Cement News tagged under: corporate
Quinn poised to takeover Barlo24 March 2004, Published under Cement NewsThe Quinn Group is on the verge of taking over Barlo plc after offering €84 million for the company, €14 million more than a controversial management buyout (MBO) bid. Sarcon, a Northern Ireland-registered subsidiary of the Quinn Group, announced at midday that it would offer 48 cents a share or €84 million for Barlo. That figure is €14 million or 20 per cent higher than the 40 cents a share/€70 million tabled last month by Melgan, the MBO vehicle led by Barlo chief executive Dr Tony Mullin... |
Heidelberg Cement results preview24 March 2004, Published under Cement NewsHeidelbergCement will publish FY03 results on Thursday 25 th March 2003 and will hold an analyst meeting in Frankfurt. 2003 sales, already disclosed in February, fell 3 per cent to €6372m in line with consensus. On a like for like basis, sales rose 0.4 per cent in line with our forecast - says BNP Paribas (+0.5%). During the last publication, HC confirmed 2003 operating profit before depreciation (OIBD) guidance of €1bn guidance for 2003; a 13 per cent decrease. This amount, already adopted ... |
Gansu Qilianshan Cement24 March 2004, Published under Cement NewsShanghai-listed Gansu Qilianshan Cement Co has reported earnings per share of 0.115 yuan for the accounting year of 2003 ended Dec. 31, down from 0.12 yuan for the previous year. The company’s net profits before deduction of non-current gains and losses in 2003 reached 39.9337 million yuan, as compared with 41.7741 million yuan in 2002. Its main operating turnover in 2003 stood at 461.3381 million yuan, up from 382.8185 million yuan in 2002. The company posted return on net assets of 6.03 per... |
UAE Sharjah Cement posts profits24 March 2004, Published under Cement NewsUAE cement producer Sharjah Cement and Industrial Development Company posted a net profit of US$15.5m for 2003, up from US$3.9m in 2002. Earnings per share stood at The company’s board of directors has proposed a cash dividend of US$0.014) per share for 2003 and a distribution of bonus shares at a ratio of six free shares for every 100 shares held. Sharjah Cement and Industrial Development was established in the emirate of Sharjah in 1979. |
Merrill on the CRH-Secil deal23 March 2004, Published under Cement NewsIn scale terms, Merrill estimates proportionate consolidation of Secil for a full year in 2005 would add 3.5 per cent to group sales, seven per cent to EBITDA 05E. The additional debt for the stake (EUR372m) plus the share of Secil¹s own debt would raise 2004E YE gearing from 33 per cent to 41 per cent (for this deal alone in fact we expect, and hope, that CRH will find more value-adding deals to absorb at least its EUR520m of free cashflow after dividends and maintenance capex, and perhap... |
Cements firm on solid Egypt stock market23 March 2004, Published under Cement NewsCement shares rose on the Egyptian stock market on Thursday with investors speculating the sector would benefit from a rise in local cement prices and the weakness of Egypt’s pound against hard currencies, traders said. Orascom Construction Industries (OCI), which on Wednesday posted a 53 percent rise in 2003 net profit, rose slightly but traders said the profit jump was already included in the share price. "There is some focus on cement companies after an increase in cement prices," said Am... |
Pakistani stocks buoyant22 March 2004, Published under Cement NewsThe cheer in Pakistan in not restricted to its cricket stadiums. The Karachi bourse is on a one-year winning streak and powering ahead. The KSE-100 has been rising while the world¹s major indices have dropped back in recent weeks. The major drivers in the run-up to 5,000 are 53 stocks in the KSE-100 basket that appreciated over 100 per cent each in the past year. The top gainers are industrials like cement and oil. Between March 18, 2003, and March 18, 2004, index heavyweight Maple Leaf Ceme... |
Holcim fixes rights issue22 March 2004, Published under Cement NewsOne week ago, Holcim announced that the size of its rights issue to fund the Apasco buyout and previous acquisitions since June 2001 would be CHF 1.5bn. The buyout offer for Mexican subsidiary Apasco was successfully closed on Friday 12 March, with Holcim’s stake increasing from 68.9% to 93.4%. Holcim will now make a CHF 1.5bn rights issue, asking for shareholder approval at the AGM on May 14 and announcing the terms of the rights issue in mid-May. Analysts at Deutsche Bank report that he... |
Semen Padang set to chalk up big jump in net profits19 March 2004, Published under Cement NewsThe management of state-owned cement maker PT Semen Padang hopes to chalk up Rp128.8 bn (US$14m) in net profit this year, up 92 per cent from 2003. Company President Dwi Soetjipto said this year its sales are predicted to rise to Rp1.71 trillion from last year’s Rp1.58 trillion. Soetjipto said the company hopes to restructure its debts by converting short term debts into long term ones. He said short term debts of the company are much larger than its long term debts, causing liquidity pro... |
Dyckerhoff reports Euro249m net profits in 200319 March 2004, Published under Cement NewsGerman building materials manufacturer Dyckerhoff AG said on March 17, 2004 its net profit in 2003 stood at Eiuro249m after a net loss of Euro128m reported for the previous year. Dyckerhoff earnings before interest, tax, depreciations and amortisations (EBITDA) rose by Euro224m to Euro493min 2003. Company sales fell by 15 per cent year-on-year to Euro1.32bn in 2003, reflecting low cement prices in Germany and the weak US dollar. Dyckerhoff attributed the return to profit to an efficient re... |