Cement News tagged: Corporate

FLSmidth releases interim report 1H13

23 August 2013, Published under Cement News

Danish turnkey supplier FLSmidth announced that its 1H13 order book has slipped, while revenues are also down. The company said : "Cement earnings were significantly below last year as expected. Order intake decreased 30 per cent, but revenue increased 37 per cent, whereas EBITA decreased 37 per cent." FLSmidth had expected the market to remain fairly subdued between January-June 2013 and it...

Turkey: Cimsa Cimento's 1H13 net profit gains

23 August 2013, Published under Cement News

Cimsa Cimento has seen a big rise in its 1H13 profits on the back of increased investment and higher sales. Consolidated net profit grew to TRY218m (US$110m) from TRY49m a year earlier. The first-half performance was mainly driven by income from investment activities of TRY143m compared to just TRY 9m a year earlier. First-half domestic sales rose 22 per cent to TRY 334m, while sales a...

India: delayed asset sale could help Jaiprakash Associates

23 August 2013, Published under Cement News

To overturn its spiralling debts, Jaiprakash Associates (JA) has been actively seeking to sell off its 4.8Mta cement plant in Gujarat. The release of such assets is seen as a necessity to aid the company's profitability and its stock rating. The company's current net debt levels are estimated at INR602.8bn (US$9.33bn) and JA aims to reduce this amount by INR60bn-70bn (US$9.3bn-10.85bn) The c...

Dangote cement defers LSE listing

23 August 2013, Published under Cement News

Dangote Cement has delayed plans for its listing on the London Stock Exchange (LSE) to 2014. Alhaji Aliko Dangote, chairman of Dangote Group, had announced the company intended to float a 20 per cent stake in Dangote Cement to finance its rapid expansion. Dangote's Vice Chairman, Alhaji Tajudeen A Sijuade, told Citi Business News, the company is on track to meet the stringent corporate govern...

Australia: Adelaide Brighton achieves higher profit

Australia: Adelaide Brighton achieves higher profit

22 August 2013, Published under Cement News

While sales volumes for the full year to December at Adelaide Brighton are expected to be similar to 2012, the company is making headway on revenue earnings. It reported a 4.5 per cent increase in revenue to a record half-year result of AUD579.3m (US$520.7m) and a 2.9 per cent increase in underlying net profit after tax to AUD60.9m for the half year ended June. A a number of projects are exp...

Lafarge Philippines benefits from strong cement demand

23 August 2013, Published under Cement News

Domestic cement demand in the 1H13 has seen a sharp rise in the Philippines as sales have jumped by 6.2 per cent compared to the same period in 2012. “The continued increased in infrastructure and other construction projects launched by the government such as farm-to-market, roads coupled with sustained demand from the private and commercial sector, contributed to the growth,” said Lafarge ...

Sri Lanka's Tokyo Cement profits up six-fold

Sri Lanka's Tokyo Cement profits up six-fold

22 August 2013, Published under Cement News

Lower raw material costs have aided profits at Sri Lanka's Tokyo Cement group. In the June 2013 quarter profits rose 660 per cent to LKR611m (US$4.63m) from a year earlier. The factors affecting cement sales in the country have changed significantly from last year when raw material costs were hurting cement producers and the government, which is in charge of cement prices, delayed a price hik...

Cherat Cement earns INR1.22bn

22 August 2013, Published under Cement News

There were mixed reactions to Cherat Cement's FY13 results. JS Global said it was below expectations, while analysts at AHL Research thought the earnings were "respectable". Cherat Cement Company reported profit after tax (PAT) for the financial year ended 30 June 2013 at INR1.22bn (US$0.18bn) translating into earning per share (eps) at INR12.80. It represented growth of 180 per cent YoY ove...

Carthage Cement to start production September 2013

23 August 2013, Published under Cement News

Tunisia's Carthage Cement is expected to produce its first bag of cement on 2 September, according to Riadh Ben Khelifa, managing director of Carthage Cement. The cement plant represents an investment of TND836m (US$510m), of which TND500 as loans by 14 banks. Carthage’s MD added that the company is currently awaiting permission to establish a bag manufacturing plant as well permits to u...

CRH hit by hard winter

23 August 2013, Published under Cement News

CRH's first-half turnover declined by 3.2 per cent to €8007m and the EBITDA fell by 24 per cent to €397m. The trading profit dropped by 74.7 per cent  to €41m and the pre-tax result fell from a €102m profit to a loss of €71m in spite of a 3.3 per cent reduction in the net interest charge to €146m. A restatement to reflect accounting changes reduced last year's pre-tax profit from €117m to €...

Australia: Boral suffers AUD212m annual loss

21 August 2013, Published under Cement News

Boral's net loss in the year to 30 June was down from a AUD177m (US$159.5m) profit in the FY11-12. It suffered a AUD212m (US$191m) annual loss. The fall in revenue was caused mainly by a AUD316m cost in asset write-downs and restructuring. The company also recorded the loss of 2130 jobs. However, underlying profit was AUD104m, up three per cent from the previous year. Chief executive Mike Ka...

Malaysia: Lafarge's LMCB secures loan agreement

21 August 2013, Published under Cement News

Lafarge Malaysia Cement Bhd (LMCB) has converted the MYR580.69m (USS$225m) fixed rate notes due 2013 into an inter-company term loan with M-Cement Sdn Bhd. The company executed a loan agreement with M-Cement to convert the notes into a five-year inter-company term loan. M-Cement is the sole note holder. The conversion of the notes into an inter-company loan does not have any impact on the con...

Pakistan’s Cherat Cement Co to raise production capacity

21 August 2013, Published under Cement News

Cherat Cement Company Ltd (CCCL) of Pakistan plans to increase production capacity at its 2500tpd cement plant, situated 52km from Peshawar near Nowshera in northern Pakistan. The company is expected to hold negotiations with various cement plant suppliers in due course. At present, the works is operating near full capacity and with the expected growth in the domestic cement market, the com...

CRH 1H13 revenues slip

20 August 2013, Published under Cement News

CRH saw its sales revenue for 1H2013 fall by three per cent, or six per cent on a like-for-like basis, from EUR8.271bn to EUR8.007bn. EBITDA reached EUR0.4bn, representing an 18 per cent YoY drop when excluding pension and CO2 gains. However, when including these figures, EBITDA lost more ground, decreasing from EUR523m to EUR397m and in line with its forecast. While May-June trading in Euro...

Holcim’s cement sales in Romania down 0.7% in 1H13

19 August 2013, Published under Cement News

Swiss building materials producer Holcim’s cement and clinker sales fell 0.7 per cent in the first half of the year in Romania, compared to the first six months of 2012, while the domestic cement prices were up 3.1 per cent, according to the company’s latest report. The company’s volume of aggregates sales in 1H13 dropped by 27.7 per cent YoY in Romania, while the domestic aggregates prices d...

Anhui Conch first-half net profit rises, China

16 August 2013, Published under Cement News

Anhui Conch Cement Co Ltd reported a net profit of CNY3.06bn (US$500.6m) in the first half of 2013, a rise of 4.89 per cent rise compared to the same period of the year before. The company's gross profit margin rose 1.40 percentage points to 28.49 per cent in the period, due mainly to lower raw material cost.  Operating revenue rose 14.73 per cent YoY to CNY23.59bn in the first half, boo...