Cement News tagged under: corporate
Fitch: Spanish tax ruling negative for Cemex28 April 2014, Published under Cement NewsThe recent ruling by Spanish tax authorities to fine Cemex Espana EUR455m will slow the recovery of Cemex’s credit profile but will not result in a negative rating action to the 'B+' rating of Cemex or the 'BB-' of the company's bonds, according to Fitch Ratings. Cemex has announced it plans to appeal this fine, which was levied for alleged underpayment of taxes between 2006 and 2009. Cemex will not have to make payments, in whole or in part, during the appeal process. The timing of the res... |
PPC positive profit alert, South Africa28 April 2014, Published under Cement NewsSouth Africa’s leading cement producer PPC said Friday it is likely to post higher profits in the six months to March this year. Headline earnings per share are likely to rise to be between 30 and 40 per cent higher than the past comparable period due to non-recurring items the company said in a trading statement released last week. The company is continuing with its strategy of expanding outside of South Africa. Earlier this year, it entered the Algerian market by acquiring a 49 per cent... |
Holcim's results boosted by mild winter in Europe28 April 2014, Published under Cement NewsHolcim's first quarter turnover declined by 5.4 per cent to CHF4,088m (€3,342m), but on a like-for-like basis, there was a 7.8 per cent increase while measured in euros the turnover was off by five per cent. The operating EBITDA declined by 5.1 per cent to CHF617m (€504m), but this represents an underlying increase of 10.1 per cent. The trading profit increased by 9.3 per cent to CHF295m (€241m), while the net attributable profit dropped by 57.5 per cent to CHF80m (€65m), as last year's ... |
ACC and Ambuja post diverging results, India25 April 2014, Published under Cement NewsHolcim’s two Indian interests have posted contrasting results for the first quarter of 2014, with ACC’s profit down nine per cent while Ambuja Cement’s net climbs 6.6 per cent. Ambuja Cements reported a net profit of INR5.20bn (US$85.2m) for the first quarter ended March 31, compared with INR4.88bn a year earlier. Sales volume increased two per cent to 6.06Mt. Ambuja's net profit was helped after other income rose by 53.2 per cent to INR1.32bn from a year earlier, according to a company... |
Lucky Cement 9MFY13-14 profit rises25 April 2014, Published under Cement NewsPakistan’s leading cement producer Lucky Cement reported a profit after tax for nine months of PKR8.185bn (US$83m), up 17.2 per cent YoY. Earnings per share (EPS) for the period increased to PKR25.31 against an EPS of PKR21.59 of corresponding period last year. Local sales volumes during the period registered a growth of 7.7 per cent to 2.9Mt compared to 2.7Mt in FY12-13. Exports increased 11.8 per cent YoY to 1.9Mt. The company has recently started production at its joint venture g... |
Tande's term as MD of East African Portland Cement extended, Kenya25 April 2014, Published under Cement NewsKephar Tande's term as managing director of East African Portland Cement Co (EAPCC) has been renewed for a further three years. Industrialization and Enterprise Development Cabinet Secretary Adan Mohamed confirmed the extension of Tande’s tenure, effective from November 2013. "I wish to thank the cabinet secretary and president, Uhuru Kenyatta, for the re-appointment. I am committed to fully implementing the strategy that the company has embarked on to raise its market share and to ensure... |
Gansu Qilianshan quarterly net loss widens, China25 April 2014, Published under Cement NewsGansu Qilianshan Cement Group Co Ltd saw its net loss widen to CNY84.94m in the first quarter of 2014, compared with a deficit of CNY73.63m in the corresponding period of 2013, according to a statement by the company. The northwest China cement manufacturer attributes the decline to growing operational costs in the first three months of the year. |
UltraTech Cement quarterly profit rises 15% YoY24 April 2014, Published under Cement NewsUltraTech Cement reported a 15 per cent rise in net profit of INR8.4bn (US$138m) for the first quarter of the year on cost control initiatives. The company said it saw continuing pressure on input and logistic costs due to the increase in railway freight and a continuous hike in diesel prices. Although there was some relief on account of softening prices of imported coal, the impact was negated by the depreciation of the Indian rupee. However, optimisation of its fuel mix and other initiat... |
Holcim to reorganise Obourg, Belgium24 April 2014, Published under Cement NewsHolcim Belgique announced its plans to adapt the organisational structure of its Obourg cement works near Mons, a step which would affect 48 jobs. The company attributes the reorganisation to the significant fall in Dutch cement consumption and a slowdown in French cement demand. Holcim Belgique serves the markets in the north of France, Belgium, southern Netherlands and western Germany. Holcim says the move is expected to bring the plant back to profitability as its products improve ... |
EC to investigate Cemex and Holcim Spanish deal24 April 2014, Published under Cement NewsThe European Commission said on Wednesday it is investigating plans by Cemex and Holcim over a Spanish deal because of competition issues. "The Commission has concerns that the transaction may reduce competition in certain areas of Spain where the two companies' activities overlap," the EU executive said in a statement. Removing Holcim from the Spanish market “could facilitate coordination” between cement makers, the statement added. Collusion on pricing and customer allocation “could b... |