Cement News tagged under: corporate
UltraTech Cement28 January 2014, Published under Cement NewsHigher costs and unexpectedly low demand have been blamed for a 38.43 per cent fall in net profit in 4Q13 for UltraTech Cement, India’s leading cement producer. Domestic cement and clinker sales came in at 9.7Mt, down from 9.94Mt in the same period last year. Total expenses were up five per cent due to higher freight costs, which alone rose by six per cent, and the increased cost of diesel, resulting in EBITDA coming in below expectations at INR7.96bn. It was hoped that the government’s p... |
PPC28 January 2014, Published under Cement NewsDomestic cementitious sales by PPC grew 6.2 per cent in 9M13, compared to the same period in 2012. Between January and September last year, sales reached just over 9Mt, compared to 8.52Mt in 9M12. PPC has announced plans to spend US$276m in capital expenditure in 2014 including construction of a 1Mta plant near Kimpese in the Democratic Republic of Congo. The company is bracing itself for the arrival of Dangote this month in the form of Sephaku Cement and its new grinding plant in Delm... |
Qatar National Cement posts US$119.7m net profit in 201328 January 2014, Published under Cement NewsQatar National Cement Company registered an increase in net profit to QAR436m (US$119.7m) for the 12 months to December 2013, compared to QAR425.3m a year earlier, the company said yesterday in a bourse filing. Earnings per share (EPS) stood at QAR8.88, up from QAR8.66. The company's board of directors has proposed a 60 per cent cash dividend for 2013, translating into QAR6/share. |
Al Jouf reports 75% drop in quarterly net profit, Saudi Arabia28 January 2014, Published under Cement NewsAl Jouf Cement posted weak fourth-quarterly financial results, with earnings declining by 74.59 per cent YoY and 16 per cent QoQ to SAR6.1m (US$1.6m). The results missed Al-Rajhi Capital estimates of SAR22m and consensus forecast of SAR20m. Al-Rajhi believes that the company’s weak performance was a result of a decline in the value and volume of sales due to sluggish cement demand during the quarter following government’s initiatives to expel 2m illegal expatriate labourers which led to t... |
Henan Tongli anticipates full-year decline, China28 January 2014, Published under Cement NewsHenan Tongli Cement Co Ltd expects 2013 net profit to decline to between CNY40m and CNY80m (US$6.6m and US$9.9m), a YoY decline of 51.28-75.64 per cent, the company said in a statement. The Shenzhen-listed cement manufacturer attributes the downward trend in performance to decreasing sales price. |
December profit but full-year deficit remains for INC27 January 2014, Published under Cement NewsParaguay’s Industria Nacional de Cemento (INC) grossed PYG4bn (US$860,080) in December, according to its president, Jorge Mendez. It is the third-consecutive month that the cement producer returns a positive balance and the company attributes it to the implemented financial and commercial measures. However, while in the October-December period, profits reached PYG7.435bn, for the full-year 2013, the company remains in deficit at PYG20bn. The state-owned cement producer has a current o... |
Exane BNP downgrades Lafarge to “underperform”24 January 2014, Published under Cement NewsExane BNP Paribas downgraded its opinion on Lafarge from “outperform” directly to “underperform”. However, the analysts raised the target price from EUR50.5 to EUR58. “Lafarge is exposed to structural problems, including in the Middle East and Africa, where the company has more than 40 per cent of its equity invested,” says Exane. The commissioning of new capacity in these always offers attractive returns, which leads to competition and creates downward price pressures. But Lafarge’s eco... |
Semen Indonesia in joint venture talks24 January 2014, Published under Cement NewsSemen Indonesia is in early talks to establish joint ventures with three potential partners, the company’s president director, Dwi Soetjipto, has revealed. Speaking to local press, Dwi said that three investors have “declared their interest to create joint ventures with Semen Indonesia,” including investors from Indonesia and overseas. Indonesia’s leading cement producer is still reviewing the proposals and has yet to make a decision on whether the partnerships would be the right strat... |
KHD misses 2013 margin guidance, Germany23 January 2014, Published under Cement NewsKHD Humboldt Wedag of German has said it will miss its margin guidance for the 2013 financial year due to “unexpected profit deterioration in the latest cost estimations of a few major projects.” In a statement released yesterday, the Germany-based equipment supplier said that according to preliminary unaudited figures, it will close 2013 with a “significant increase in revenues”, EBIT of between EUR1-2m and an EBIT margin of less than one per cent. AVIC International Beijing has re... |
Attock Cement first-half profit declines, Pakistan23 January 2014, Published under Cement NewsPakistan producer Attock Cement reported a nine per cent decline in net profit for the the first half of FY14 to PKR871m (US$8.26m). “The decline in profitability of the company is due to a higher tax rate,” JS Global Capital analyst Atif Zafar said, adding that inflationary pressures, particularly higher electricity rates in August last year negatively affected earnings. In the second quarter, earnings fell to PRK449m compared to PKR601m in the same quarter of FY13. However, going for... |