Eagle Materials’ volumes improve in the Buda joint venture

Eagle Materials’ volumes improve in the Buda joint venture
28 October 2010

Eagle Materials’ turnover, including its share of the Texan cement joint venture with HeidelbergCement, edged ahead by a marginal 0.1 per cent to US$299.79m for the six months of the end of September. The trading profit, on the other hand, fell by 20.9% to US$41.5m. Other expenses were down by 11.2 per cent and the net interest charge fell by 24.9 per cent to US$8.4m, giving a pre-tax profit 22.25 per cent lower at US$25m. 

Turnover from cement was three per cent lower at US$128.1m, with the wholly-owned operations declining by 7.5% to US$91.4m, but the group’s share of the Texas Lehigh joint venture improved by 10.1% to US$36.84m.  The trading profit declined by 29.6 per cent to US$25.8m, with the joint venture in Texas seeing its contribution fall by 13.7 per cent, but wholly-owned businesses recorded a 37.7 per cent drop in the profit contribution to US$15.1m.

Group cement deliveries improved by 2.4% to 1.34Mt (1.48Mst) declined by 1.9 per cent, with the Buda joint venture seeing volumes improve by 11%, compared with a 0.5 per cent reduction in the wholly-owned tonnage.  The average cement price declined by 7.6 per cent to US$88.92/t (US$80.67/st). 
Published under Cement News