Cement News tagged under: Pricing
Acquisitions, improved markets drive Eagle's 1Q08 August 2013, Published under Cement NewsIn the first quarter of its financial year to 31 March 2013, Eagle Materials' turnover, including its share of the Texas Lehigh cement joint venture, rose by 43.7 per cent to US$255.4m as the company was boosted by acquisitions and improving markets. Trading profit more than doubled (+108.9 per cent) to US$49.47m and after an interest charge 31.6 per cent higher at US$4.96m, the pre-tax profit advanced by 123.5 per cent to US$44.51m and the net attributable profit emerged 115.4 per cent ... |
GICA price rise causes concern, Algeria07 August 2013, Published under Cement NewsThe recent decision of Algeria’s state-owned GICA to raise cement prices by 20 per cent from ALD320 to ALD380 (US$4-4.70) has caused concern among business leaders. It is feared the rise will push up the cost of constructing houses and infrastructure. The increase in cement prices is expected to further weaken construction companies operating in a highly-competitive market where operators often slash prices to get access to public procurement, because of stringent conditions imposed by th... |
Fitch revises West China Cement outlook05 August 2013, Published under Cement NewsFitch Ratings has revised West China Cement Limited's (WCC) Outlook to Negative from Stable reflecting continued weak average selling prices (ASP) in the cement producer's core cement markets of Shaanxi and Xinjiang. If this trend persists, the company may face challenges in repaying its outstanding US$400m notes due in January 2016, cautions the ratings agency. Continued weak ASPs have compressed WCC's gross profit to CNY47/t (US$7.67) in 2012 from CNY76/t for 2011. The ASP was CNY238/t i... |
HeidelbergCement raises 2Q13 operating profit31 July 2013, Published under Cement NewsHeidelbergCement, the world’s third-largest cement producer, reported a second-quarter operating profit as it managed to increase prices in its main markets. A rise in demand in Asia, Africa and North America, helped offset a slowdown in parts of Europe. Sales increased by 0.5 per cent in the second quarter to €3799m as successful cement and aggregates price increases had a positive impact on revenue growth in key market regions. Operating income before depreciation (OIBD) improved by 5.6... |
Madras Cement quarterly net profit down 44%30 July 2013, Published under Cement NewsMadras Cement’s net profit for the first quarter of 2013-14 dropped by 44 per cent compared to the corresponding quarter of last year. Net profit for the quarter ended 30 June 2013, stood at INR68.85 crore on a total income of INR 987.18 crore. Expenditure rose by 11 per cent to INR839.70 crore. The company has deposited INR25.86 crore, which is 10 per cent of the penalty levied by the Competition Commission of India for alleged cartelisation, pending final judgment, the release s... |
Jordanian producers strive to increase competitiveness22 July 2013, Published under Cement NewsOvercapacity in the Jordanian cement market is forcing local firms to increase competitiveness amid a challenging operating environment, according to the general manager of Jordan's most recent market entrant. Speaking to the Jordan Times, Basem Zabian of Northern Cement Co, said that cement capacity currently stands at about 10.5Mta while cement consumption is 3.7Mt. and is expected to rise to 4Mta this year. This 6-7Mta of demand-supply imbalance is leading to cost cutting measures a... |
Indocement to raise prices, Indonesia22 July 2013, Published under Cement NewsPT Indocement Tunggal Prakarsa is planning to raise its cement prices in an effort to help offset an increase in subsidised fuel prices. Indocement’s director, Kuky Permana, told local press that increases have not yet been published as the company is still currently working out new prices. The company’s OPC currently sells at IDR54,000/40kg bag (US$5.3) and IDR64,000/50kg bag. The Indonesian government has increased the price of subsidized fuel from IDR4500/l to IDR6500/l for Premium g... |
Shanshui Cement 1H hit by pricing pressures19 July 2013, Published under Cement NewsChina Shanshui Cement said it expects to record a significant YoY decrease in net profit for the six months ended 30 June 2013 of not less than 40 per cent due to to persistently lower prices. Since the start of this year, the Shandong region (one of the company’s core markets) have been affected by excess production capacity and prices have remained from the fourth quarter of 2012. Demand has also slowed in the northeast region due to weather-related issues, and sales prices have fail... |
BBMG Corp issues profit warning, China18 July 2013, Published under Cement NewsBBMG Corp announced yesterday that it expected its net profit to fall not more than 15 per cent YoY in the first six months of this year, due to pricing pressures. The company's net profit was CNY1.39bn in the first half of 2012. The company's sales of cement and clinker increased 9.1 per cent YoY to 16.38Mt in the first half. Concrete sales volumes jumped 33.2 per cent YoY to 5.46Mm3 in the period. The company had earlier reported a loss of CNY61.21m for the first quarter of this yea... |
Cemex to raise Mexican cement prices by 4%12 July 2013, Published under Cement NewsCemex said Thursday it plans to raise prices of grey cement in Mexico by about four per cent starting next Monday. The increase will compensate for higher raw material costs the company faces for cement production, Cemex said in a statement. |