Cement News tagged under: corporate
Alexandria Cement19 August 2004, Published under Cement NewsAlexandria Cement posted 1H FY04 results ending June, wherein the company incurred a LE17.6 million net loss down from a net loss LE23.1 million recorded in the comparable period last year. Meanwhile sales revenue surged a remarkable 56.1% to settle at LE156.9 million versus a comparable LE100.5 million. The bottom line loss stemmed from a high COGS/Revenue ratio of 92.3%, a 60bps decline versus a previous 91.7%. |
Chilean mining and chemicals company SQM is to sell its19 August 2004, Published under Cement NewsChilean SQM sells share in Cemento Melón 14.05% share in cement company Melón. The announcement was made by the Santiago Commerce Exchange on August 18. 653,748.837 shares of the cement company are going to be offered by Santander Investment, stockbrokerage company. SQM wants to focus on its main business, which is the production of fertilizers, reports Diario Financiero newspaper. |
Markets await Ultra Tech’s listing19 August 2004, Published under Cement NewsIndian stock markets are anxiously waiting for the listing of AV Birla group’s Ultra Tech Cemco, the new cement company carved out of Larsen & Toubro. It is yet to be listed on the stock exchanges, though the open offer was completed two months ago.Brokers said the listing of Ultra Tech Cemco was delayed as the listing procedure for this company was very complex as it was carved out of an existing company and then re-listed. But marketmen are expecting the stock to be listed at a discount. ‘‘... |
Gresik climbs higher18 August 2004, Published under Cement NewsIndonesian shares are higher Wednesday led by buying in cement maker Semen Gresik on news that the government will buy back Mexican company Cemexa’s 25.53% stake in Gresik, dealers said. Overall sentiment, however, remains cautious due to the ongoing security concerns ahead of the presidential runoff in September, they added. Cement maker Semen Gresik is leading the gainers, up IDR300, or 3.9%, atIDR9,300. |
Sinai Cement posts higher profits17 August 2004, Published under Cement NewsEgyptian cement producer Sinai Cement posted a net profit of 35.24 mln Egyptian pounds (US$5.7m) for the first half of 2004, up from 23.86 mln pounds (US$3.8m) in the same period of 2003. The company registered a 35.8 per cent year-on-year rise in net sales to 153.63 mln pounds (US$24.7m). The company’s sales and distribution costs soared 116.7 per cent to 14.21 US$2.28m and total expenses jumped 190.9 per cent to 24.27m(US$3.9m). |
AXA buys into HeidelbergCement17 August 2004, Published under Cement NewsFrench insurer AXA has acquired a 9.28 per cent stake in cement maker HeidelbergCement, the German company said in a statement on Tuesday. According to Reuters data, that would make AXA the third-biggest shareholder in HeidelbergCement behind Schwenk Zement and pharmaceuticals entrepreneur Adolf Merckle. |
Siam City 2Q04 earnings slow17 August 2004, Published under Cement NewsSiam City Cement (SCCC) reported a slow down in 2Q04 earnings with a net profit of Bt950mn down 21 per cent q-o-q but stable y-o-y. The quarterly slow down was the result of a downturn in sales and gross margins, while selling and administrative expenses were higher. For the remainder of 2004 and next year, the cement business prospects are expected to remain bright, as cement sales will grow around 1.5 - 2x GDP growth or annualised growth of 10 per cent. |
Misr Beni Suef posts profits H1 200417 August 2004, Published under Cement NewsEgyptian cement producer Misr Beni Suef Cement (MBSC) posted a net profit of 19.63m Egyptian pounds (US$3.2m) for the first half of 2004, up 15.7 per cent year-on-year. The company’s net sales rose 83.9 per cent to 125.15m pounds (US$20.1m), while the cost of goods sold rose 47.8 per cent to 67.41m pounds (US$10.8m). |
Jordan Cement Factories H1 200417 August 2004, Published under Cement NewsJordanian cement producer Jordan Cement Factories Co (JCFC) registered an 86.6 per cent surge in net profit to 22.79m Jordanian dinars (US$32.2m) for the first half of 2004 from 12.2 mln dinars (US$17.2m) in the same period of 2003, it was reported on August 14, 2004. |
Cimpor mulls purchase of Loma Negra17 August 2004, Published under Cement NewsPortuguese cement company Cimpor - Cimentos de Portugal SGPS is studying the possibility of purchasing Argentine cement maker Loma Negra, it was reported on August 14, 2004. According to a publication in Portuguese business weekly Semamario Economico, the negotiations for the sale of Loma Negra were discounted a year ago, but the recovery of the Argentine economy made the owners of the cement maker raise the previously agreed sale price. No financial figures were available. The sale is b... |