Cement News tagged under: corporate
Wolseley increases Irish presence02 August 2004, Published under Cement NewsThe leading European and North American distributor, Wolseley is substantially increasing its presence on the Irish market by the purchase of Brooks Group from the Finnish forest products group UPM-Kymmene for €183m. Brooks Group is the largest timber merchant and the third largest general builders’ merchant in Ireland, active through 18 branches in both the Republic of Ireland and in Northern Ireland, employing a staff of 430. |
Gulf Cement profits rocket02 August 2004, Published under Cement NewsRas Al Khaimah based Gulf Cement Company has reported a 500 per cent surge in profits to US$25.7m in the first half thanks to higher cement sales and prices. Company assets swelled from US$129m at the end of 2003 to US$176.5m. Earnings per share shot up from Dhs0.06 to Dhs0.357. |
Shree Cement: a company to watch?02 August 2004, Published under Cement NewsShree Cement stock stock has the potential to deliver attractive returns over a one/two year period according to Indian analysts. Along with Grasim, Gujarat Ambuja and Madras Cements, Shree Cement is likely to emerge as a preferred play in the sector. The risks to such recommendations are the decline in cement consumption level over the past month and half, which may get accentuated if the monsoon turns out to be indifferent, a second consecutive year of modest growth in volumes and the poss... |
Confident over profits02 August 2004, Published under Cement NewsConfidence Cement, Bangladesh has approved five per cent dividend for its shareholders for the year 2003. The approval came at the 13th annual general meeting (AGM) of the company held in Chittagong recently. Chairman of the company Shamsul Alam presided over the meeting. A large number of shareholders were present at the AGM. |
Pacasmayo H1 profits30 July 2004, Published under Cement NewsPeru’s second largest cement producer Cementos Pacasmayo posted an 11.3% increase in net profits to PEN31m (US$9.07m) for the first half of 2004 compared to PEN27.9m in 2003, according to a filing with the Lima stock exchange, BVL. Net profit for the second quarter grew 40.5% to PEN16.1m from PEN11.5m in the same period in 2003. Sales for the first six months totalled PEN144m , up 10.9% from the PEN130m recorded in 2003. Second quarter sales posted growth of 20.4% to PEN74.1m compared to the... |
St Lawrence Cement 2Q30 July 2004, Published under Cement NewsSecond-quarter net income rose 25% at St. Lawrence Cement Inc, reflecting higher sales volumes and price increases. The company, which supplies products and services to the construction industry, said net was C$27.5m or 67 Canadian cents a share, up from C$22.0m or 53 Canadian cents a year ago. Sales rose 9%, to C$326.8 million. It said its ready-mix operations in Montreal didn’t see a price increase. However, all other markets and product lines did. Sales volumes of cement, mineral compone... |
Portuguese Semapa buys30 July 2004, Published under Cement NewsEnersis, the renewable energy unit of Portuguese cement maker Semapa, bought in co-operation with the largest local bank, state-owned Caixa Geral de Depositos SA (CGD), the entire stake in Renewable Energy System Portugal (RESP) for over Euro 30m. As reported on July 28, 2004, the operation was carried out through Fespect, a financial vehicle created for the purpose jointly with Caixa Capital, the risk capital unit of CGD, which is to be dissolved. Meanwhile, Semapa, which is headed by chai... |
Gujarat Ambuja net up30 July 2004, Published under Cement NewsBuoyed by higher cement prices, Gujarat Ambuja Cements Ltd (GACL), the fourth-largest cement producer, has posted a 50% jump in net profit for the fourth quarter ended June 30 to Rs 117.2 crore, up from Rs 78.4 crore in the corresponding period last year. Net sales turnover surged 26% from Rs 470.6 crore to Rs 595.1 crore. Operating profit shot up 29% to Rs 183.9 crore while profit before tax rose from Rs 81.3 crore to Rs 120 crore. During the three-month period, the company made a provi... |
Vulcan up by 18.7%29 July 2004, Published under Cement NewsTurnover for the first six months grew by 7.5% to US$1,433.8m and the EBITDA advanced by 9.0% to US$279.5m. The aggregates-based business generated a turnover 7.5% ahead at US$1,122.3m to produce an 18.7% improvement in the trading profit to US$164.0m. After a 10% increase in aggregates shipments in the first quarter, second quarter deliveries were some 6% higher, while average prices improved by around 2%. Ready-mixed concrete deliveries were also ahead, boosted by strong housebuilding act... |
Ssangyong returns to black29 July 2004, Published under Cement NewsSsangyong Corp, a South Korean general trading company, said today that it swung to a net profit of 10.19 billion won (US$8.72 million) in the first half, a 214.2 per cent surge from a year ago. The trading arm of Ssangyong Group said its revenue rose 10.9 per cent year-on-year to 670.1 billion won in the January-June period. The company’s operating profit jumped 36.7 per cent to 14.96 billion won, with its ordinary profit jumping 200.5 per cent to 9.75 billion won. The company attribute... |