Cement News tagged under: corporate
Acquisitions push up HeidelbergCement’s volumes09 August 2004, Published under Cement NewsTurnover at HeidelbergCement rose by 7.5% to EUR3,242m in the first half of this year, with the EBITDA climbing by 22.5% to EUR485m. Helped by the inclusion of China Century Cement and Indocement, deliveries of cement and clinker were 29.2% higher at 30.71Mt. The trading profit for the period almost trebled from EUR81m to EUR240m, helped by the elimination of EUR82m of goodwill amortisation, but ignoring this there was still an improvement of 47.3%. However, the consolidation of the Indo... |
Kuwait Portland Cement H106 August 2004, Published under Cement NewsThe net profit of Kuwaiti cement trader Kuwait Portland Cement fell to 2.77 mln Kuwaiti dinars (US$9.4m) in the first half of 2004 from 6.54 mln dinars ($22.2m) in the same period of 2003. Kuwait Portland Cement reported a net profit of 1.11 mln dinars ($3.8m) for the second quarter of 2004, down from 2.97 mln dinars ($10.1m) in the corresponding period of 2003. EPS fell to 16 fils ($0.054/0.045 euro) from 42 fils ($0.143/0.118 euro). Kuwait Portland Cement, which trades in cement and c... |
Thailand’s SEC charges06 August 2004, Published under Cement NewsThe Securities and Exchange Commission has filed a criminal complaint against Prachai Leophairatana, Stern Stewart (Thailand) and TPI Polene Plc for the alleged disclosure of false information regarding the cement company’s share price on the Stock Exchange of Thailand. The complaint was filed with police investigators yesterday. The SEC accused Mr Prachai, as the debt rehabilitation plan administrator for TPI Polene, and consultancy Stern Stewart of disseminating information leading to... |
ACC continues to improve06 August 2004, Published under Cement NewsIndian Cement companies have enjoyed a significantly better operating environment in the June quarter, and this is reflected in ACC’s results. The takeaway from ACC’s results is that price realisations are approximately 15 - 17 per cent higher year-on-year, enough to offset increases in raw material costs like coal. As a result, ACC’s profit before tax and exceptional items has grown by 54 per cent to Rs 111.86 crore in the June quarter. While ACC is no doubt an all-India player, it has bee... |
Tasek Corp net profit up 180%06 August 2004, Published under Cement NewsMalaysian Tasek Corporation Bhd’s net profit surged some 180% to RM50.69 million for its financial year ended June 30, 2004 from RM18.1 million a year earlier due to higher demand for cement, pricing and margin. Its turnover rose by 19.2% to RM272.68 million from RM228.69 million while its earnings per share increased to 27.59 sen from 9.85 sen a year earlier. |
HeidelbergCement Q2 pretax flat at EUR204m05 August 2004, Published under Cement NewsHeidelbergCement AG said its second quarter pretax profit fell to 204 mln eur from 207 mln on foreign exchange losses, while sales rose. The world’s fourth largest cement maker by output saw second quarter net profit rise to EUR159m from EUR139m on strong sales in Asia and Turkey. Overall, sales reached EUR1.895bn from EUR1.793bn. The company’s Indocement Indonesian unit, which records earnings in US dollars and Japanese yen, posted foreign exchange losses of EUR40m. HeidelbergCe... |
Indian shares lower on soaring oil prices04 August 2004, Published under Cement NewsShares are expected to fall for a second straight day on Wednesday, with sentiment weighed down by record high oil prices, brokers said. US light crude oil futures hit a record high on Wednesday at $44.25 a barrel after the OPEC producers’ cartel said there was little the group could do to cool the red hot market for the time being. The economy is sensitive to oil prices as it imports about 70 per cent of its crude needs. But brokers said local factors such as better rains, strong cement... |
Cement Contractor Invests $18m04 August 2004, Published under Cement NewsShareholders of Devcon International Corp, a publicly held $55 million contractor known for its Caribbean construction and concrete businesses, have approved the creation of a security division headed by former ADT president and CFO Steve Ruzika. The July 29, 2004 vote approves the purchase of two million newly issued Devcon shares, which raises $18 million for the creation of an investment group called the Coconut Palm Capital Investors I Ltd. The company’s goals are to purchase firms that w... |
Vicat sales rise03 August 2004, Published under Cement NewsFrench building materials supplier Vicat SA reported sales of Euro 792m for the first half of 2004, a 10 per cent rise from the first six months of 2003. The group posted a Euro 448.2m turnover for the second quarter of 2004, up 11.2 per cent year-on-year, Vicat said. The group, which is listed on the Paris market, currently employs a total 5700 in France, the United States, Turkey, Senegal, Switzerland, Egypt and Italy. Vicat operates several cement plants, concrete plants, and quarrie... |
Indonesia Gresik Q2 net soars on sales03 August 2004, Published under Cement NewsSemen Gresik reported on Tuesday a jump in second-quarter net profit as new construction spurred demand and historically low interest rates reduced debt payment costs. Semen Gresik saw net profit jump 69 per cent to 99.17 billion rupiah ($10.9 million) in the three months ended June 2004, compared to the same period last year, according to Reuters calculations based on first-half results. Gresik’s market share rose to 45 per cent in the first six months of this year from 42.6 per cent, ... |