Cement News tagged under: corporate
RMC: uncertain prospects remain01 March 2004, Published under Cement NewsDeutsche Bank analysts have downgraded RMC to a sell, price target 600p. While the appointment of new management and a turnaround in the troubled UK business have sparked a re-rating of RMC (he stock was up 84 per cent in 2003) the analysts key worry is that the German business will continue to struggle while its peers are recovering: RMC is long ready-mix, short cement in Germany. It needs ready-mix prices to go up. Higher cement prices have less benefit to RMC. Higher cement profits are... |
Kuwait Cement profit rise01 March 2004, Published under Cement NewsKuwait Cement Co posted a net 2003 profit of 19.56 million Kuwaiti dinars (US$66.5m) on Sunday, up 69 per cent from the 11.6 million dinars earned in 2002. The Kuwait Stock Exchange said in a profit report that the cement-makers’ earnings per share climbed to 52.06 fils in 2003 from 30.92 fils in the previous year. The company’s board recommended a cash dividend of 25 fils per share. |
Lucky Cement H1 profit rises01 March 2004, Published under Cement NewsLucky Cement Ltd posted an increase of 89.6 per cent in its half year net profit to Rs 275m compared to Rs 145m same period last year on the back of improved margins and higher sales. In a statement to the Karachi Stock Exchange (KSE) Pakistan, it said the company has also made a deferred tax payment of Rs133m. Most analysts said improvement in profit was mainly on back of overall improved margins for the cement sector companies and higher sales. ³Earnings for the entire sector have improved... |
Lafarge’s running profit falls by 8.1% in 200327 February 2004, Published under Cement NewsThe operating profit at the EBITDA level last year declined by 9.1% to EUR2,820m on a turnover 6.5% lower at EUR13,658m, before adjusting for exchange rates and changes to the sphere of consolidation. The 9.3% fall in the trading profit (EBIT) to EUR1,934m becomes a 6.9% increase when adjusting for movements in exchange rates and changes to the corporate structure. The net interest charge fell by 12.5% to EUR505m to give a running profit before tax 8.1% lower at EUR1,429m. Helped by asset... |
Titan’s profits advance in spite of adverse exchange rate movements27 February 2004, Published under Cement NewsTitan Cement Company reported an unchanged turnover of EUR1,035.7m in respect of 2003 compared with EUR1036.1m in 2002, but ignoring the adverse exchange rate impact, the turnover was ahead by some 9%. Sales of cementitious materials grew by around 6% to 13.4Mt and deliveries of ready-mixed concrete rose by some 15% to 4.9Mm3. The operating profit at the EBITDA level advanced by 1.1% to EUR295.6m as the margin widened from 28.2% to 28.5%. Cement represented 54% of group turnover and 80... |
Heracles pretax profit up25 February 2004, Published under Cement NewsGreek cement producer Heracles said on Tuesday 2003 group pretax profit rose 64 per cent to 117 million euros, helped by strong sales in the domestic market related to Olympic Games projects. Group sales increased 8.7 per cent to 607 million euros, lifting operating income 18.4 per cent to 122.7 million euros, the company said in a statement. It is majority-owned by France’s Lafarge. Heracles shares closed 2.19 per cent down at 8.04 euros versus a 1.76 per cent slide in the broader market .... |
Cement makers hurt by weak demand25 February 2004, Published under Cement NewsIndonesia’s cement industry is expected to remain in the doldrums this year due to various factors such as weak sales growth, excess production capacity, and the rising cost of energy - says the Jakarta Post in a recent report. Chairman of the Indonesian Cement Producers Association (ASI) Soepardjo said that sales volume would likely grow by only three per cent this year, mostly driven by governmental infrastructure projects. "We cannot expect higher growth because consumers’ purchasing ... |
HeidelbergCement boosts 2003 cement volumes by 11.3%20 February 2004, Published under Cement NewsTurnover at HeidelbergCement fell by 3.0% last year to €6,372m, but after adjusting for the lower dollar and changes to the sphere of consolidation there was a marginal increase of 0.4%. Profit numbers will not be announced until the 25th of March. Cement deliveries by the group rose by 11.3% to 51.07m tonnes, helped by the first time consolidation of a number of acquisitions. These accounted for 4,094 new employees to give an average for the year of 37,774, an increase of 2.8%. Helped b... |
SCC building profits to rise 20 per cent19 February 2004, Published under Cement NewsSiam Cement, Thailand’s largest industrial conglomerate, said it expects its revenue from the building material business to rise 20 per cent to 44 billion baht this year on the back of dramatic expansion in the real estate and construction industries. Cementai’s, a subsidiary of SCC, Sales and Marketing, Krij Kulnet, said the construction material sector achieved 37 billion baht sales in 2003. Sales are expected to continue to rise this year with demand for residential projects and the gove... |
Ras Al Khaimah Cement improves19 February 2004, Published under Cement NewsRas Al Khaimah Cement Company, fuelled by the boom in the UAE’s construction sector, has posted a sharp increase profit in 2003 profits. The company earned a net profit of Dh30.02 million for 2003, compared to Dh3.69 million in 2002. Total revenues jumped from Dh40.01 million to a solid Dh65.00 million last year. Earnings per share increased sharply to Dh0.75 from Dh0.09. "The results of Ras Al Khaimah Cement Company are impressive but it was not wholly unexpected because most cement comp... |