Cement News tagged under: corporate
ACC sees 49 per cent drop in quarterly profit08 February 2013, Published under Cement NewsIndia’s second largest cement producer ACC reported a 49 per cent YoY drop in net profit for the third quarter of the current fiscal. The company, in which Swiss cement major Holcim owns a 50.3 per cent stake, reported a net profit of INR2.39bn compared with INR4.7bn a year earlier for the October-December 2012 period. The year-ago number included an exceptional gain for a tax write-back of INR1.29bn. Excluding this, profit would have fallen 30 per cent. Higher fuel and transportation cos... |
Earthquake reconstruction efforts boost Sumitomo Osaka’s nine month operating profit08 February 2013, Published under Cement NewsSumitomo Osaka Cement is expected to report a strong gain in operating profit for the first nine months of the fiscal year on the back of earthquake reconstruction efforts. The company is expecting a 90 per cent YoY increase in consolidated operating profit to about JPY9bn for the nine months ended 31 December 2012. This would represent the highest figure for the April-December period in five years. Sales were up by approximately four per cent with consumption for ports and roads in the di... |
Lafarge India plans bond issue – report08 February 2013, Published under Cement NewsLafarge India plans to raise INR500 crore through a bond issue, the Economic Times (ET) of India has reported. "The company will raise the bonds in tenors of two-three years," two people familiar with the development told ET. "The coupon may be anywhere around 9.15-9.20 per cent for these bonds, since they are not frequent issuers," said a bond broker from a Mumbai-based brokerage. India Ratings has assigned AA+ rating to the bonds. |
Prosperity Minerals to dispose of its stake in TCC Liaoning, China08 February 2013, Published under Cement NewsProsperity Minerals has signed a conditional sale and purchase agreement with TCC International Holdings Ltd to sell its 16.11 per cent interest in TCC Liaoning for CNY144.5m (approximately US$23m). The company said in a statement that the completion of the disposal is subject to TCC International obtaining the necessary approvals from the Taiwan Investment Commission and its compliance with the listing requirements in Taiwan and Hong Kong Prosperity acquired its interest in TCC Liao... |
HeidelbergCement advances in Asia and Africa, but does less well in Europe07 February 2013, Published under Cement NewsThe preliminary figures from HeidelbergCement show an 8.7 per cent advance in turnover last year to €14,020m, or by 4.2 per cent on a comparative basis. EBITDA improved by a more modest 6.7 per cent to €2477m and the trading profit advanced by 9.5 per cent to €1613m, or by 5.6 per cent adjusting for currency movements and changes in the scope of consolidation. The number of employees declined by 1.1 per cent to 51,966, as a reduction of around people 1200 in North America and Europe was par... |
TCC International issues profit warning07 February 2013, Published under Cement NewsTCC International Holdings Ltd could be facing a 60 per cent drop in 2012 profit due to slowing demand and pricing pressures in China. The company, a subsidiary of Taiwan Cement, filed a profit warning to the Hong Kong Stock Exchange, forecasting that full-year 2012 net profit could drop significantly due to a supply glut and a decline in Chinese cement prices. TCC operates in several provinces in China including Guangdong, Fujian and Anhui. TCC said in a statement that in the first ha... |
Cemex Lat'Am publishes 2012 results07 February 2013, Published under Cement NewsAs a result of the flotation of a minority stake in the Central and South American operations of Cemex, Cemex Latin American Holdings' 2012 results have just been published for the first time, on the eve of the parent company's annual results announcement. The pro forma figures show a 25.4 per cent increase in turnover to US$1591.7m and an EBITDA advancing by 44.4 per cent to US$547.5m as the margin increased from 29.9 per cent to 34.4 per cent. The trading profit showed a 55.3 per cent a... |
Italcementi: European decline largely offset by Asian improvement07 February 2013, Published under Cement NewsItalcementi's group cement shipments in 2012 saw a decline of 6.6 per cent to 45.9Mt with cement volumes being down in Europe and in the Middle East, but improving elsewhere. Group turnover declined by 3.8 per cent last year to €4480.1m, or by 4.9 per cent on a comparable basis and the turnover from cement and clinker was off by three per cent to €2903.5m. In concrete and aggregates, turnover fell by 7.8 per cent to €1280.3m as shipments of aggregates fell by 10.8 per cent to 34Mt and re... |
Holcim (US) names Filiberto Ruiz President and CEO07 February 2013, Published under Cement NewsHolcim US has named Filiberto Ruiz as the company's president and chief executive officer. Ruiz's appointment also includes serving as president and chief executive officer of Aggregate Industries US, a Holcim Group Company. Additionally, Bernard Terver, currently a member of the Holcim Ltd Executive Committee, formerly president and chief executive officer of Holcim (US) and Aggregate Industries US, has been named chairman of the board. "As we look to the future, it is clear that Filibert... |
Eagle Materials trading profit almost trebles, USA07 February 2013, Published under Cement NewsEagle Materials' turnover, including its share of the Texan cement joint venture with HeidelbergCement, rose by 22.7 per cent to US$366.32m for the six months to the end of September and the trading profit virtually trebled to US$53.35m. After a net interest 20 per cent lower at US$7.31m, the pre-tax profit jumped by 424.5 per cent to US$46.04m. Net debt of US$243.9m at the end of September represented 48.6 per cent of shareholders' funds compared with 59.4 per cent a year earlier. Eagle ... |