Cement News tagged under: corporate
Saudi Tabuk Cement Co25 October 2004, Published under Cement NewsSaudi cement producer Tabuk Cement Company (TCC) posted a net profit of 95.7 mln Saudi riyals ($25.5m) for the first nine months of 2004, up from 55.8 mln riyals ($14.9m) in the corresponding period of 2003. TCC’s sales stood at 218.5 mln riyals ($58.3m), up 38.6 per cent year-on-year, while the cost of sales rose 19.5 per cent to 109.6 mln riyals ($29.2m). As a result, gross profit increased 65.2 per cent to 108.9 mln riyals ($29m). |
Taiheiyo ups H1 net profit estimate to Y4.5bn, Japan22 October 2004, Published under Cement NewsTaiheiyo Cement Corp, said it now expects to post a first half to September parent net profit of 4. 5bn yen, higher than the 400m yen net profit seen earlier, citing the booking of a special dividend of 1.5bn yen from its affiliates. The company did not disclose details of the special dividend. Taiheiyo Cement now forecasts a first half to September parent current profit of 2.7bn yen on revenue of 140bn yen, compared to its earlier forecasts of 800m yen current profit on revenue of 141bn yen... |
Boral shares soften as construction activity slows, Australia22 October 2004, Published under Cement NewsShares in Boral Ltd softened today after it revealed its first quarter revenues hadn’t improved on last year, as the building products company suffers from a dip in Australian construction activity. However Boral still expects its full year net profit would lift five per cent on last year’s record $370m underlying profit. Executive director Rod Pearse told shareholders at Boral’s annual general meeting in Sydney today that sales for the three months to September 30 this year were weaker... |
Lafarge 9-month sales up 5.7 per cent, keeps outlook21 October 2004, Published under Cement NewsLafarge reported a 5.7 per cent rise in 9-month sales on Thursday, thanks to higher cement prices in the United States and Europe, and reiterated its guidance for the full year. The company said it was confident full-year operating income would grow by more than 10 percent, excluding currency fluctuations and barring unusually adverse weather conditions. The building materials company said in a statement it generated sales of EUR10.87bn (US$13.69bn) from January to September, compared wi... |
Italy’s Buzzi launches US bonds worth $172m21 October 2004, Published under Cement NewsItaly’s Buzzi Unicem has issued a total of $172m in senior unsecured notes via private placements in North America to fund a stake purchase in cement maker Dyckerhoff, the company said. Investment bank Merril Lynch advised the company on the deal, which comprises three tranches with maturities in 2007, 2009 and 2011. The first tranche of US$25m has a fixed annual rate of 4.41 percent. The second of EUR15m ($18.89m), callable from 2006, is priced at a floating rate at 70 basis points ... |
Gujarat Ambuja July-Sept quarter net leaps, India20 October 2004, Published under Cement NewsGujarat Ambuja Cements LtdIndia’s third-biggest cement maker by capacity, said quarterly profit surged as it benefitted from a boom in export prices. Gujarat Ambuja, also the nation’s top cement exporter, said standalone net profit in the first fiscal quarter ended September rose more than six-fold to INR904.6m (US$19.8m). Net sales climbed 58 per cent to INR5.99bn. A Reuters poll had forecast a 427 per cent jump in the past quarter’s net profit to a median INR955m. Gujarat A... |
SG wraps up Semen Padang audit with negative adjustment, Indonesia20 October 2004, Published under Cement NewsState-owned PT Semen Gresik (SG), the country’s largest cement producer, has completed a forensic audit on its subsidiary PT Semen Padang, with possible losses resulting from irregularities committed by the previous management. SG corporate secretary Soebagyo told local press that the company’s auditor PricewaterhouseCoopers (PwC) had just concluded the forensic audit for Semen Padang’s 2002 financial account, and would later consolidate it with the SG account. "The audit (result) wa... |
Texas Industries Names Rogers Chairman, USA20 October 2004, Published under Cement NewsTexas Industries Inc., a supplier of cement, concrete and steel products, said Robert D. Rogers was named chairman Tuesday at the company’s annual shareholder meeting. Rogers retired earlier this year after serving as the company’s president and chief executive for 34 years. |
UltraTech begins debt revamp19 October 2004, Published under Cement NewsUltratech Cement, a subsidiary of Grasim Industries, has begun its much-touted debt restructuring programme and has already reduced its debt burden to Rs 1,550 crore, from Rs 1,800 crore when it acquired the cement unit from L&T. A Birla group top executive said the company is also planning a private-placed debenture issue aimed at institutional investors to reduce the liabilities. He stated that the proposal is in the initial stages and will be placed before the board of directors. ... |
Anhui Conch 3Q net profit narrows, China18 October 2004, Published under Cement NewsAnhui Conch Cement Co, China’s largest cement producer, said it earned a smaller net profit in the third quarter than in the same period last year, as government measures to slow the economy began to affect its business. While revenue for the September quarter rose to CNY2.06bn from CNY1.43bn in the year-earlier period, net profit fell to CNY131.63m from CNY192.17m. Operating costs rose sharply to CNY1.58bn from CNY883.57m a year earlier. "Due to the austerity measures, the market de... |