Cement News tagged: Corporate
Shanshui Cement 1H hit by pricing pressures
China Shanshui Cement said it expects to record a significant YoY decrease in net profit for the six months ended 30 June 2013 of not less than 40 per cent due to to persistently lower prices. Since the start of this year, the Shandong region (one of the company’s core markets) have been affected by excess production capacity and prices have remained from the fourth quarter of 2012. Dema...
Can Tho Mineral & Cement to delist from HNX
Can Tho Mineral & Cement JSC (CCM), has approved a plan to delist 4.6m shares from the Hanoi Stock Exchange (HNX). The decision was made due to the company’s difficulties in operation and the low liquidity of its shares, CCM said in a statement sent to the bourse, Vietnam News Brief Service reported. This year, CCM targets a net profit of VND10bn (US$471,600) and a dividend payout of 15 per ...
CRH announces new group chief executive, Ireland
CRH has announced that Albert Manifold will assume the role of group chief executive on 1 January 2014, following the retirement of the current chief executive, Myles Lee, after 32 years with the group. Commenting on the appointment, CRH Chairman Nicky Hartery said: “I am delighted to announce Albert’s appointment as the next chief executive of CRH plc. This follows a comprehensive selecti...
Paraguay’s INC registers 5M13 loss
State-owned Industria Nacional del Cemento of Paraguay noted a loss of PYG22.413bn (US$5m) in the first five months of 2013, indicating a rise on the previous year. In 2012, the company registered a full-year loss of PYG41.646bn, according to local news service ABC. The 2012 loss is attributed to a combination of high sales and operational costs. Sales costs reached PYG343.676bn against a...
BBMG Corp issues profit warning, China
BBMG Corp announced yesterday that it expected its net profit to fall not more than 15 per cent YoY in the first six months of this year, due to pricing pressures. The company's net profit was CNY1.39bn in the first half of 2012. The company's sales of cement and clinker increased 9.1 per cent YoY to 16.38Mt in the first half. Concrete sales volumes jumped 33.2 per cent YoY to 5.46Mm3 in the...
Dyckerhoff shareholders approve Buzzi offer
The shareholders' meeting of Dyckerhoff AG gave the go-ahead to the squeeze-out launched by parent company Buzzi Unicem SpA on all outstanding ordinary and preferred Dyckerhoff shares still in the hands of minority shareholders. Buzzi Unicem's acquisition of the remaining stock of Dyckerhoff and the following cash payment of EUR47.16 per share ( for a total amount of EUR65.3m) will become e...
Saudi Cement reports 5.9% second-quarter rise
Saudi Cement Co reported a 5.9 per cent increase in second-quarter net profit on Monday, thanks to increased demand. The company posted a second-quarter net profit of SAR307m (US$81.7m) compared to SAR290m in the same period in 2012. Net profit for the first six months of 2013 was SAR647m, up five per cent from the previous year.
Prosperity Minerals confirms merger offer, China
Prosperity Minerals Holdings Ltd confirmed that it has received an initial approach from Prosperity International Holdings Ltd with a view to a possible offer being made for the company at a price no higher than 130 pence per ordinary Prosperity share. Prosperity International stated that it will, by not later than the 28th day following its announcement on 15 July either, confirm its intenti...
Higher volumes and sales boost Yanbu first half, Saudi Arabia
Yanbu Cement Co's first-half net profit rose by 44.7 per cent YoY to SAR521m (US$138.9m), thanks to higher production and sales volumes supported by the start of its kiln line No 5 last year. Earnings per share (EPS) stood at SAR 3.31, up from SAR 2.29 a year ago. For the second quarter of 2013, YCC registered a net profit of SAR274m, an increase from SAR216m a year earlier.
Siam Cement 2Q13 earnings growth forecast
Siam Cement Co is expected to report YoY robust earnings growth thanks to impressive performances from its three core businesses including its cement division. KGI Securities expect SCC to report a 2Q13 net profit of THB8.8bn, up 106 per cent YoY and 0.2 per cent QoQ. ? In terms of its cement division, concerns about a delay to the government's THB2tn borrowing bill would impact sentime...
Asia Cement forecasts higher 1H net profit
Asia Cement (China) expects its unaudited net profit to more than double for the six months to the end of June 2013 compared to the same period of last year. The 100 per cent forecasted increase in first half net profit was primarily attributable to the increase in sales and a decrease in coal costs compared to 1H12, the company said. Asia Cement's interim results are expected to be publi...
Texas Industries fourth-quarter net profit declines, sales rise
Texas Industries Inc reported that its fourth-quarter net income declined to US$44.14m as the prior-year results included a higher gain from asset sales. However, the company benefitted from continuing recovery in major markets and from the commissioning of new cement capacity and ready-mix acquisitions in Texas. Net income declined to US$44.14m from US$60.21m in the same quarter last ye...
Qassim Cement first-half net profit rises, Saudi Arabia
Qassim Cement posted a SAR334.6m (US$89.2m) net profit for the first half of 2013, up from SAR307.4m a year ago. The company attributed the increase to a rise in sales coupled with lower expenses, but did not provide any exact figures. Earnings per share (EPS) stood at SAR 3.72, compared with SAR 3.42.
ARM's 1H13 pretax profit rises 28%, Kenya
An increase in sales has helped ARM Cement, Kenya's second-largest cement producer, to achieve a double-digit rise in pretax profit. Pretax profit for the six months ended June jumped to KES1bn (US$11.51m), a rise of 28 per cent YoY, the company said in a statement. Cement sales rose by 28 per cent YoY in the reporting period. The company, which operates a 0.75Mta clinker plant at Kaloe...
Steppe Cement 1H turnover boosted by higher prices
In the first half of the year, Kazakhstan-based cement producer Steppe Cement reported an eight per cent decline in volumes YoY but turnover rose by six per cent thanks to higher prices. During the January-June 2013 period, the company sold 564,440t of cement compared with 615,838t in the first half of 2012. Overall sales in Kazakhstan rose by 11 per cent during the period an the share of ...
TCC International expects profits to double in 1H13
TCC International expects to double net profit attributable to shareholders in the first half of this year compared to the same period of 2012. The increase is mainly attributed to the group’s improved operations in southwest China and a corresponding rise in its profit contribution during the period, ET Net News reports. The advanced profits are due to a increase sales and a significant imp...