Cement News tagged under: international
Indian cement dispatches register monthly decline in September28 October 2010, Published under Cement NewsCement dispatches in India reached 12.56Mt in September, up seven per cent YoY from 11.74 in 2009, but down two per cent on the previous month of August. Year-to-date cement dispatches (April-September) reached 81.1Mt, up six per cent compared to the same period last year. Cement production followed a similar trend, with production volumes year-to-date were 81.54Mt, six per cent higher compared to the same period last year. |
Strong growth in Pakistan construction investment - report28 October 2010, Published under Cement NewsThe Pakistan government said that Foreign Direct Investments (FDI) in the construction sector have been impressive over the last five years (2006-10). In FY10 alone, foreign investment PKR8bn (US$94m) was invested in Pakistan against PKR7bn in FY09, a central bank annual report released this week noted. According to the State Bank of Pakistan’s (SBP) annual report for the last fiscal year (2009-10) which makes a fair assessments of the cement sector (investment, production, capacity ut... |
Cemex – mixed rating from analysts28 October 2010, Published under Cement NewsCemex posted worse-than-expected results on Tuesday but won more flexibility from its bankers to pay back debt, leaving analysts divided on whether to buy or sell. Cemex is depending on a comeback in the US market to pay back the US$9.7bn it owes its banks after buying Australia’s Rinker just as the U.S. housing market tanked in 2007. But that recovery has still not taken hold. The company is also grappling with weak sales in Spain. Of the nine analysts consulted by Reuters, two have a "bu... |
Suez Cement nine-month net profit dips, Egypt28 October 2010, Published under Cement NewsOver the first 9 months of 2010 Suez Cement group, composed of Suez Cement Company, Helwan Cement Company and Tourah Portland Cement Company, and all the affiliated companies reported a consolidated net sales of EGP4,687m, down 2.1 % compared to the same period of 2009. Gross profit and operating income amounted respectively to EGP1,698m and EGP 1256m while the net profit ”after non-controlling interest” amounted to EGP906,7m – down 8.5 % compared to the same period of 2009. Over the first... |
Oman’s Raysut Cement to buy UAE producer28 October 2010, Published under Cement NewsRaysut Cement, Oman’s largest cement producer by market value, will buy the United Arab Emirates’ Pioneer Cement Industries, the company said in a statement on the Omani bourse on Thursday. Raysut’s chief financial officer said on Sunday the company was holding acquisition talks with several companies and was expecting to reach a deal within a month. "This project will serve the strategies and goals of the company and will add more value to the shareholders and investors of the company,"... |
Eagle Materials’ volumes improve in the Buda joint venture28 October 2010, Published under Cement NewsEagle Materials’ turnover, including its share of the Texan cement joint venture with HeidelbergCement, edged ahead by a marginal 0.1 per cent to US$299.79m for the six months of the end of September. The trading profit, on the other hand, fell by 20.9% to US$41.5m. Other expenses were down by 11.2 per cent and the net interest charge fell by 24.9 per cent to US$8.4m, giving a pre-tax profit 22.25 per cent lower at US$25m. Turnover from cement was three per cent lower at US$128.1m, with t... |
Grasim Industries sees challenging 2Q, India28 October 2010, Published under Cement NewsGrasim Industries Limited, an Aditya Birla Group Company, today announced its results for the second quarter ended 30th September 2010. It was a challenging quarter for the cement sector marked by a fall in prices due to oversupply on the one hand and the slowdown in construction activity during monsoons on the other. Net profit for the quarter was at INR323 crore as against INR781 crore in the corresponding quarter. The restructuring of the cement business was completed with the merger ... |
Saudi Yamama Cement boosts net profit 19% YoY27 October 2010, Published under Cement NewsSaudi cement producer Yamama Cement Company said it registered a 19% YoY rise in its net profit for the nine months through September 2010 to SAR 497m (US$135.5m) from SAR417m a year ago. For the third quarter of 2010, the company booked a net profit of SAR140m, an increase of 12% on the year. The strong increase was attributed to a rise in sales as a result of higher local demand, Yamama Cement said without giving exact figures. The earnings per share (EPS) stood at SAR3.68, up from SAR3... |
UltraTech announces second-quarter results27 October 2010, Published under Cement NewsUltraTech’s performance for the second quarter reflects the first financial results post the amalgamation of Samruddhi Cement Limited with the Company. The results include the performance of Samruddhi with effect from 1 July, 2010 which was the Appointed Date for the amalgamation. The results for the corresponding Quarter of FY10 have been re-casted to include Samruddhi’s performance for like-for-like comparison and are strictly not comparable with the corresponding period of the previous ye... |
Thailand: Siam Cement 3Q net profit down27 October 2010, Published under Cement NewsSiam Cement (SCC) , Thailand’s biggest industrial conglomerate, posted a 6.2 per cent fall in quarterly net profit on Wednesday, weighed down by lower profits from its cement and petrochemical businesses. Siam Cement reported a net profit of THB6.56bn (US$219.6m), or THB5.46/share, in the quarter ended September 30, down from THB6.99bn a year earlier. |