Cement News tagged under: corporate
Nigeria: Dangote Cement Plc gross revenue soars20 November 2013, Published under Cement NewsIn the 1H13 Dangote Cement Plc's gross revenues grew by 29 per cent to NGN288.9bn (US$1.8bn) for the 3Q13, from NGN224.5bn recorded in the corresponding period 3Q12. Dangote Cement recorded a profit before tax (PBT) of NGN151.7bn for the nine-month period to September 2013, an increase of 43 per cent YoY from NGN106.4bn in 3Q12. Operational expenses grew by 57 per cent to NGN33.6bn in the nine months through to September 2013, while finance cost reduced by five per cent to NGN9.1bn in t... |
Holcim's India's rejig plan receives FII support20 November 2013, Published under Cement NewsHolcim may have won minority shareholder support for its restructuring plans in India on strong backing from foreign institutional investors (FII) who control just over 30 per cent of its subsidiary, Ambuja Cements. According to analysts, the FII includes some 359 foreign portfolio investors, which is expected to be sufficient to overcome opposition from domestic institutional investors including LIC, the largest institutional shareholder with a 6.1 per cent stake. But state-owned insure... |
Malaysia: Lafarge's net profit rises by 24.7%20 November 2013, Published under Cement NewsLafarge Malaysia Bhd's net profit for the third quarter ended 30 Sept 2013 rose 24.7 per cent to MYR120.2m (US$37.7m) from MYR96.4m a year ago. Its revenue climbed 2.7 per cent YoY to MYR728m compared with MYR708.8m earlier. Earnings per share stood at 14.2 sen from 11.3 sen last year. In a filing with Bursa Malaysia, Lafarge said the higher revenue was mainly due to higher sales volume in cement and concrete in line with growth in market demand. For the nine months ended 30 Sep, Laf... |
China: Qingsong Building Materials acquires Xinjiang cement business20 November 2013, Published under Cement NewsXinjiang Qingsong Building Materials & Chemicals (Group) Co Ltd has acquired a 31.64 per cent stake in Yili Nangang Building Materials (Group) Co Ltd for CNY169m (US$27.7m), the company announced. After the acquisition, Qingsong Building Materials' stake in the Xinjiang Uyghur Autonomous-based company increased to 51 per cent, further expanding cement market shares in the region. |
PPC's preliminary report, year-end Sept 201319 November 2013, Published under Cement NewsPPC's South African cement sales volumes rose by seven per cent, while industry sales for the nine months ending June 2013 increased by 4.2 per cent. Strong volumes were recorded in the Gauteng and inland regions despite increased industrial action in these markets. Volumes in the coastal regions also recorded growth despite rising imports and a particularly wet winter season. Imported cement, which is not subject to import duties and is excluded from national statistics, accounted for an ... |
Brazil: CSN reports 3Q13 earnings19 November 2013, Published under Cement NewsCompanhia Siderurgica Nacional (CSN)announced its results for the 3Q13 and 9M13, posting a record net revenue of BRL4.7bn (US$2bn) in 3Q13, 15 per cent up on 2Q13. Year-to-date net revenue came to BRL12.4bn, also a new record. The adjusted EBITDA totalled BRL1.7bn in 3Q13, 51 per cent up on the BRL1.1bn recorded in 2Q13, fuelled by the mining and steel segments. The consolidated EBITDA margin reached 31 per cent in 3Q13, the highest quarterly figure since 4Q11. Net revenue from steel opera... |
Anglo American announces the sale of Tarmac Building Products to Lafarge Tarmac15 November 2013, Published under Cement NewsAnglo American Plc said it will sell Tarmac Building Products Ltd to Lafarge Tarmac Holdings Ltd, the 50:50 joint venture of Lafarge's and Anglo American's construction materials and services businesses in the UK. The deal is subject to regulatory approvals, and details are confidential, it said. Tarmac Building Products is a supplier of heavy building products, including construction blocks, bagged aggregates and cement products. The transaction may close in the first half of 2014. |
SCG reports 53% increase in 3Q net profit14 November 2013, Published under Cement NewsThailand's largest industrial conglomerate, Siam Cement Group, reported a 53 per cent increase in third-quarter net profit while its cement and building materials division showing the highest rise in revenue. Net profit for the quarter totalled THB9.79bn (US$309.77m) which the company attributed to the continued recovery of chemicals margins and volume, growth in the domestic cement demand, as well as a non-recurring gain of THB1.7bn. In the quarter, combined revenue rose nine per cen... |
Titan helped by stronger US performance14 November 2013, Published under Cement NewsTitan's turnover increased by 4.9 per cent to EUR888.3m in the first nine months of 2013, but the EBITDA declined by 5.5 per cent to EUR153.6m. However, the third quarter did see a 21.9 per cent improvement in the EBITDA. There was no credit from the sale of emission rights compared with a EUR24m gain at this stage last year in respect of Greece and Bulgaria. The trading profit for the nine months was 6.7 per cent lower at EUR65.2m and, after a 55.1 per cent jump in net financial charges,... |
Holcim gets FIPB approval for India restructure14 November 2013, Published under Cement NewsHolcim has received approval from the Foreign Investment Promotion Board (FIPB) of India to merge Holcim India Private Ltd (HIPL) with Ambuja Cements as part of plans to streamline its operations there. Holcim, which holds majority stakes in ACC and Ambuja Cements, announced plans in July to consolidate operations. In a two stage deal, Ambuja will first acquire a 24 per cent stake in HIPL for a cash consideration of INR35,000m (US$~600m), followed by a stock merger between HIPL and Ambuja.... |