Cement News tagged under: corporate
TCL reports full-year loss25 February 2015, Published under Cement NewsTrinidad Cement Ltd recorded a loss of TTD211m for last year, as the company wrote down the value of its investment in Arawak Cement Company (Barbados) by TTD153m and in deferred tax assets by TTD86m. TCL chairman Wilfred Espinet said if the one-time impairment expenses were excluded from the results, the profit after tax figure would have amounted to TTD88m, which would have been 166 per cent higher YoY on a like-by-like basis. Revenues rose by nine per cent YoY driven by growth in it... |
Dalmia Bharat increases stake in OCL India25 February 2015, Published under Cement NewsDalmia Bharat has increased its stake in OCL India, one of the largest cement entities in eastern India with plants in Orissa and West Bengal. “The company’s subsidiary Company, Dalmia Cement (Bharat) Limited on February 25, 2015 has increased its stake in OCL India Limited from 48 per cent to 74.6 per cet through inter-se transfer within the promoter group of OCL India Limited,” Dalmia Bharat said in a statement. As a part of the consolidation and growth of the cement sector, the Dalmia B... |
Dewan Cement sales rise 23% YoY25 February 2015, Published under Cement NewsPakistan-based Dewan Cement Ltd (DCL) reported a 1.46 per cent decline in half-year profit to PKR202m (US$1.98m) compared to PKR202m a year earlier. However, sales increased by 23 per cent from PKR4.4bn to PKR5.42bn during 1HFY14-15. Distribution costs increased from PKR74m to PKR197m in half year period (July - December 2014). No cash dividend or bonus shares were earmarked for shareholders. DCL owns the Pakland Cement and Saadi Cement plants in Pakistan, which have a combined cap... |
Upbeat outlook for Siam Cement PLC25 February 2015, Published under Cement NewsKasikorn Securities (Thailand) has reinitiated coverage of Thai conglomerate Siam Cement PLC with an 'Outperform' rating due to renewed optimism in domestic cement consumption and further improvement in its chemical business' profitability. The research house says the Thai cement industry is expected to resume its organic growth at about 6-7 per cent in 2015. “We believe that the industry has already passed the bottom with the government’s planned investment in major infrastructure projec... |
Holcim to sell Siam City Cement stake, Thailand24 February 2015, Published under Cement NewsSiam City Cement PCL (SCCC), Thailand's second-largest cement maker, said on Monday Holcim has decided to sell its 27.5 per cent stake in the company. SCCC said in a statement that Thai Roc-Cem Ltd, Holcim's indirect wholly-owned subsidiary, will sell 63.29 million shares of SCCC, but Holcim gave no details about the divestment or when the sale would be finalised. At the end of 2012, Holcim reduced its stake in SCCC from 36.8 to 27.5 per cent. The shares were purchased by Bangkok Broadcast... |
Lafarge uplifts its dividend proposal24 February 2015, Published under Cement NewsLafarge's Board of Directors has decided to fix the proposed 2015 ordinary dividend at EUR1.27 per share, the company announced in a statement. This adjustment aims at equalising dividends to be paid by Lafarge and Holcim based on the dividend announced today by Holcim in accordance with the Combination Agreement between Lafarge and Holcim signed on 7 July 2014. In the context of the planned merger, the Board of Directors also decided to propose an acceleration of the payment date of the L... |
Indonesia: producers' shares fall on Widodo price move24 February 2015, Published under Cement NewsShares of two of Indonesia’s leading cement producers have lost at least 13 per cent from their July 2014 peak following the decision by the country’s new president to impose price cuts on state-owned cement manufacturers. During the presidential election last July, shares of PT Holcim Indonesia and PT Semen Indonesia jumped to one-year highs fuelled by bets that Widodo’s US$18bn infrastructure spending pledge would boost domestic cement demand and lead to an earnings windfall. However, la... |
Holcim sees 3% improvement in like-for-like net sales23 February 2015, Published under Cement NewsHolcim increased net sales by three per cent on a like-for-like basis in 2014. Growth mostly resulted from price improvements in many regions, particularly in North America against a favourable market environment as well as a response to cost inflation in Latin America. An unfavourable currency effect of 5.2 per cent and negative changes in consolidation structure impacted the consolidated net sales performance in 2014 which was down 3.1 percent to CHF19,110m (US$ 17.8 bn). Like-for... |
Lucky Cement first-half profit up 8.5%23 February 2015, Published under Cement NewsPakistan's leading cement producer, Lucky Cement, reported a profit after tax of PKR5.6bn (US$55.1m) during the first half of FY14-15 versus PKR5.16bn a year earlier. During the six-month period, net sales rose nine per cent YoY to PKR21.4bn. The increase is attributed to a 9.2 per cent uptake in sales volumes to 2.02Mt, a 2.24 per cent improvement in exports to 1.23Mt and a 2.91 per cent rise in net retention. According to Al Habib Capital Markets, Lucky Cement's margins remained sta... |
UAE: Gulf Cement net profit down 11.3%23 February 2015, Published under Cement NewsGulf Cement, which is listed on the Abu Dhabi Securities Exchange, said last week it booked a net profit of KWD4.7m (US$15.9m), down 11.3 per cent from KWD5.3m a year earlier. For the fourth quarter of 2014, the UAE-based cement producer slipped into a net loss of KWD1m, versus a net profit of KWD1.8m in the corresponding period of 2013. |