Cement News tagged under: China

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Macquarie lowers TCC Int’l price target, Taiwan

17 July 2012, Published under Cement News

Investment bank Macquarie has lowered its target price for Taiwan Cement Company (TCC) International to HK$2.4 from HK$4.2, and maintained its "outperform" rating. The house cut its earnings forecasts by 43 and 37 per cent for 2012/13 to reflect lower sales volume and lower-than-expected cement prices. TCC issued profit warning on 4 July, indicating that profits would decline more than 50 per cent YoY. Macquarie said this is not a surprise, as it has been expecting a 72 per cent YoY earnin...

Jidong Cement shares acquired, China

13 July 2012, Published under Cement News

Jidong Development Group bought additional 698,300 shares in Jidong Cement on the secondary market, accounting for 0.05% of the total outstanding shares in the listed arm. The controlling shareholder plans to continue holding expansion in the next six months due to the current market situation. Essence Securities Co expects Jidong Cement to achieve a net profit of CNY324m and sales are expected to reach 34Mt.

Jiangxi Wannianqing forecasts 80% net profit drop, China

13 July 2012, Published under Cement News

Jiangxi Wannianqing Cement Co Ltd, a Jiangxi Province-based producer of cement and clinker, said it expects first-half 2012 net profit to plummet 80 per cent to CNY54-63m (US$8.5-9.9m) in the first half of 2012 due to slower domestic demand

Daiwa sees positive developments for China from 2H

13 July 2012, Published under Cement News

Analysts at brokerage Daiwa have said that while current cement demand in China does not look good and many local producers have issued profit warnings, macro data suggests that the country's overall economic conditions are holding up, and loosening measures by the central government are helping infrastructure and property investment to pick up gradually. "We see positive developments for the China cement market for 2H12, especially when the rainy weather ends." Daiwa suggests investor...

Huaxin Cement expects H1 net profit to drop 50%, China

12 July 2012, Published under Cement News

Huaxin Cement Co Ltd, in which Holcim holds an approximate 42 per cent stake, has become the latest Chinese producer to issue a first-half profit warning.  The Hubei Province-based cement manufacturer said on 9 July that its net profit is expected to fall by at least 50% YoY in the first half of 2012 due to a decline in cement prices. The company booked CNY542m in net profit in the same period of 2012. Last year, Huaxin Cement acquired three plants in the province of Hubei with a capacity...

Tianshan Cement forecasts 60-80% drop in 1H profits

10 July 2012, Published under Cement News

Xinjiang Tianshan Cement Co Ltd said last Friday that its net profit fell 60-80 per cent to CNY120m (US$18.8m) in the first half of this year. The company, which is based in the Xinjiang Uyghur Autonomous Region, stated that the decline in its half-year net profit is largely due to lower cement selling prices and rising financial expenditure, according to reports by China Business Newswire.

Tianshan Cement forecasts CNY120m in 1H net profit

09 July 2012, Published under Cement News

Xinjiang Tianshan Cement Co Ltd, a cement producer based in Xinjiang Uyghur Autonomous Region, forecasted on July 6th that its net profit will reach about CNY120m (US$18.8m) in the first half of 2012, down 60-80% YoY. (Source: China Business Newswire).

Citigroup lowers Italcementi price target, Italy

09 July 2012, Published under Cement News

Citigroup has lowered its price target on Italcementi to EUR3.60 from EUR4.10, after cutting by 15% the pre-tax profit estimates for the Italian cement producer in 2012 and 2013. The prices and figures in Italy grew despite the weak market conditions but the dipping sales in France lead the bank to expect lower figures in 2012 than in 2011, Citigroup commented. The higher prices in North America are expected to raise Italcementi's profit on the market both in the first half and full-201...

China: first half profit concerns

09 July 2012, Published under Cement News

With disappointing economic data emanating from China recently, a number of domestic cement producers have issued profit warnings for the first half of 2012 of between 30-50 per cent. While some of these manufacturers have reported improving market demand since the second quarter, pressure on cement prices is likely to persist.   An increasing number of Chinese companies across the board are feeling the pinch of a slowdown in the overall economy as investment, factory output and retail sale...

Italcementi: June '12

06 July 2012, Published under Cement News

A reduction in the use of clinker, which has fallen back to a level last seen in the early 1970s, has led Italcementi to eliminate three of its Italian cement works. The Pontassieve works near Florence is being sold to Colacem, the third largest Italian cement producer, as this works is very much on the periphery of Italcementi's areas of operation. Furthermore, two other integrated Italcementi cement works are to be closed permanently during the third quarter of this year. The sale of I...