Cement News tagged under: corporate
Kuwait Cement Co Q1 net profits rise11 May 2005, Published under Cement NewsThe net profit of Kuwaiti cement maker Kuwait Cement Company rose to 9.21 mln Kuwaiti dinars ($31.6m) in the first quarter of 2005 from 5.06 mln dinars ($17.3m) in the same period of 2004, the Kuwait Stock Exchange (KSE) reported on May 10, 2005. The company’s net profit for the first quarter of 2005 included a profit of 5.75 mln dinars ($19.7m) resulting from the application of the International Accounting Standards (IAS) 39 and 40, which state how proceeds from securities and property shou... |
WAPCO seeks US$77m from rights offer10 May 2005, Published under Cement NewsNigeria’s West African Portland Cement Company , a subsidiary of the world’s leading cement firm Lafarge , said on Monday it had launched its rights issue to raise 10.2 billion naira ($77m) to pay-off debts. WAPCO, Nigeria’s biggest cement firm by capitalisation, said it is offering 1.286 billion shares on the basis of three for every four held by shareholders on its register by March 24. The offer will close on June 15. "It will provide us with fresh funds required to sustain the company’... |
Dyckerhoff losses10 May 2005, Published under Cement NewsGermany’s Dyckerhoff AG said Monday it had a net loss of EUR26m in the first quarter of 2005 after a loss of EUR24m in the previous year period. The company said sales of EUR202m almost matched the previous year’s figure of EUR203m. There was a positive stimulus from the US business as well from the activities in the Ukraine and in Russia. The other European cement markets recorded a weak development as a result of bad weather conditions and a reduced number of working days. Therefore both ... |
Titan Q1 net expected to rise10 May 2005, Published under Cement NewsGreek cement producer Titan is expected to post a rise in first-quarter net profit due to a change in accounting rules and to gains in its international operations, offsetting the post-Olympic Games slowdown at home. A Reuters poll of 11 analysts on Friday forecast on average net profit of EUR 26m Titan’s results will however not be directly comparable with year-earlier figures, because it will report under International Financial Reporting Standards (IFRS) on May 10, while last year’s figur... |
CRH believes it is better positioned09 May 2005, Published under Cement NewsChairman Pat Molloy, speaking at last week’s AGM in Dublin, said the impact on the business depended on the extent to which it was able to pass on any increase. "So far in 2005 we have had more success in passing cost on," he told shareholders. The group recently increased its cement price in this country by about seven per cent, as did some of the other producers. The key market, as far as CRH is concerned, is the US, and chief executive Liam O’Mahony suggested after the meeting that compan... |
RAK cement company net up09 May 2005, Published under Cement NewsThe Ras Al Khaimah Company for White Cement and Construction Materials posted a 330 per cent jump in its net profits over 2003, company representatives said in a report carried by Gulf News. The company recorded a net profit of Dh40.7 million for the year ending December 31, 2004, said Ahmad Bin Humaid Al Qasimi, the chairman of the company’s board. The company’s net profit for 2003 was Dh9.4 million, he said. The company’s annual general assembly, held yesterday, decided to distribute six... |
ACC profits up 89 per cent09 May 2005, Published under Cement NewsACC has posted a rise of 88.96 per cent in net profit at Rs 378.39 crore for the year ended March 31, 2005 compared with Rs 200.24 crore last year. Total income (net of excise) rose 16.45 per cent from Rs 3,433.01 crore in FY ’04 to Rs 3,997.85 crore for the year ended March ’05. Two nominees of the company - CEO and board member Markus Akermann, executive committee member Paul Hugentobler - have been appointed as additional directors on the ACC board. GACL and Holcim made an open at Rs 370 p... |
Strong profit growth at Eagle Materials06 May 2005, Published under Cement NewsFor the full year to the end of March, Eagle Materials achieved a turnover of US$616.5m, an increase of 22.7%. The trading profit before corporate overheads and interest charges jumped by 49.0% to US$171.7m and, helped by a 13.7% reduction in the net interest charge, the pre-tax profit emerged 54.8% higher at US$158.1m. Both cement and plasterboard volumes reached record levels during the year under review. With net debt at the year end of only US$77.6m, which represents a gearing level of ... |
Lafarge’s first quarter cement off by 4.1%05 May 2005, Published under Cement NewsThe Lafarge group turnover rose by an underlying 1.9% to EUR 2,945m in the first three months of the year, with the contribution from cement being 2.1% higher at EUR 1550m. Including sales to the downstream operations, that represents a gross 52.6% of the total. Cement shipments in the period amounted to 24.1Mt, an underlying decline of 4.1% and some 2% below the level of the corresponding period last year. European cement deliveries declined by 0.5Mt to 7.9Mt, with western Europe showi... |
Italcementi forms joint venture with Arabian Cement Company05 May 2005, Published under Cement NewsItalcementi’s first quarter results were hit by the adverse March weather in Europe and turnover declined by 1.6% to EUR 990.2m, with the EBITDA falling by 14.2% to EUR 166.5m. Exception for Belgium, Thailand and parts of Italy, cement prices have moved ahead in all main markets. With Ciments Français reported a virtually static turnover of EUR 667.7m, though 1.2% higher on a comparable basis, suggests that turnover in Italy fell by around 5.0% to some €990m. Using the same basis for ... |