Cement News tagged: Corporate
India Cements: back in the black
India Cements has reported a profit for the July-September quarter on higher income and lower expenses following a loss in the same period of the previous year. For the three months to the end of September 2014, the company posted a net profit of INR7.5 crore against loss of INR22.5 crore in the year-ago period. Total income from operations grew by 3.84 per cent to INR1136 crore in the q...
UAE: National Cement nine-month net profit up 2% YoY
UAE-based producer National Cement Company said on Wednesday its net profit for the first nine months of 2014 rose 1.97 per cent to AED77.5m (US$21.1m) from AED76m in the corresponding period of 2013. Earnings per share (EPS) stood at AED 0.22, compared with AED 0.21. Revenue of the building materials producer fell to AED161.9m from AED174m.
India Cements board to consider raising INR5bn, mulls MSE delisting
India Cements today said its board will consider a proposal to raise INR5bn (US$81.3m) from investors. "The Board of Directors at its meeting will, consider the following issue of QIP, FCCB, GDR and/or other securities for a total sum not succeeding INR500 crore”, India Cements said in a filing to the BSE stock exchange. The board would also consider delisting of its shares from the Madras S...
Raysut Cement nine-month net profit up 8% YoY
Raysut Cement, Oman's biggest cement producer, reported an eight per cent increase in net profit to US$60.21m compared with US$55.71m in the same period of last year. Revenue was US$183m for the period, just ahead of the US$182m recorded in the first nine months of 2013. "While there are positive signs of growth in Oman market, the same is not being translated into cement demand due to ...
South Valley to bid for additional shares in BMIC, Egypt
South Valley Cement Company voted on Sunday to bid for no less than 30 per cent of Egyptian Building Materials Industry Company (BMIC), to add it to the 47.61 per cent of the shares that it currently owns. The offer is aimed at the 30.07 per cent held by Egypt Kuwait Holding Company but will also be extended to other investors in BMIC interested in selling their shares, South Valley Cement an...
TCC International unit to acquire Hunan Jindadi Materials Company Ltd
TCC International (Hong Kong) Company Ltd, a wholly-owned subsidiary of TCC International Holdings Ltd, has entered into an agreement to acquire 100 per cent stake in Hunan Jindadi Materials Company Ltd. Hunan Jindadi Materials is a China-based manufacturer and seller of cement, clinker, concrete products and gravel aggregate products, from Peng Zhongxi, Liu Xingjun, Ma Jianjun, Xiang Zeqia...
Grupo Argos to issue preferential shares in 1Q15
Colombian holding Grupo Argos is planning to issue a base amount of 50m preferential shares in the first quarter of 2015 on the local and international markets, subject to the approval from Colombia's financial watchdog. Argos, parent company of Colombia’s leading cement producer Cementos Argos, seeks to strengthen its equity and bolster growth. Details of the issuance could be given in mid...
Macedonia: Cementarnica Usje net profit climbs 13% YoY
Macedonia’s sole cement producer Cementarnica Usje AD Skopje said its net profit for the first nine months of 2014 climbed by 13 per cent to MKD1.25bn (EUR20.2m). Operating revenue rose six per cent to MKD3.1bn through the first nine months of this year, while operating costs remained flat at some MKD1.9bn, the company said in an unconsolidated financial statement to the Macedonian Stock Exc...
CRH's nine-month results show growth
In its autumn trading statement, CRH said that turnover improved by three per cent in Europe and by five per cent in the Americas, or four per cent overall. EBITDA should be ahead by around 10 per cent on both sides of the Atlantic, having seen a 27 per cent rise during the first half (+61 per cent in Europe and broadly unchanged in the Americas). Depreciation and amortisation charges are ...
Cementir boosts pretax profit
Cementir's turnover for the first nine months of 2014 declined by 3.7 per cent to EUR714.7m as the Turkish and Egyptian currencies declined against the euro and Italian volumes fell further. EBITDA, however, did increase by 10 per cent to EUR127.7m and the trading profit advanced by 31.7 per cent to EUR66.8m. After a net financial charge that was reduced by 72.4 per cent to EUR3.1m, the p...
Lafarge to acquire complete control of Unicem
Lafarge Nigerian Cement Holdings said on Monday it had entered into an agreement with Flour Mills of Nigeria to purchase a 30 per cent stake in United Cement Company of Nigeria Ltd (Unicem). The deal will give Lafarge's Nigerian Cement Holdings complete control of the country's third-largest cement manufacturer, Reuters reported. "Pursuant to the agreement, a first 15 per cent tranche would ...
Kuwait Portland Cement 9M14 net profit up 32% YoY
Kuwait Portland Cement’s net profit increased by 32 per cent in the first nine months of the year to KWD8.64m (US$29.7m) from KWD6.57m a year earlier, the cement trader said in a bourse statement yesterday. Earnings per share (EPS) increased to 95.1 fils from 72.3 fils. Without disclosing exact figures, the company attributed the increase to higher sales, coupled with a rise in revenue f...
Italcementi reduces nine-month loss
Italcementi's turnover declined by 3.1 per cent to €3,217.5m in the first nine months the year and the running EBITDA eased by 0.6 per cent to €469.3m. Very substantially lower re-organisation costs and a 12.1 per cent reduction in depreciation and impairment charges resulted in the trading profit staging a 48.1 per cent recovery to €160.9m. The net interest charge rose by 15.7 per cent to ...
Buzzi Unicem's US profits grow
Buzzi Unicem's turnover for the first nine months edged ahead by 0.2 per cent to EUR1898.7m while EBITDA improved by 10.8 per cent to EUR302.5m. The trading profit was ahead by 15.1 per cent to EUR136.1m and net financial charges declined by 38 per cent to EUR50.7m. The contribution from associates increased by 22.6 per cent to EUR36.1m, and the pre-tax profit advanced by 77.3 per cent to E...
UltraTech acquires 51% interest in Omani mining firm
UltraTech Cement Middle East Investments, a subsidiary of UltraTech Cement, has acquired a 51 per cent interest in Omani mining company Awam Minerals LLC. Awam Minerals possess a licence for mining substantial gypsum deposits in the south of Oman, which will serve as a captive mine for UltraTech Cement's network of plants. UltraTech Cement. India’s largest cement producer, also operates two ...
Dangote Cement to reduce capex next year
Dangote Cement expects to slow its capital spending next year to around US$700m, as it completes most of its African expansion projects, its chief executive told Reuters on Wednesday. Edwin Devakumar said Africa's biggest cement operation budgeted to spend around US$1.4bn this year, as it ramps up its cement works from Senegal to Zambia. "This year we may end up with a capex of close to US$1...