Cement News tagged under: corporate
CRH hit by hard winter21 August 2013, Published under Cement NewsCRH's first-half turnover declined by 3.2 per cent to €8007m and the EBITDA fell by 24 per cent to €397m. The trading profit dropped by 74.7 per cent to €41m and the pre-tax result fell from a €102m profit to a loss of €71m in spite of a 3.3 per cent reduction in the net interest charge to €146m. A restatement to reflect accounting changes reduced last year's pre-tax profit from €117m to €102m. The net attributable result went from a €98m profit to a €57m loss. Net debt at the end of Jun... |
Australia: Boral suffers AUD212m annual loss21 August 2013, Published under Cement NewsBoral's net loss in the year to 30 June was down from a AUD177m (US$159.5m) profit in the FY11-12. It suffered a AUD212m (US$191m) annual loss. The fall in revenue was caused mainly by a AUD316m cost in asset write-downs and restructuring. The company also recorded the loss of 2130 jobs. However, underlying profit was AUD104m, up three per cent from the previous year. Chief executive Mike Kane said the company continued to face significant challenges. "We experienced low levels of activity... |
Malaysia: Lafarge's LMCB secures loan agreement21 August 2013, Published under Cement NewsLafarge Malaysia Cement Bhd (LMCB) has converted the MYR580.69m (USS$225m) fixed rate notes due 2013 into an inter-company term loan with M-Cement Sdn Bhd. The company executed a loan agreement with M-Cement to convert the notes into a five-year inter-company term loan. M-Cement is the sole note holder. The conversion of the notes into an inter-company loan does not have any impact on the consolidated net debt position of the Lafarge Malaysia Group. Following the latest development, Lafarg... |
Pakistan’s Cherat Cement Co to raise production capacity21 August 2013, Published under Cement NewsCherat Cement Company Ltd (CCCL) of Pakistan plans to increase production capacity at its 2500tpd cement plant, situated 52km from Peshawar near Nowshera in northern Pakistan. The company is expected to hold negotiations with various cement plant suppliers in due course. At present, the works is operating near full capacity and with the expected growth in the domestic cement market, the company’s Board has decided to raise capacity at the works. Furthermore, its strategic location close t... |
Strengthening a market leader21 August 2013, Published under Cement NewsThe merger of Cementos Lima and Cemento Andino into Unacem in 2012 led to the strengthening of Peru’s cement market leader. By combining forces, the new company benefits from improved competitiveness, operational synergies and significant cost savings. In addition, it moves the company into pole position to offer greater stock market liquidity and secure future investment. By Unacem, Peru. Following the expansion of Kiln 1, Unacem’s Atocongo plant has a cement capacity of 5.5Mta ... |
CRH 1H13 revenues slip20 August 2013, Published under Cement NewsCRH saw its sales revenue for 1H2013 fall by three per cent, or six per cent on a like-for-like basis, from EUR8.271bn to EUR8.007bn. EBITDA reached EUR0.4bn, representing an 18 per cent YoY drop when excluding pension and CO2 gains. However, when including these figures, EBITDA lost more ground, decreasing from EUR523m to EUR397m and in line with its forecast. While May-June trading in Europe lagged expectations, and the company’s Materials operations in the Americas continued to be impac... |
Holcim’s cement sales in Romania down 0.7% in 1H1319 August 2013, Published under Cement NewsSwiss building materials producer Holcim’s cement and clinker sales fell 0.7 per cent in the first half of the year in Romania, compared to the first six months of 2012, while the domestic cement prices were up 3.1 per cent, according to the company’s latest report. The company’s volume of aggregates sales in 1H13 dropped by 27.7 per cent YoY in Romania, while the domestic aggregates prices decreased by an annual 15.8 per cent. In Europe, Holcim’s cement and clinker sales went down 1.5 per... |
Anhui Conch first-half net profit rises, China16 August 2013, Published under Cement NewsAnhui Conch Cement Co Ltd reported a net profit of CNY3.06bn (US$500.6m) in the first half of 2013, a rise of 4.89 per cent rise compared to the same period of the year before. The company's gross profit margin rose 1.40 percentage points to 28.49 per cent in the period, due mainly to lower raw material cost. Operating revenue rose 14.73 per cent YoY to CNY23.59bn in the first half, boosted by an increase in the sales volume of cement and clinker. Sales of cement and clinker total... |
Najran Cement appoints new board chairman, Saudi Arabia16 August 2013, Published under Cement NewsNajran Cement has approved the appointment of Mohammed bin Mani bin Sultan Aba al-Ala as board chairman and managing director, with a three-year term. The company also named Daifullah al-Ghamidi deputy board chairman. |
Holcim profit leaps, sales below expectations16 August 2013, Published under Cement NewsHolcim’s first-half results were boosted by higher net income but sales disappointed, particularly in India, the group's key market in Asia. For the full-year, the Swiss major now expects more muted earnings growth than previously forecast. For the first six months to the end of June, Holcim's turnover declined by 5.1 per cent to CHF9649m, or by 6.9 per cent in euro terms to EUR7847m. The running EBITDA was 3.4 per cent lower at CHF1819m while the trading profit eased by 3.3 per cent to CH... |