Cement News tagged under: Asia Cement

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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...

Asia Cement profit falls, China

29 October 2012, Published under Cement News

Asia Cement (China) said that revenue for the first nine months of 2012 was CNY4.73bn (US$757m), a decline of 19.83 per cent from a year earlier. Gross profit declined 58.5 per cent to CNY696m and gross profit margins fell 15 per cent, down by 13 percentage points compared to the same period of last year. Net profit attributable to shareholders fell 84.8 per cent YoY to CNY147m for the first nine months of the year. Its basic and diluted earnings per share were CNY9.4 cents.

Taiwan Cement and Asia Cement to upgrade environmental equipment in China

26 September 2012, Published under Cement News

Anticipating stricter environmental regulations for cement producers in China, Taiwan Cement Co plans to invest TWD700m (US$23.8m) to upgrade its NOx and SOx abatement equipment, while Asia Cement is considering the same step.  Taiwan Cement International Holdings Ltd. has started installing new equipment in its Chongqing plant, aiming to decrease NOx emissions by 60 per cent, with the same works ongoing at the plants in Guizhou and other areas. According to an industry insider says th...

Taiwan producers invest further in China

04 September 2012, Published under Cement News

Despite recording a decline in first-half net profits Taiwain-based cement producers Taiwan Cement and Asia Cement, have underlined their confidence in the Chinese market by planning to invest over TWD1.8bn (US$60m) in their respective operations. Asia Cement reported 1H net profit of TWD4.088bn (US$136.27m) in net profits in the first half, with earning per share falling 30 per cent YoY to TWD1.27 (US$0.042). Meanwhile, TCC’s net profits decreased 2.5 per cent YoY to TWD$3.95bn (US$131.67...

Taiwan Cement and Asia Cement’s Chinese profits fall

22 August 2012, Published under Cement News

Decreasing cement prices and shrinking infrastructural work in China has impacted the profits of Taiwan Cement Co (TCC) and Asia Cement, two Taiwan-based cement makers operating in China. Taiwan Cement International Holdings Ltd, a subsidiary of TCC, posted 70.4 per cent YoY net profit decline to HKD269m (US$8.97m) in the first half, while Asia Cement (China) Holdings Co, an affiliate of Asia Cement, saw profits drop 81 per cent to CNY122m (US$19.154m). A representative of TCC pointed ...

Asia Cement to build plant in Northern China

22 June 2012, Published under Cement News

Asia Cement has announced plans to build a new plant 10Mta plant in Handan, Hebei province, marking the Taiwan-based producer’s first foray into the North China Market. Taiwan Economic News reported Asia Cement vice chairman, TS Chang , as saying that the new plant will have a capacity of 10Mta, comprising two kiln lines, and will be operational by 2015. The project is expected to cost TWD20bn (US$670m). Currently, Asia Cement’s investments in China are concentrated in the central and ...

Asia Cement issues profit warning, China

16 April 2012, Published under Cement News

Asia Cement China said it expects the group to record a substantially lower net profit for the first quarter of 2012 compared to the same period of last year. The decrease is primarily attributed to seasonal and climatic factors and a decrease in the demand for cement leading to a drop in sales. The average selling price of Asia Cement’s product’s was also down in the first quarter of 2012 compared to 1Q11. (Source: ET News)

Asia Cement 2011 net profit rises, China

22 March 2012, Published under Cement News

Asia Cement (China) Holding Corp said its net profit rose by 162 per cent YoY in 2011 to CNY1.34bn (US$212.6m). Meanwhile, basic earnings per share stood at CNY0.86. Citigroup has upped Asia cement to Buy from Sell and raised its target price to HK5.36 vs HK$2.71. The house expects earnings should bottom with selling prices in central China down 10 per cent YoY and volumes almost frozen. The house adds that Asia Cement's FY11 dividend yield was 5%, providing good cash income, and the c...