Cement News tagged under: corporate
West China Cement profit edges ahead21 March 2014, Published under Cement NewsWest China Cement reported a 3.6 per cent YoY rise in pre-tax profit to CNY475.08m (US$76.4m) for the year ending 31 December 2013, compared to CNY458.58m a year ago. Net income attributable to shareholders rose to CNY378.32m from CNY364.88m. Earnings per share were on a par with last year at CNY0.883. Revenue increased by 18.3 per cent to CNY4.17bn from CNY3.52bn in 2012. Cement sales volumes rose by 23.1 per cent last year to approximately 17.6Mt for the year from approximately 14.3M... |
Lafarge WAPCO pretax profit jumps21 March 2014, Published under Cement NewsLafarge's WAPCO announced on Thursday that its 2013 full-year pretax profit rose 30.3 per cent to NGN27.7bn (US$168.3m). The Nigerian unit of the French cement major also said revenue jumped to NGN98.79bn from NGN87.76bn the previous year. |
Egypt: South Valley to invest in expansion, coal usage20 March 2014, Published under Cement NewsSouth Valley Cement is due to sign a contract for a five-year long-term loan agreement worth EGP1.2bn (US$172.4m) from the Arab African Bank to increase production capacity and utilise coal. Ahmed El Miqaty, member of the board of directors, revealed that the company will spend EGP600m on expanding its factory and investing in new technology to increase capacity, according to AlMal Newspaper. The rest of the loan will be used to buy equipment to grind and ignite coal, for which the company... |
Peruvian domestic dispatches stable19 March 2014, Published under Cement NewsCement dispatches in Peru edged up 0.14 per cent in Jan-Feb 2014 to 1,639,454t when compared with the equivalent period of the previous year, according to Peru’s cement association, Asocem. However, producers saw a 25.3 per cent YoY drop in exports, which reached 32,569t. Cement production in the country’s cement plants fell 1.2 per cent to 1,657,696t when compared with Jan-Feb 2013. |
Morocco: February cement sales slip 5.4%19 March 2014, Published under Cement NewsMoroccan cement sales decreased by 5.4 per cent in February, resulting in a drop of 9.1 per cent in the first two months of 2014, according to the country’s Ministry of Finance. While the market continues to contract, when compared with the same period of 2013, the decrease is less marked. In Jan-Feb 2013, sales fell by 18.4 per cent. The ministry attributed the improvement to the recovery in real estate credit, which it believes will pave the way for further advances in the coming mo... |
Misr Beni Suef revenues boosted by higher prices19 March 2014, Published under Cement NewsMisr Beni Suef Cement (MBSC) saw a 20 per cent rise in revenues in 2013 to EGP1.32bn (US$189.6m) as higher cement prices compensated for lower volumes. Total sales volumes dropped seven per cent YoY, implying a utilisation rate of 89 per cent compared to 96 per cent in 2012. Domestic shipments accounted for 75 per cent sent of the company’s sales while the remainder was exported. Meanwhile, its average cement prices for the year stood at EGP494/t (US$71) up 28 per cent YoY. Gross prof... |
HeidelbergCement Supervisory Board extends Dr Scheifele and Dr Nägar agreements, Germany19 March 2014, Published under Cement NewsThe Supervisory Board of HeidelbergCement has decided to extend the Managing Board agreements of Dr Bernd Scheifele, chairman of the Managing Board, and Dr Lorenz Nägar, chief financial officer, by a further five years. The new term of agreement for Dr Scheifele runs until the end of January 2020 while Dr Näger’s has been extended to the end of September 2019. Fritz-Jürgen Heckmann, chairman of the Supervisory Board of HeidelbergCement AG, said following the Supervisory Board meeting on 18... |
Fujian full-year net profit declines19 March 2014, Published under Cement NewsFujian Cement earned a net profit of CNY19.05m (US$3.074m) in 2013, a YoY decline of 30.38 per cent. Operating revenue rose by 12.4 per cent YoY to CNY1.82bn. The company attributed the downward trend in net profit to plant closures while it carried out technology upgrade projects, as well as a decrease in cement prices. |
UBS raises China Resources target price, maintains ‘buy’ rating18 March 2014, Published under Cement NewsUBS has raised its target price for China Resources Cement to HK$7.3 from HK$6 and maintained its ‘buy’ rating. The research house expects the South China cement market to remain solid in 2014-15. Market quoted cement prices in Guangzhou and Nanning have been CNY110/t (32.8 per cent) and CNY90/t (33.3 per cent) higher YoY, respectively. UBS said the Chinese cement producer is negotiating with the local government about taxes and it could receive a rebate in 2014. It has upgraded Chi... |
Carthage Cement appoints new Board member, Tunisia17 March 2014, Published under Cement NewsDuring Carthage Cement’s Annual General Meeting of Thursday, 13 March, Kais Jamaia was appointed as a new Board member, representing the Tunisian government. Mr Jamaia was previously a member of the General Audit Office. Since entering production last November, Carthage Cement has produced 66,599t of cement. "The rate of production is maintained between 7000tpd and 7500tpd of clinker," Riadh Ben Khalifa, CEO of Carthage Cement, said. Mr Khalifa added that he expects the impact of withdra... |