Cement News tagged under: corporate
Asia Cement forecasts higher 1H net profit12 July 2013, Published under Cement NewsAsia Cement (China) expects its unaudited net profit to more than double for the six months to the end of June 2013 compared to the same period of last year. The 100 per cent forecasted increase in first half net profit was primarily attributable to the increase in sales and a decrease in coal costs compared to 1H12, the company said. Asia Cement's interim results are expected to be published at the end of August. |
Texas Industries fourth-quarter net profit declines, sales rise11 July 2013, Published under Cement NewsTexas Industries Inc reported that its fourth-quarter net income declined to US$44.14m as the prior-year results included a higher gain from asset sales. However, the company benefitted from continuing recovery in major markets and from the commissioning of new cement capacity and ready-mix acquisitions in Texas. Net income declined to US$44.14m from US$60.21m in the same quarter last year. The latest results included income net of tax from discontinued operations of US$28.5m. The comp... |
Qassim Cement first-half net profit rises, Saudi Arabia11 July 2013, Published under Cement NewsQassim Cement posted a SAR334.6m (US$89.2m) net profit for the first half of 2013, up from SAR307.4m a year ago. The company attributed the increase to a rise in sales coupled with lower expenses, but did not provide any exact figures. Earnings per share (EPS) stood at SAR 3.72, compared with SAR 3.42. |
ARM's 1H13 pretax profit rises 28%, Kenya10 July 2013, Published under Cement NewsAn increase in sales has helped ARM Cement, Kenya's second-largest cement producer, to achieve a double-digit rise in pretax profit. Pretax profit for the six months ended June jumped to KES1bn (US$11.51m), a rise of 28 per cent YoY, the company said in a statement. Cement sales rose by 28 per cent YoY in the reporting period. The company, which operates a 0.75Mta clinker plant at Kaloeni, near Mombasa, and a 1Mta grinding works in Athi River, has a total grinding capacity of 1Mta. It... |
Steppe Cement 1H turnover boosted by higher prices10 July 2013, Published under Cement NewsIn the first half of the year, Kazakhstan-based cement producer Steppe Cement reported an eight per cent decline in volumes YoY but turnover rose by six per cent thanks to higher prices. During the January-June 2013 period, the company sold 564,440t of cement compared with 615,838t in the first half of 2012. Overall sales in Kazakhstan rose by 11 per cent during the period an the share of imports rose marginally from 14 to 15 per cent. Steppe Cement saw its market share drop from 19 p... |
TCC International expects profits to double in 1H1310 July 2013, Published under Cement NewsTCC International expects to double net profit attributable to shareholders in the first half of this year compared to the same period of 2012. The increase is mainly attributed to the group’s improved operations in southwest China and a corresponding rise in its profit contribution during the period, ET Net News reports. The advanced profits are due to a increase sales and a significant improvement in gross profit margins. |
Buzzi Unicem launches bonds, Italy09 July 2013, Published under Cement NewsItaly’s second-largest cement producer Buzzi Unicem launched on Tuesday the placement of equity-linked bonds worth EUR200m maturing in July 2019. The bonds may be converted into ordinary shares of the company, subject to approval of an extraordinary general meeting, according to a statement by Buzzi. They will be issued at par and be offered with a yearly coupon between 1.275 per cent and 2.125 per cent, payable semi-annually, it added. |
Vicem sales rise 17.3% in first half 201309 July 2013, Published under Cement NewsVietnam Cement Industry Corporation (Vicem) sold 11.69Mt of cement and clinker in the first six months of 2013, representing a YoY increase of 17.3 per cent and fulfilling 51.9 per cent of its whole-year target. The corporation, which is the largest cement producer in the Southeast Asian country, produced 8.3Mt of cement and 8.2Mt of clinker in the six month period, a rise of 11.8 and 14.6 per cent, respectively, the Ministry of Construction said in a statement. Revenue reached VND14.89trn... |
Huaxin subsidiary to buy 20% of Shide Golden Eagle Cement, China08 July 2013, Published under Cement NewsHuaxin Cement announced that its wholly-owned subsidiary Huaxin (Hong Kong) International Holdings, has signed an agreement with Starry Cosmos Group Ltd to acquire a 20 per cent equity in the latter’s Shide Golden Eagle Cement (Hong Kong) Co. Shide Golden Eagle Cement (Hong Kong) owns 99.8 per cent equity in Enping Shide Golden Eagle Building Material Co. Enping Shide is constructing a 4000tpd new dry-process cement clinker production line. Huaxin Hong Kong will hold 65 per cent of Shide... |
India: power advantage for Madras Cements05 July 2013, Published under Cement NewsAnalysts predict that Madras Cements Ltd should record 9-10 per cent volume growth through FY14 and FY15 on the back of power generation projects, additional capacity and a gradual improvement in the cement market. Given that power comprises a significant portion of cement production costs and given Madras Cements’ presence in the power-starved southern states of Tamil Nadu and Andhra Pradesh, the new captive power source is a huge advantage for the company over its peers. The company ... |