Cement News tagged under: Asia Cement

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Korean cement hit by USD19m losses as rail strike ends

31 December 2013, Published under Cement News

The Korean railroad workers union called an end to its 22 day strike on December 30, leaving the domestic cement industry to count its losses. The cement industry relies on railway transportation for more than 30% of its transportation needs. The cement companies estimate that their combined loss for the 22 days of strike would be KRW20bn (USD19m), according to a report in the Korea Economic Daily. This was far worse than the strike in 2009 which lasted just eight days. The Korea Cement As...

Asia Cement nine month profit surges, China

25 October 2013, Published under Cement News

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 YoY rise in sales to 26Mt compared to 24.8Mt in 2012. It expects to continue benefitting from a declin...

Asia Cement expects higher nine-month net profit

17 October 2013, Published under Cement News

Asia Cement said it expects a 150 per cent YoY increase in unaudited net profit attributable to shareholder for the first nine months of the year. The company says the advance is due to higher sales volumes and a decrease in coal costs compared to the same period of last year.

Thailand: Asia Cement predicts revenue growth deceleration

30 September 2013, Published under Cement News

Italcementi-owned Asia Cement expects slower revenue growth in 2014 as it forecasts a weaker domestic market and uncertainty over the government’s THB2trn (US$64bn) infrastructure investment, according to the Bangkok Post. Nopadol Ramyarupa, co-managing director of Thailand’s fourth-largest cement maker, said he expects revenue growth to be limited to four per cent. This year’s revenue is estimated at THB10bn, up by 17.6 per cent from last year’s THB8.5bn. "The economic slowdown and re...

Asia Cement sees slower 2014 revenue growth

27 September 2013, Published under Cement News

Asia Cement, the Thai-based subsidiary of Italcementi, expects slower revenue growth next year due to a weaker economy and domestic demand. While this year's revenue is estimated to rise 17.6 per cent to THB10bn, next year revenue growth is expected to slow to four per cent, according to Asia Cement's co-managing director Nopadol Ramyarupa. "The economic slowdown and revised GDP figure have affected our projection," said Mr Nopadol told the Bangkok Post. Thailand's economy fell into r...

Asia Cement first-half profit surges, China

15 August 2013, Published under Cement News

Asia Cement reported a surge in profit attributable to shareholders for the six months ended 30 June 2012 thanks to an increase in the sale cementitious products and declining coal prices. Profit rose by 110 per cent YoY to CNY256m (US$41.9m). Revenue rose 3.4 per cent to CNY3.18bn and gross profit was CNY584m, representing a gross profit margin of 18 per cent.

Asia Cement forecasts higher 1H net profit

12 July 2013, Published under Cement News

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 published at the end of August.

Asia Cement raises US$220m from sale of five-year bond

10 May 2013, Published under Cement News

Asia Cement has raised US$220m from the sale of a five-year, zero-coupon convertible bond which it plans to use to repay maturing bonds. Due to strong demand, the deal was upsized in full, or by 10 per cent. The transaction came after the Taiwanese company’s share price on Monday hit its highest close since December. It is the second US dollar CB out of Taiwan this year after Far Eastern International Bank raised US$150m from a zero-coupon deal in late January. The company plans...

Asia Cement Corp plans US$200m convertible bond issue – report

08 May 2013, Published under Cement News

Taiwan-based Asia Cement Corp is planning a US$200m convertible bond issue to repay debts, according to Dow Jones Newswires Tuesday. The Taiwanese company is selling the five-year zero-coupon bond convertible into its Taipei-listed ordinary shares at an indicative price range of TWD46.13 and NT$48.00, representing a premium of 23-28 per cent above the stock's Tuesday closing price of NT$37.50, two term sheets seen by Dow Jones shows. There is an option to raise an additional US$2...

Improved outlook for Asia Cement Corp in 2013

12 April 2013, Published under Cement News

Taiwanese producer Asia Cement Corp is expected to return to a path of growth this year driven in part by earnings growth from its operations on mainland China, a recent report by HSBC has said. Last year, Asia Cement’s net profit plunged 38 per cent to TWD6.24bn (US$208.3m), which was 16 per cent lower than HSBC’s forecast. However, the Taipei Times reports that HSBC analyst Elaine Lam retained her “neutral” rating on Asia Cement, with an unchanged 12-month target price of NT$36.45, repr...