Cement News tagged under: corporate
Fancesa shareholders to discuss capital increase31 August 2004, Published under Cement NewsBolivian cement producer Fancesa is to hold an extraordinary shareholders meeting September 9 in Sucre, Fancesa said in a filing to the country’s stock market. The meeting will include discussions about increasing the authorized and social capital of the company, issuing new shares and modifying company bylaws. Company officials were unavailable to comment on the reasons for the proposed actions. Earlier this year, company shareholders, the Sucre local government and the University of ... |
Philippines Republic Cement27 August 2004, Published under Cement NewsRepublic Cement Corp, majority owned by Lafarge said Friday its board has approved to fully acquire Lafarge’s Continental Operating Corp which will increase its total cement capacity to 8.5Mta of clinker a year, the largest in the Philippines. Continental operates cement plants in neighboring provinces of Manila. Aside from its own plant, Republic Cement owns stakes in several other cement companies, which prior to the acquisition already formed the second-largest cement group in th... |
Kuwait Cement Co H1 200427 August 2004, Published under Cement NewsThe net profit of Kuwaiti cement manufacturer Kuwait Cement Company fell to 7.12 mln Kuwaiti dinars ($24.2 mln/20 mln euro) in the first half of 2004 from 15.08 mln dinars ($51.2 mln/42.4 mln euro) in the same period of 2003. The company’s earnings per share (EPS) dropped to 18.97 fils ($0.064/0.053 euro) in the first six months of 2004 from 40.14 fils ($0.136/0.113 euro) in the corresponding period of 2003. Kuwait Cement reported a net profit of 2.06 mln dinars ($7.0 mln/5.8 mln eur... |
YTL Corp pre-tax profit jumps 39%27 August 2004, Published under Cement NewsYTL Corp Bhd has recorded a 39% jump in pre-tax profit to RM1.16bil for the fiscal year ended June 30, as revenue improved by 9% to RM4.4bil from the previous year on better operating results by its subsidiaries. However, pre-tax earnings in the fourth quarter were 9.6% lower at RM260mil against RM288mil in the previous corresponding period. Revenue was flat at RM1.098bil. “The decrease in pre-tax profit for the current financial quarter was mainly due to reduction in contribution... |
FLS sees good demand for new kiln capacity27 August 2004, Published under Cement NewsTurnover at FLS Industries rose by 8.7% to DKr.7767m (€1,031m) during the first half of 2004, while the EBITDA, though still modest, rose from DKr.27m (€3.6m) to DKr.362m (€48.7m). The trading profit was a positive DKr.96m (€12.9m) compared with a DKr.353m (€47.4m) loss last time. However, the lack of a positive contribution from asset disposals and higher financial charges led to the pre-tax number turning negative and showing a modest loss of DKr.27m (€3.6m). The agreed sale of Aalborg P... |
Siam City Cement: Lower 2H26 August 2004, Published under Cement NewsSiam City Cement PCL said Wednesday it expects to maintain sales growth at 10% on year in the second half of 2004, but its net profit will likely be squeezed due to higher operating costs on rising oil prices. Siam City Cement, Thailand’s second largest cement producer, recorded sales of 6.72 billion baht and net profit of THB1.37 billion in the second half of 2003. Chantana Sukumanont, the company’s executive vice president, said that despite slow cement demand in the third quarter due to ... |
Indocement Hedges debt25 August 2004, Published under Cement NewsThe Management of PT Indocement Tunggal Prakarsa Tbk has been hedging the principles as well as the interest of its debt the company will pay until January 2005. Christian Kartawijaya, the finance director of Indocement, said that the hedging is aimed at reducing the impact if fluctuation of the exchange rate of local currency. "We already take a prudent action by hedging our repayment of our principle of our debt as well as its interest we have to pay until January next year," he said ... |
Ultratech Cemco listed on bourses25 August 2004, Published under Cement NewsUltratech Cemco Ltd, the Aditya Birla Group’s cement company, was listed on the BSE and the National Stock Exchange on Tuesday. The stock opened at Rs. 305 per share at NSE and was quoted at Rs. 260.20 at the close of business. It reached a high of Rs. 340 during trading which saw a turnover of Rs. 178.33 crores on the scrip, according to the NSE data. About 66.33 lakh shares of Ultratech were traded on NSE during the day. The scrip touched a high of Rs. 338.70 per share at BSE and was at Rs.... |
Egyptian ASEC Cement soars25 August 2004, Published under Cement NewsEgypt’s ASEC Cement Co, posted a net profit of 12.62 mln Egyptian pounds (US$2.0m) for the first half of 2004, up 345.2 pct year-on-year. The increase in earnings followed a 26.7 per cent rise in operating revenue to 377.24 mln pounds (US$60.1m). |
Madras Cement: organic growth mooted25 August 2004, Published under Cement NewsCement manufacturers in the south of India had a bad start this financial year as consumption dropped in the April-June quarter. In this situation, Madras Cements stood out because its net profit increased, largely on account of a tight control over costs. AV Dharmakrishnan, Senior Vice-President (Finance), spoke to India’s Business Line about the company’s efforts to check costs and the situation faced by the industry today. Excerpts: What were the reasons for the fall in cement consumpt... |