Cement News tagged under: corporate
Cementos Pacasmayo reports H1 profits dip28 July 2005, Published under Cement NewsPeruvian cement company Cementos Pacasmayo posted a 30.1m-sol (US$9.24m) net profit for the first half of 2005, down slightly on the 31.1mn-sol figure from the same period last year, according to information sent to Peru’s securities regulator Conasev. In the period, Peru’s third largest cement producer had sales revenue that grew slightly to 145m soles from 144m soles in 1H04. In 2004, Pacasmayo posted a 73.5m-sol net profit in 2004, up 26.3 per cent from the previous year. Controller Inv... |
Manuel Fino buys 3.3 per cent of Cimpor28 July 2005, Published under Cement NewsPortuguese entrepreneur Manuel Fino has boosted his stake in the share capital of local cement producer Cimpor-Cimentos de Portugal SGPS by 3.3 per cent, it was reported on July 26, 2005. The stake was reportedly acquired from Portuguese investor Joe Berardo. No financial details were available. Before the operation Fino reportedly controlled a total 11.3 per cent of the Cimpor share capital. |
Oman’s Raysut Cement H1 profit rise28 July 2005, Published under Cement NewsOman’s Raysut Cement reported a 49 per cent increase in first-half net profit to 5.02 million rials (US$12.9m), as it cranked up output to feed a construction boom in the region. The company said on Wednesday the result meant it could "significantly" exceed its profit forecasts for the full year, although it did not say what those forecasts were. Six-month turnover soared 37 per cent from the same period a year earlier to 13.7 million rials while operating profit climbed 35 per cent to 6... |
India Cements to issue GDRs27 July 2005, Published under Cement NewsIndia Cements Ltd has decided to issue global depository receipts or other securities to raise up to US$115m. The proceeds of the global issue of equity are likely to be used to swap high cost debt. The company had earlier this year raised significant funds by privately placing equity and optionally convertible debentures. The company attributed the improved performance to buoyancy in cement demand because of which average realisation for a tonne of cement has gone up by Rs 67 to Rs 2,44... |
Ciments du Maroc to buy Suez Cement stake27 July 2005, Published under Cement NewsThe board of directors of Moroccan cement company Ciments du Maroc (majority owned by Italcementi) decided on July 22, 2005 to buy a 13.4 per cent stake worth 1.2 bln Moroccan dirhams (Euro 109m) in the Egyptian Suez Cement Company. Suez Cement Company is said to have an annual production capacity of 8.0Mt. Ciments du Maroc reported a net profit of 532 mln dirhams (Euro 48.5m) for 2004, down by 4.3 per cent year-on-year. The company is also planning for a major investment in Morocco worth Eur... |
UAE Union cement net profit climbs27 July 2005, Published under Cement NewsThe net profit of UAE Ras al-Khaimah cement manufacturer Union Cement climbed 37.8 per cent year-on-year to 86.3m UAE dirhams (US$23.5m) in the first half of 2005, it was reported on July 26, 2005. Sales revenue rose to 190.1m dirhams (US$51.7m) from 144.6m dirhams (US$39.4m), while the cost of sales increased to 103.7 mln dirhams (US$28.2m) from 82 mln dirhams (US$22.3m), the company said in a report to the Abu Dhabi Securities Market (ADSM). |
Court denies ex-TPI chief right to purchase shares27 July 2005, Published under Cement NewsThe Central Bankruptcy Court dismissed a petition by company founder Prachai Leophairatana demanding to purchase 249 million shares of TPI Polene Plc, the country’s third largest cement maker, the Bangkok Post reports. Prachai, on behalf of TPI Polene’s rehabilitation plan administrator, last week asked the court for permission to buy the shares, totalling around 31 per cent of the number currently held by parent Thai Petrochemical Industry Plc (TPI), for $1 each, while he negotiated the... |
Ciments Français sales boosted by higher prices and Suez Cement27 July 2005, Published under Cement NewsItalcementi’s international subsidiary Ciments Français increased its first half turnover by an underlying 6.9% to €1,675m. In absolute terms the increase was 10.2%, thanks to the initial consolidation of Suez Cement Company in the second quarter. This, in combination with generally higher cement prices, helped boost cement and clinker sales from 64.3% to 66.2% of turnover. The growth in concrete and aggregates was less pronounced, with an underlying 3.3% to €524m. The European Union r... |
UK Bestway charts Pakistan success26 July 2005, Published under Cement NewsBestway Cement Pakistan, part of the Bestway Group of UK, reports increased sales and good progress on its new cement project in the Punjab. During the nine months period ended March 31, 2005 (9M 2004-05) the company’s total despatches were recorded at 848,142t which included 204,267t of cement exported to Afghanistan, registering 15.2% increase in despatches as compared to same period last year. Sales (net) in terms of value amounted to Rs 2.404 billion as compared to Rs 1.844 billion... |
Florida Rock Industries third quarter results26 July 2005, Published under Cement NewsFlorida Rock Industries, has announced record net income of $45,878,000 or $.69 per diluted share for the third quarter of fiscal year 2005 versus $33,050,000 or $.50 per diluted share (split adjusted as a result of the 3-for-2 split on July 1, 2005) for the same quarter of fiscal year 2004. Consolidated total sales for the quarter increased 25% to $313,499,000 from $251,649,000 in the same quarter last year. Product volumes increased in all segments versus the third quarter of 2004 with... |