Cement News tagged under: corporate
Clinker sales boost Northern Region 3Q profit04 November 2014, Published under Cement NewsSaudi Arabian cement maker Northern Region Cement Co reported on a 2.6 per cent YoY increase in its third-quarter net profit to SAR51.35m (US$ 13.69m), fuelled by higher clinker sales. Operating profit grew almost 20 per cent on a YoY basis to SAR 58.33m. Gross profit gained 16.9 per cent to SAR 69.48m. Net profit for the first nine months fell 4.8 per cent in annual terms to SAR 174.2m, mainly due to increased sales, marketing and financing costs and decreased returns on investment. ... |
Cemex03 November 2014, Published under Cement NewsFor the first nine months of the year, Cemex' turnover edged ahead by 0.7 per cent to US$11,352.7m, but EBITDA eased by 0.3 per cent to US$2001.2m. The trading profit improved by 12.3 per cent to US$926.3m while the net interest charge increased by 8.3 per cent to US$1139.4m. The pretax loss was reduced by 27 per cent to US$174.3m, but a 53 per cent increase in the tax charge led to a 39.7 per cent rise in the net attributable loss to US$586.7m. The net debt at the end of September was 3.7 p... |
HeidelbergCement03 November 2014, Published under Cement NewsHeidelbergCement India, which markets its cement under the Mycem Cement brand, sold 17.7 per cent less cement at 2.21Mt, though in the third quarter a 20.9 per cent increase was recorded. The share of turnover generated in central India rose from 67 per cent in the first nine months of 2012 to 80 per cent this year, as the output of the Damoh and Jhansi works in central India rose by 44 per cent, while those in the south and west registered a 24.6 per cent reduction. The turnover for the ... |
Lafarge03 November 2014, Published under Cement NewsLafarge WAPCO Cement Nigeria, one of Lafarge's two main subsidiaries in Nigeria, has reported a 6.3 per cent increase in turnover to NGN74.27bn (US$492m) for the first nine months of 2013, giving rise to a pretax profit of NGN20.66bn. In the third quarter, the pretax profit jumped by some 65 per cent, though turnover was just five per cent ahead, as the three-week maintenance period that was taken in the comparative period last year and led to the import of clinker, did not re-occur this ti... |
Holcim03 November 2014, Published under Cement NewsACC Ltd in India increased cement deliveries in the three months to the end of September by 2.6 per cent to 5.546Mt, while the nine-month figure was off by 0.5 per cent at 18.08Mt. The turnover for the nine months fell by 2.7 per cent to INR82.15bn (US$1.3bn), with EBITDA falling by 29.7 per cent to INR12.682bn and the pretax profit declining by 15.3 per cent to INR9.764bn. At the net attributable level, however, there was a 1.2 per cent improvement to INR8.19bn. Expansion work at the Jamul... |
Taiwan Cement Corp subsidiary in Chinese acquisition03 November 2014, Published under Cement NewsTaiwan Cement Corp announce that it plans to spend CNY676m (US$1117m) to acquire Sichuan Railway Group Cement via a subsidiary as part of its plans to increase its presence in China. The acquisition is being made through the company's subsidiary TCC International. Upon completion of the deal, Taiwan Cement's total clinker and cement capacity would be increased by 1.6Mta and 2Mta, respectively . Currently, TCC International, which is listed in Hong Kong, operates two plants in Sichuan: ... |
PPC calls shareholder meeting to consider board overhaul03 November 2014, Published under Cement NewsSouth Africa's leading cement producer, PPC, said on Friday that it would convene a meeting of shareholders next month "to consider the removal of the entire existing board" after three shareholders holding a 10 per cent stake requested it. The company said in a filing to regulators that the meeting "is likely to occur in the first half of December" and will also consider the "proposed elections of certain persons nominated" by the said shareholders. A further announcement will be made w... |
Moody's says WCC's profit warning is credit negative03 November 2014, Published under Cement NewsMoody's Investors Service says West China Cement Ltd's (WCC) profit warning for 2014 is credit negative. On 29 October 2014, WCC announced that its consolidated net profit for 2014 will fall substantially from 2013, based on preliminary results for the first nine months ended 30 September 2014. "Moody's expects WCC to demonstrate a lower EBITDA margin which will in turn increase its debt/EBITDA ratio, and will therefore continue to position the company weakly within the B1 rating level,... |
PT Holcim Indonesia secures loans from Bank Sumitomo03 November 2014, Published under Cement NewsPT Holcim Indonesia Tbk said it secured loans worth IDR1trn (US$82.54m) from PT Bank Sumitomo Mitsui Indonesia, to refinance loans to its holding, Holderfin BV The Netherlands, and other financing firms. The company's total debt to its holding company reached IDR1.25trn. |
Semen Indonesia 9M14 profit up 4.9%31 October 2014, Published under Cement NewsSemen Indonesia, the country's leading cement producer, recorded a net profit of IDR4.09trn (US$336.3m) in the first nine months of this year, a 4.9 per cent increase from the IDR3.9trn recorded a year earlier. The state-owned producer’s revenues surged by 10.9 per cent during the January to September period to IDR19.3trn from IDR17.4trn in the same period of last year. However, a foreign exchange loss of IDR56.3bn as of the third quarter of this year, more than a double from IDR22.6bn in ... |