Texas Industries boosted by land sales, US
Turnover in the year to the 31st of May rose by 13.1 per cent to US$943.9m and the trading profit jumped by 38.1 per cent to US$88.3m, thanks to a US$12.4m gain on property disposals, without which the profit increase would have amounted to 18.6 per cent.
Cement deliveries declined by 4.9 per cent to 4.7Mt (5.1m short tons) because of shortage of stock and limited trading opportunities. Aggregates shipments, on the other hand, rose by 6.9 per cent to 22.9Mt (25.2m short tons) and ready-mixed concrete volume advanced by 4.1 per cent to 2.9m m³. The expansion of the integrated cement works in California, which should add 0.9Mt (1.0m short tons) should be completed in the final quarter of 2007. In addition, Texas Industries has plans so increase cement capacity in Texas. In total, these investments are aimed at increasing the group’s cement capacity by some 50 per cent to 6.8Mt. Published under Cement News
