and parts of Europe as building activity increases on the back of a global economic recovery. Meanwhile higher oil prices boosted the cement company’s energy and transport costs. Management has said energ... |