Cement News tagged under: corporate
Titan's US profits more than double11 March 2016, Published under Cement NewsTitan's turnover rose by 20.7 per cent in 2015 to EUR1397.8m and EBITDA improved by 19.2 per cent to EUR216.4m. Following an 24.4 per cent increase in the depreciation and impairment charge to EUR130.7m. boosted by a EUR11.6m impairment charge in the USA, the trading profit declined by 3.2 per cent to EUR108.9m. The net financial charge was 1.7 per cent higher at EUR66.8m while the foreign exchange gain was 43.9 per cent lower at EUR17.4m in the previous year. The pr-tax profit was 10 per... |
Cementir reduces debt but also net profit11 March 2016, Published under Cement NewsCementir Holding's turnover in 2015 recovered by 2.2 per cent to EUR969.0m, but EBITDA emerged just 0.8 per cent ahead at EUR194m. The trading profit, however, declined by 6.3 per cent to EUR97.61m while the net interest line went from a negative EUR4.6m to a positive EUR4.0m and the pretax profit improved by 2.2 per cent to EUR101.6m. Higher tax and minorities charges gave a net attributable profit 5.8 per cent lower at EUR67.5m. Net debt at the end of 2015 was 20.2 per cent lower at EUR... |
TCL reports second consecutive year of record revenues11 March 2016, Published under Cement NewsTrinidad Cement Co Ltd said it recorded its highest ever revenue of TTD2.1bn (US$319m), an increase of TTD12.4m compared to a year earlier despite facing increased competition. The increase represents the second consecutive year of record revenues The 2015 revenue growth was mainly driven by a 12 per cent rise in cement sales volumes in Jamaica and a 16 per cent increase in clinker sales volumes. Pro fit after tax amounted to TTD428.7m compared with losses of TTD211m in the prior year w... |
Bamburi Cement full-year pretax profit rises 46%11 March 2016, Published under Cement NewsKenya's Bamburi Cement posted a 46 per cent rise in full-year pretax profit to KES8.46bn (US$83.51m), helped by increased sales and investment income and foreign exchange gains. The LafargeHolcim group company said turnover rose by nine per cent to KES39.2bn. Bamburi said it made a foreign exchange gain of KES104m from a loss of KES170m in 2014, while investment income rose to KES374m from KES349m. "Turnover increased ... driven by increased demand in the key domestic markets in Kenya an... |
Cemex announces pricing of US$1bn in Senior Secured Notes10 March 2016, Published under Cement NewsCemex announced today the pricing of US$1bn of its 7.750 per cent Senior Secured Notes due 2026 denominated in US Dollars. The notes will bear interest at an annual rate of 7.750 per cent and mature on 16 April 2026. They will be issued at a price of 99.986 per cent of face value and will be callable commencing on 16 April 2021. The closing of the offering is expected to occur on 16 March 2016, subject to satisfaction of customary closing conditions. Cemex intends to use the net proceeds f... |
Breedon's full-year trading performance09 March 2016, Published under Cement NewsBreedon Aggregates Ltd reported continued improvement in trading performance for full-year 2015, with record results from both England and Scotland. Group revenue increased by 18.1 per cent to GBP318.5m as the UK construction sector continued to recover. Breedon reported that trading conditions in England remained stronger than in Scotland, but both divisions delivered record results in 2015. Group underlying EBITDA increased to GBP54.9m and its underlying EBITDA margin improved to 17... |
Dalmia Bharat to take full control of cement subsidiary09 March 2016, Published under Cement NewsDalmia Bharat has received approval from the Competition Commission of India to acquire a 15 per cent stake in its subsidiary Dalmia Cement Bharat from private equity firm KKR. Post-acquisition, Dalmia Cement Bharat Ltd (DCBL) will become a wholly-owned subsidiary of Dalmia Bharat Ltd (DBL). “Dalmia Bharat Ltd (DBL) signed a definitive agreement with KKR, under which it will acquire KKR's 15 per cent stake in DCBL in return of KKR getting 8.5 per cent stake in DBL as well as INR6bn [US... |
Suez Cement says profit transfers hit by foreign currency crisis in Egypt09 March 2016, Published under Cement NewsSuez Cement is struggling to transfer shareholder profits out of Egypt because of a foreign currency crisis, Reuters reports. Egypt has been struggling to revive its economy since the uprising in 2011 that drove major sources of foreign currency such as foreign investors and tourists away. Pressure for a devaluation of the pound has been building but the central bank has kept it fixed at 7.7301 pounds per dollar. The bank has been trying to conserve hard currency by prioritising its use fo... |
CRH subsidiary challenges competition authority searches09 March 2016, Published under Cement NewsIrish Cement, a subsidiary of CRH, has brought a legal challenge to the seizure of certain emails of a senior CRH executive during a search as part of an investigation into alleged anti-competitive practices, according to a report in the Irish Independent. The Competition and Consumer Protection Commission was not entitled to "essentially run riot" in the premises of Irish Cement at Platin, Co Meath, and just seize all material, regardless of relevance to the purpose of its search, Paul Sre... |
Change at the top for thyssenkrupp India09 March 2016, Published under Cement NewsRavi Kirpalani will join thyssenkrupp India on 14 March 2016 and take charge as the CEO of the regional headquarters of thyssenkrupp India effective 1 July 2016. Indian-born, Kirpalani's last role was the Managing Director of Castrol India Ltd. Prior to joining thyssenkrupp he spent over 16 years at BP where he held a number of roles in India and in the UK. He will provide ongoing support for the strategic development of all thyssenkrupp’s business in India. He succeeds Dr Micha... |