Cement News tagged: Corporate
Philippine cement sales rise 7.1% on stronger government spending
Cement sales in the Philippines increased by 7.1 per cent to 14.9Mt from 13.9Mt in the same period of last year, according to the country’s cement association, CeMAP. According to Ernesto M Ordonez, president of CeMAP, a rise in July-August sales were driven by higher government spending (especially by the Department of Public Works and Highways), an increase in business confidence and a gen...
Anhui Conch Jan-Sept net profit rises 36.82%
Anhui Conch Cement Co 's net profit in the first nine months rose 36.82 per cent YoY to CNY5.36bn (US$878.6m), the company said in its third-quarter report. Basic earnings per share were CNY1.02 during the period. Operating revenue rose 14.76 per cent YoY to CNY37.01bn in the first nine months, boosted by an increase in the sales volume and price of cement and clinker. At the end of ...
Siam City Cement Co sees annual 3Q gains, Thailand
Siam City Cement, Thailand’s second-largest cement producer, reported a 53 per cent rise in net profit for the third quarter of 2013, thanks to solid sales, higher prices and energy savings in its production process. Sales rose 14.5 per cent YoY due to strong cement and ready-mix concrete sales. Gross margins increase from 41.1 per cent in 3Q12 to 45.6 per cent in 3Q13, mainly due to improv...
Ashaka Cement pretax profit down 58.87%, Nigeria
Ashaka Cement pretax profit fell to NGN2.16bn (US$13.6m) in the first nine months of 2013, down 58.87 per cent from NGN5.27bn a year ago. Turnover for the Nigeria-based producer rose to NGN16.83bn during the nine months to 30 September, from NGN16.46bn in the same period of last year. Ashaka Cement, in which Lafarge holds a 59 per cent interest, having increased this from 50 per cent in 2012,...
Dangote nine-month pretax profit rises 42.5%
Dangote Cement said its pretax profit for the first nine months of 2013 rose 42.5 per cent to NGN151.72bn (US$952m), compared with NGN93bn in the same period last year. Revenue for the period also rose to NGN288.98bn, compared with NGN224.49bn in the same period of 2012.
Lucky Cement first-quarter profit up 26%
Pakistan’s largest cement producer, Lucky Cement, reported a rise in profit of 26 per cent in the first quarter of the current fiscal. The company recorded after-tax profit of PKR2.54bn (US$23.8m) or earnings per share of Rs7.87 compared to profit of PKR2.01bn or EPS of Rs6.23 in the previous quarter. Revenues rose 20 per cent YoY to PKR10.6bn in the first quarter of 2013-14 against sale...
PT Semen Indonesia nine-month net profit rises 15% YoY
PT Semen Indonesia said Tuesday that its net profit rose 15 per cent YoY to IDR3.91trn (US$353m) during the first nine months of the year. The company recorded revenue of IDR17.39trn during the period, up from IDR13.67trn a year before.
EAPCC swings to full-year profit, Kenya
East African Portland Cement Co (EAPCC) has posted a profit for the full-year ending June 2013, having recorded a loss in the same period of last year. The company, in which Lafarge and Bamburi Cement each have a stake, reported that profit after tax rose to KES1.7bn (US$20m) compared to a net loss of KES972.7m the year before, the Nairobi Securities Exchange said on Friday. Sales increas...
Cemex: 9M13 turnover edges ahead
For the first nine months of the year, Cemex' turnover edged ahead by 0.7 per cent to US$11,352.7m but but EBITDA eased by 0.3 per cent to US$2001.2m as Mexico continues to drag on the company's performance although substantial improvements are seen in the US. The trading profit improved by 12.3 per cent to US$926.3m while the net interest charge increased by 8.3 per cent to US$1,139.4m. ...
Viettel to buy 70% stake in Cam Pha Cement
The Viettel Group has signed an agreement with Vietnam Construction and Import-Export JSC (Vinaconex), to buy a 70 per cent stake in Cam Pha Cement JSC. Military run-Viettel also purchased Cam Pha Cement’s debts guaranteed by VCG, the Dau Tu Chung Khoan newspaper said, adding that the deal had a total value of US$127m. Cam Pha will sell its cement to military-run construction companies, acco...
Asia Cement nine month profit surges, China
Asia Cement said net profit attributable to shareholders for the first nine months of the year rose by 166 per cent YoY to CNY391m (US$64.25m). Revenue rose by 3.9 per cent from a year earlier to CNY4.92bn. Gross profit increased by 29 per cent to CNY901m with margins of 18 per cent, up by three percentage points on a year earlier. For full-year 2013 the group anticipates a five per cent Yo...
DG Khan sees 17% decline in first-quarter exports, Pakistan
DG Khan Cement reported a lower-than-expected post-tax profit of PKR1.07bn (US$10m) in the first quarter of the current fiscal year, down 26 per cent from the PKR1.44bn reported in the same period of last year. The decline is mainly being attributed by analysts at Summit Capital to a decline in sales which fell six per cent YoY to 903,000t compared to 964,000t in the same period of last year...
JP Morgan lifts stake in Anhui Conch
JPMorgan Chase & Co purchased 2.05 million shares (a 0.16 per cent stake) in Anhui Conch Cement Co Ltd on 17 October, increasing the stake to 12.12 per cent, according to the Hong Kong Stock Exchange. After the purchase, JPMorgan bought the shares HK$26.95/ share and for a total of HK$ 55.25m (US$7.13m).
Cemex Latin America cement shipments edge ahead, grows stronger downstream
Cemex Latin American Holdings' turnover for the first nine months of the year advanced by eight per cent to US$1287.8m, while the EBITDA increased by 16.2 per cent to US$474.4m. The increase at the trading level was a little less at 14.1 per cent to US$405.4m. After a net interest charge of US$86.8m, the pre-tax profit amounted to US$309.1m. Net debt at the end of September stood at US$1345...
HeidelbergCement issues a Eurobond
HeidelbergCement yesterday priced a Eurobond issue under its €10bn EMTN programme with an issuance volume of EUR300m and a maturity date of 21 October 2020. The proceeds of the transaction will be used for general corporate purposes. “The new Eurobond is a great success,” says CEO, Dr Bernd Scheifele. “With the seven year bond, HeidelbergCement could raise capital at more favourable terms for...
Cemex third quarter loss expected to narrow
Cemex is expected to post a narrower third quarter loss for the July-September period of 2013 led by a pick-up by US sales, the company’s biggest market. According to a Reuters' survey of six analysts, the Mexican cement major is expected to report a loss of US$22m compared with a loss of US$203m a year earlier. An increase in US sales is expected to offset weak performances in Europe and Me...