Cement News tagged under: Results
China's cement sector faces impact of new property control policies12 March 2013, Published under Cement NewsThe Chinese cement sector recovery is likely to face further headwinds in the near-term given stricter property control policies announced on 1 March. The government is to initiate an array of measures including higher transaction duties, increased down payments and mortgage interest rates and strict purchase qualifications, as it tightens its grip on the real estate sector. China’s cement industry reported a 32.8 per cent drop in profits last year, according to latest data from... |
Thatta Cement majority shareholder shares stake to consortium11 March 2013, Published under Cement NewsThe majority shareholder of Thatta Cement, Pakistan, has sold its stake to a consortium of four private companies. In an announcement sent to the Karachi Stock Exchange last week, Arib Habib Corp (AHC), along with its subsidiaries, said it has sold its 61 per cent holding in Thatta Cement to the consortium PKR24.16/share. The total value of the transaction is approximately PKR1.46n (US$14.75m). Two private buyers companies, Sky Pak Holding and Al-Miftah Holdings each bought 22.7 per cen... |
Vicat grows in Asia08 March 2013, Published under Cement NewsFrance-based cement major Vicat reported a 1.2 per cent rise in turnover in 2012 to €2292.2m, but the EBITDA declined by 10.9 per cent to €437.4m and the trading profit fell by 20.8 per cent to €245.2m. The company booked a pre-tax profit 20 per cent lower at €207.6m and the net attributable fell by 21.1 per cent to €129.1m. Net debt was 6.2 per cent higher at €1,144m and represents 46.4 per cent of total shareholders, or 53.7 per cent if minorities are excluded. Capital investment las... |
Cementir boosts white cement volumes in China and Malaysia08 March 2013, Published under Cement NewsCementir Holding increased turnover in 2012 by 6.4 per cent to €976.2m and the EBITDA was ahead by 11.2 per cent to €138.1m as the margin improved from 13.3 per cent to 14.1 per cent. Depreciation and impairment provisions were 2.2 per cent higher at €89.9m, giving a trading profit advance of 33.2 per cent to €48.2m. After a net financial charge 3.5 per cent lower at €21.8m, the pre-tax profit rose by 83.4 per cent to €28.6m. After a 20.7 per cent reduction in the tax charge and an 11.3 p... |
Italcementi incurs substantial trading losses in Italy and Spain06 March 2013, Published under Cement NewsItalcementi has reported a 2012 trading loss compared to a profit in 2011 as the Italian cement major incurs substantial losses in its domestic market and Spain. Italian prices, however, see important improvements. Turnover for the year declined by 3.8 per cent in 2012 to €4480.1m but underlying EBITDA was down by 9.8 per cent to €632.4m. After an impairment charges that jumped from €134.3m to €309.4m, last year's trading profit of €138.9m was turned into a €150.9m loss. Net financial ... |
Domestic demand, higher prices boost DG Khan 1H profit06 March 2013, Published under Cement NewsPakistan-based cement producer DG Khan Cement reported a rise in second-quarter profit-after-tax up of 53 per cent to PKR1.5bn (US$15.3m), thanks to advances in domestic demand on the back of the government's Public Sector Development Programme and higher prices. This takes half-year profit for FY12-13 to PKR2.9bn, representing a growth of 128 per cent. According to a report of BMA Capital, DGKC's local dispatches rose by six per cent on YoY basis in the first half of the financial year ... |
Tianrui Cement's net profit falls 38.5% YoY06 March 2013, Published under Cement NewsChina Tianrui Group Cement announced that the company saw net profit reach CNY783m (125.9m) in 2012, a YoY decline of 38.5 per cent. The Henan Province-based clinker and cement producer said its operating revenue fell 8.1 per cent YoY to CNY7.59bn, with basic earnings per share of CNY0.33 |
Titan's profits decline, except in the USA05 March 2013, Published under Cement NewsTitan Cement of Greece reported a 3.6 per cent recovery in turnover for 2012 to €1130.7m, following the 19.2 per cent drop in the previous year. EBITDA, however, continued its double-digit decline and fell by 19.8 per cent to €195.8m. While consumption in its home market of Greece has fallen to less than a quarter of the 2006 peak level, Titan has witnessed a reversal in fortunes in its US operations. In spite of a swing from a €11.9m loss on foreign exchange to a €1.5m profit, there was ... |
China Resources Cement profit down by 44.4%05 March 2013, Published under Cement NewsChina Resources Cement (CRC) reported a 44.4 per cent loss in net profit attributable to shareholders last year to HK$2.32bn (US$299m). In 2012, the firm's turnover rose 9.1 per cent from a year earlier to HK$25.35bn. The sales volume of cement and clinker surged by 26.5 per cent and 36 per cent, respectively. The average cement price, however, decreased 12.23 per cent to CNY324.3/t while clinker prices were down clinker 16.1 per cent to HK$257.1/t. Looking ahead, Barclays says CR Cement'... |
Lower revenues and higher costs hurt QNCC net profit05 March 2013, Published under Cement NewsQatar National Cement (QNCC) reported a seven per cent decline in 2012 net profit on the back of lower revenues and higher costs. Net profit for the 12 months to the end of December 2012 fell to QAR425.31m (US$116.8m) while revenues were down three per cent to QAR964.28m. The company also registered an eight per cent rise in selling and distribution costs to QAR8.64m, general and administrative expenses were up by seven peer cent and an impairment loss of five Located at Umm Bab, 82km ... |