Cement News tagged under: corporate
SCG reports third-quarter results, names new chief28 October 2015, Published under Cement NewsSiam Cement Group (SCG), Thailand's largest industrial conglomerate, said on Wednesday its quarterly net profit rose 15 per cent YoY as improved margins from petrochemical products offset weak performance of cement and packaging businesses. July-September net profit was THB9bn (US$253.59m). But profit dropped 19 per cent from the previous quarter due to weaker chemical prices and inventory loss. New CEO named Meanwhile, the company has named Roongrote Rangsiyopash as the next presiden... |
Japan: Sumitomo Osaka Cement operating profit seen rising28 October 2015, Published under Cement NewsJapan-based Sumitomo Osaka Cement's group operating profit is expected to jump 13 per cent for the April-September half on rising sales and declining coal prices, according to a Nikkei earnings preview report. The profit of around JPY10bn (US$82.1m) would be a record for the half, surpassing guidance of JPY9.1bn. Sales likely grew three per cent to around JPY115bn, edging above guidance of JPY113bn, according to the newspaper. The report said domestic demand for cement used in public works... |
Dangote Cement 9M15: new operations help offset weaker domestic demand27 October 2015, Published under Cement NewsDangote Cement said nine-month profit gained 12 per cent as its new operations across the African continent helped offset weaker demand in its home market of Nigeria. Net income was NGN158bn (US$794m) in the nine months through September, compared with NGN141bn a year earlier, the company said in a statement on Monday. Sales rose 18 per cent to NGN366bn. Lower oil prices and a weaker currency were among factors weighing on the Nigerian business, where sales declined 0.7 per cent. “Our n... |
Eagle Materials reports record quarterly cement earnings and volumes27 October 2015, Published under Cement NewsEagle Materials Inc posted yesterday record quarterly Cement and Paperboard division operating earnings as demand for the company's building materials and construction products remained strong in each of its regional markets “Eagle's construction products and building materials businesses continued to perform exceptionally well during the second quarter, with the Cement and Paperboard businesses reporting record quarterly operating earnings and our wallboard and concrete and aggregates b... |
Lafarge Africa Plc profit slips 6.5%27 October 2015, Published under Cement NewsLafarge Africa Plc has reported a profit after tax of NGN29bn (US$145.7m) for the nine months ended 31 September 2015, compared with NGN31bn recorded in the corresponding of 2014. The company said Nigerian unit Ashaka Cement's numbers were affected by the unrest during the start of the year, explaining that Ashaka has since returned to normal operations. It added that industrial performance was strong, with stable plant operations across the board. The South African business continues to b... |
Lafarge Malaysia Bhd considers Sarawak investment27 October 2015, Published under Cement NewsLafarge Malaysia Bhd is considering to re-operate in Sabah and Sarawak regions amid the huge potential, its newly-appointed president and chief executive officer, Thierry Legrand, has indicated. Mega projects in the region include the MYR16.1bm Pan Borneo Sarawak Highway. Mr Legrand told local press that the company would consider proposing the usage of cement and concrete-based material in the construction of the highway.| Meanwhile, concrete division vice president Rick Pucci said Lafar... |
ARM swings to nine-month net loss, Kenya27 October 2015, Published under Cement NewsAthi River Mining (ARM) posted an after-tax loss of KES469m (US$4.6m) for the nine months to the end of September 2015, largely attributable to the depreciation in regional currencies against the dollar. The cement maker, which reported an after tax profit of KES1.1bn in the same period of 2014, said revenue for 9M15 rose seven per cent to KES11.7bn, thanks to increased cement sales in Kenya and in Tanzania. While the demand for cement grew more than 10 per cent during the period, "the sha... |
LafargeHolcim successfully completes squeeze-out of Lafarge SA26 October 2015, Published under Cement NewsLafargeHolcim today announced on Friday it has successfully implemented the squeeze-out of Lafarge SA. With this the shares of Lafarge SA are now delisted from Euronext Paris as of today. "The completion marks an important and final step in the merger process of the Group’s legacy companies and allows LafargeHolcim to continue focusing on delivering the synergies and progress with the integration," the company said in a statement. With the successful squeeze-out LafargeHolcim Ltd now owns... |
HeidelbergCement reduces refinancing needs by further €500m26 October 2015, Published under Cement NewsHeidelbergCement has taken another step to optimise the financing of the Italcementi acquisition. The volume of the bridge financing could be reduced by further EUR500m from EUR3.8bn to EUR3.3bn. The refinancing needs in the bond market declined by EUR500m to around EUR2.5bn, correspondingly. Decisive for the reduction of the financing volume was that some of Italcementi’s creditor banks have agreed to waive their change of control clauses. As a consequence, HeidelbergCement will have acc... |
China Resources Cement nine-month net profit drops 61%26 October 2015, Published under Cement NewsChina Resources Cement said its profit attributable to owners for the nine months ended 30 September 2015 dropped 60.6 per cent YoY to HKD1282.2m. Turnover was HKD19,752m, a decrease of 15.5 per cent from a year earlier. The consolidated gross margin for the period was 24.4 per cent, representing a decrease of 6.7 percentage points from 31.1 per cent for the corresponding period last year. The decline was mainly attributable to lower selling prices of cement and clinker as compared with th... |