Cement News tagged under: corporate
Siam City double-digit rise in earnings and sales23 April 2014, Published under Cement NewsSiam City Cement Co (SCCC) reported a double-digit rise in earnings and sales during the first quarter of 2014, as higher cement prices and increased exports help offset declines in its domestic market of Thailand. SCCC said yesterday to the Stock Exchange of Thailand that earnings rose 56 per cent YoY to THB1.9bn as net sales rose 14 per cent to THB8.65bn. Thailand’s second-largest cement producer attributed the rise in revenue to higher average selling prices and a rise in exports despit... |
Cemento Melón cuts investments to US$15m due to 10% sales decline23 April 2014, Published under Cement NewsChile’s Cemento Melón has seen sales drop by 10 per cent in the first quarter of 2014. "Earlier this year we estimated that we would at least maintain 2013 sales, but in the first quarter the market fell about 10 per cent, and we saw sales drop by a similar number," Jorge Eugenin, the company’s CEO, said. In addition, as the cement industry is nearly 100 per cent dollarised, the depreciation of the Chilean peso has also impacted profit margins as costs jumped. In terms of investments m... |
Al Jouf first-quarter earnings drop, Saudi Arabia23 April 2014, Published under Cement NewsAl Jouf Cement posted a drop in earnings of about 40 per cent YoY to SAR15m (US$4m), missing Al-Rajhi Capital’s estimates of SAR 17.8m but exceeding consensus estimate of SAR13m, the research house said in a recent report. Al-Rajhi Capita believes the cement producer’s weak performance was on account of the declining sales volumes given the stiff competition it faces from competitors in the northern region, coupled with the falling demand due to the slowdown in construction activities. |
Henan Tongli plans share issuance, China22 April 2014, Published under Cement NewsHenan Tongli Cement Co Ltd plans to issue 48m shares to China United Cement Group Corp at CNY6.32 per share via a private placement, according to company announcement yesterday. The central China-based producer intends to spend CNY303m worth of proceeds from the issuance to repay bank loans and replenish working capital. The placement is pending approval by the China Securities Regulatory Commission. |
Najran secures finance for waste heat project21 April 2014, Published under Cement NewsNajran Cement has signed a SAR150m Sharia-compliant loan facility with Banque Saudi Fransi, aimed at financing the company’s waste heat recovery project. The loan has a maturity period of five years (April 18, 2014 until December 31, 2019). It will be repaid in six quarterly instalments at SAR25m each, starting from September 30, 2018 until December 31, 2019. |
Cementir Holding announces dividend21 April 2014, Published under Cement NewsCementir Holding today announced a cash divined of EUR8.0c per ordinary share, as early indications for the first quarter of 2014 are positive and better than expected. |
Saudi Arabia: Northern Cement 1Q14 profits surge 42%21 April 2014, Published under Cement NewsNorthern Region Cement Company reported SAR60,761,806 profit over the Jan-Mar 2014 period, up 42 per cent compared with SAR42.79m over the same period in the year before. |
Asia Cement (China) reaches Sichuan purchase deal18 April 2014, Published under Cement NewsAsia Cement (China) Holdings Corp, the Chinese unit of Taiwans second-biggest cement maker, has reached a share purchase deal with Sichuan Lanfeng Cement Co. In a filing with the Hong Kong Stock Exchange, Asia Cement (China) said it had acquired 100 per cent of the equity interest in Sichuan Lanfeng for CNY2.005bn (US$322.25m) through its wholly-owned subsidiary Sichuan Yadong Cement Co.Upon the completion of the acquisition, Sichuan Lanfeng will become a wholly owned subsidiary of Sichuan... |
Saudi: Arabian Cement quarterly net profit up 6.2% YoY18 April 2014, Published under Cement NewsSaudi-based Arabian Cement Company (ACC) posted a SAR167.1m (US$44.6m) net profit for the first quarter of 2014, up 6.2 per cent from SAR157.3m a year ago. Earnings per share (EPS) stood at SAR 2.09, compared with SAR1.97. |
Semen Baturaja sales up 24% in first three months18 April 2014, Published under Cement NewsIndonesian state-owned cement maker PT Semen Baturaja's first-quarter sales rose 24 per cent to 305,000t from a year earlier. The cement producer has also opened a new cement mill with a capacity of 750,000tpa, according to a report from Kresna Securities. Baturaja said it plans to join fellow Indonesian manufactures on the Indonesia Stock Exchange and “may go public in the next two years,” Sadikin Aksa, managing director of Bosowa Corp told the Jakarta Globe last week. |