Cement News tagged under: Pricing

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Tasek Corp suffers 3Q decline

05 November 2014, Published under Cement News

Malaysian cement producer Tasek Corp reported a 7.1 per cent drop in earnings to MYR21.5m (US$6.4m) in the third quarter of 2014 amid stiff competition, according to the company. Earnings declined despite a 3.3 per cent rise in revenue to MYR148.7m during the three month period. Tasek said it suffered lower margins from the cement segment due to intense price competition on the market. Lower sales were also reported in the concrete segment. For the nine months to the end of September 2014...

East Africa rises

05 November 2014, Published under Cement News

East Africa’s cement demand continues to rise as infrastructure and housing needs provide the basis for future consumption. While cement capacity investments continue, a shift in the make-up of ownership is being seen as local companies take up a more prominent position. By Francis Mwangi, Standard Investment Bank Ltd, Kenya. The emerging East African market is characterised by new capacities, growing exports and growing consumption trends Over the past decade, the east African ...

Dangote Cement nine-month pretax profit up 1.5%

04 November 2014, Published under Cement News

Dangote Cement said on Monday its pretax profit for the nine months to September rose 1.5 per cent to NGN154.05bn (US$930.7m), compared with NGN151.72bn in the same period of last year. Revenue for the nine month period was NGN310.21bn versus NGN288.98bn in 9M13, the company said in a filing with the Nigerian Stock Exchange. Price cuts The company has recently slashed prices in the country, reportedly to its lowest level since 2005. The company's  32.5 cement grade now selling at NGN1000...

Moody's says WCC's profit warning is credit negative

03 November 2014, Published under Cement News

Moody's Investors Service says West China Cement Ltd's (WCC) profit warning for 2014 is credit negative. On 29 October 2014, WCC announced that its consolidated net profit for 2014 will fall substantially from 2013, based on preliminary results for the first nine months ended 30 September 2014. "Moody's expects WCC to demonstrate a lower EBITDA margin which will in turn increase its debt/EBITDA ratio, and will therefore continue to position the company weakly within the B1 rating level,...

Ghana: Dangote sets retail price reduction deadline

21 October 2014, Published under Cement News

Dangote Cement says it expects all retailers of its cement to reduce the price by GHS2.70 by Friday, 24 October following concerns that retailers have failed to cut prices after a reduction announced by the cement producer. Dangote reduced its price on 9 October, the day after Diamond Cement and Ghacem cut their prices by GHS2 following the gradual appreciation of the credit agains the US dollar. Speaking to Citi Business News, Dangote’s sales and marketing manager, Joeseph Kobina Abu...

Vietnam cement prices to rise?

16 October 2014, Published under Cement News

The price of cement in Vietnam could be increased this month, according to the country's Ministry of Finance, without stating a reason for the potential rise. Cement is currently sold for VND1.05m-1.5m/t (US$49.5-70.7) in the northern region and VND1.46m-1.8m/t in the south. Clinker and cement export prices were also stable at US$38.2 and US$55.2/t, respectively, the ministry added.

Dangote reduces Ghana prices on cedi appreciation

15 October 2014, Published under Cement News

Dangote, has reduced prices of its cement by GHS2.70 following the gradual appreciation of the Cedi against the dollar and other major international trading currencies. Joeseph Kobina Abu, sales and marketing manager of Dangote Cement Ghana Ltd said the company has  reduced "the price from GHS30.75 to GHS28.05 “. The reduction took effect on 9 October 2014. GHACEM had also reduced its ex-factory price from GHS30.55 to GHS27.965/50kg bag, effective Tuesday, 7 October.

Barclays raises target price for CRC, maintains rating

14 October 2014, Published under Cement News

Barclays Research raised its target price for China Resources Cement to HK$5.91 (US$0.76) from HK$5.79 and maintained its "equal weight" rating. Despite the strong cement price in southern China so far this year, the research house noted concerns over CRC's long-term growth as volume growth expansion is limited and the company does not have any material consolidation plans so far. Barclays said the fourth quarter usually shows the strongest seasonality for the cement industry. However, ...

Deutsche Bank upgrades Adelaide Brighton, Australia

10 October 2014, Published under Cement News

Deutsche Bank has upgraded Australian building materials supplier Adelaide Brighton to hold from sell, citing recent share price underperformance. However, Deutsche continues to have concerns around the potential for more contract losses. The broker says Adelaide Brighton is trading on a multiple of 13.3 times earnings – broadly in line with its historical 12-month ratio of 12.9 times.  "Upside risks include better pricing outcomes for lime and cement and a faster-than-expected improvement ...

GHACEM cuts prices on appreciation of cedi

08 October 2014, Published under Cement News

GHACEM, the leading cement producer in Ghana, has reduced the price of cement following the recent appreciation of the cedi against major international currencies. The ex-factory price of its 50kg cement bag has been reduced from GHS30.55 to GHS27.965, effective Tuesday, 7 October. The Ghanian cedi experienced a free fall against the major trading currencies, depreciating about 30 per cent to the US dollar in the first half of 2014. The situation has impacted on imported goods across ma...