Corporate

28 August 2015

Bamburi first-half pretax profit jumps 94%

Bamburi Cement reported a 94 per cent jump in first-half pretax profit from a year earlier to KES4.5bn (US$43m). According to Reuters, the company attributed the strong performance to growth in demand in its two main markets, Uganda and Kenya, cost cutting and gains in its dollar-base...

01 September 2015

CRH's first-half driven by the Americas

CRH's first half turnover advanced by 12.6 per cent to €9,370m and the EBITDA improved by 9.9 per cent to €555m. The trading profit increased by 11.2 per cent to €189m and after a net interest charge 8.6 per cent hig...

28 August 2015

CMS Bhd reports stable earnings, Malaysia

CMS Bhd (CMSB) reported a total revenue of MYR867.84m (US$206m) for the first half of 2015, a rise of 14.7 per cent on the MYR756.6m recorded a year earlier. Pretax profit in the first half of 2015 remained stable at...

27 August 2015

UltraTech reportedly nearing deal to buy Bhilai grinding plant, India

UltraTech Cement is rumoured to be in advanced talks to buy Jaiprakash's 2.2Mta grinding plant in Bhilai, Chhattisgarh state, according to local press.  Citing sources familiar with the matter, the reports state th...

27 August 2015

Semen Indonesia's profit may ease this year

Semen Indonesia expects its net profit to drop this year as slowing demand and rising costs put pressure on the company's margin. "We expect revenue to be maintained [at the same level as last year's]. However, our...

27 August 2015

FLSmidth updates full-year guidance

FLSmidth’s order intake and revenue showed solid growth in the second quarter of this year supported by currency developments. However, the company noted that the outlook for the global mining industry has deteriorat...

27 August 2015

New Group CEO for Breedon, UK

Breedon Aggregates Ltd, the UK’s largest independent aggregates business, announced that Pat Ward, currently CEO of Aggregate Industries Europe (a subsidiary of LafargeHolcim), has agreed to join the company as Group...

26 August 2015

Higher production costs take toll on TPCC's half-year results

Tanzania Portland Cement Co (TPCC) posted a net profit of TZS22.17bn (US$10.4m), down 18.3 per cent from the TZS27.14bn recorded during the corresponding period last year. First half revenue climbed to TZS135.74bn a...

26 August 2015

Semen Indonesia to spend up to IDR1trn on buy-back

Semen Indonesia said it plans to buy back up to IDR1trn (US$70.85m) of its shares as their market value has fallen. "In the near future we will do buy-back because we don't want to lose the momentum," Ahyanizzaman, ...

28 August 2015

Aboitiz secures loan to part-fund cement venture

Aboitiz Equity Ventures, Inc. (AEV) has signed an agreement for a US$400m (PHP18.7bn) loan that will partly finance its venture into the cement sector in the Philippines. In a disclosure to the stock exchange dat...

25 August 2015

CNBM reports 56% drop in first-half profit, China

China National Building Materials (CNBM) reported a 56 per cent decline in net profit for the first half of 2015, in line with the recent profit warning. JP Morgan's Asia Metals and Mining Analyst, Daniel Kang, not...

28 August 2015

SCG Cement outlines additional Cambodian spend

SCG Cement has outlined an additional investment of US$200-300m into Cambodia over the next five years, according to Aree Chavalitcheewingul, vice president for regional business of SCG Cement-Building Materials. Ac...

25 August 2015

Moody's upgrades West China Cement to Ba3; stable outlook

Moody's Investors Service has upgraded West China Cement Limited's (WCC) corporate family and senior unsecured ratings to Ba3 from B1. "The upgrade reflects the improvement in WCC's financial profile following the i...

24 August 2015

Lucky Cement signs contract with Siemens Pakistan for SAP system

Lucky Cement Ltd has signed a contract with Siemens Pakistan to implement SAP Enterprise System. "Through SAP, we aim to drive progress through greater integration of our various locations, agility and enhanced effic...

24 August 2015

Malaysia: YTL Corporation Bhd full-year pretax profit down 15.7% YoY

YTL Corporation Bhd's pre-tax profit for the financial year ended 30 June 2015 fell to MYR2.37bn (US$562m) from MYR2.81bn a year earlier. Revenue decreased to MYR16.8bn from MYR19.3bn previously, the company said in...

28 August 2015

China: Huaxin first-half profit plunges 82%

Huaxin Cement reported 1H15 net profit of CNY89m, down 82 per cent YoY, in line with the company’s guidance at the end of July indicating a drop of 80-85 per cent. The Holcim group company said thesix-month declin...