Cement News tagged under: Results

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Australia: market uncertainties ahead

03 September 2012, Published under Cement News

Challenging market conditions persist for Australia's cement sector due to weak residential and commercial activity combined with the potential impact of a new carbon tax which became effective last month.   Last year saw a decline in housing starts as rising interest rates coincided with the end of stimulus packages. In November 2011, the Reserve Bank cut interest rates by 25bp to spur the market into recovery although it was unable to stop further declines in financing approvals. Latest da...

Lafarge: August '12

03 September 2012, Published under Cement News

After reporting an increase in sales but a slip in volumes for 1H2012, Lafarge remains confident that cement demand will continue to rise in 2012. For the first six months, sales were up five per cent to R7.6bn and operating income 15 per cent to R1bn. However, volumes slipped one per cent to 69.7Mt for cement. In addition they were down two per cent for aggregates to 84.2Mt and seven per cent to 15.7Mt for the ready-mixed concrete segment. Lafarge chairman and CEO Bruno Lafont said, "Eco...

Holcim: August '12

03 September 2012, Published under Cement News

Cement sales during 1H2012 increased from 70.9Mt to 74Mt, up 4.4 per cent YoY, while sales of aggregates and ready-mix concrete fell by seven and 1.3 per cent to 75.6Mt and 22.8Mm3, respectively. As a result, net sales rose 2.1 per cent to CHF10.357bn (US$11.157bn/ R8.591bn). The rise in cement sales is the result of active emerging markets and North American gains. In particular, group companies in India, the Philippines, Thailand and Indonesia benefitted from significantly higher cement s...

Iberian impairments push Cimpor into a loss

31 August 2012, Published under Cement News

Cimpor’s first half turnover declined by 5.5 per cent to €1086.8m, as the deterioration in Spain, Portugal and China could not be compensated for by improvements elsewhere. EBITDA was down by 15.3 per cent to €267.4m. The deterioration on the Iberian peninsula led to provisions of €270m being taken in respect of the Spanish assets and a further €20m against the downstream assets in Portugal, giving a total value adjustment charge of €407.2m compared with €117m. This led to a trading loss ...

The US recovery is the one bright spot for Titan

30 August 2012, Published under Cement News

Titan’s first half turnover declined by 1.6 per cent to €547.9m and the EBITDA fell by 21.3 per cent to €112.1m, as the cement producer is caught amid a continued downturn it its domestic market of Greece and US operations prove to be its only bright spot. Titan’s trading profit fell 39.5 per cent to €50.5m, but the net financial charge dropped by 54.9 per cent to €20.5m, reducing the fall in the pre-tax profit to 21.8 per cent to €29.5m. The net attributable profit emerged 65.3 per cent l...

Sanghi Industries swings to full year profit, India

30 August 2012, Published under Cement News

India-based cement producer Sanghi Industries Ltd reported a net profit in fiscal year 2011-12 compared to a loss in the previous year as margins and sales improve in the fourth quarter. The company reported a net profit of INR81.87 crore for the fiscal year ended 30 June 2012 compared to a loss of INR29.55 crore in the previous fiscal.  Net sales rose 8.3 per cent to INR974.07 crore in FY11-12 compared to INR899.48 crore a year earlier. Commenting on the financial performance of the c...

Improved outlook for Omani cement companies

29 August 2012, Published under Cement News

Oman cement companies are set for brighter times ahead as inflows of cheap cement from the UAE decline and demand picks up both in the UAE and the sultanate, according to a report by Global Investment House (GIH). In its GCC cement sector report released on Tuesday, GIH said that Omani cement firms are set for steady growth in the coming quarters as growth in the construction sector leads to a higher cement demand.  “The inflow of cheap cement from UAE, which earlier roughly catered to...

JP Morgan lowers BBMG Corp target price, China

29 August 2012, Published under Cement News

JP Morgan has lowered its target price for BBMG Corp to HK$5.5 from HK$6.3 and maintained its ‘neutral’ rating. The research house says the weakness in the cement business was offset by BBMG’s robust property development business where revenue and gross profit both saw 42-44 per cent YoY growth. JP Morgan expects the stock to continue trading sideways although it might outperform its cement peers due to its property exposure. (Source: ET News Agency).

Cherat Cement full-year net profit jumps, Pakistan

28 August 2012, Published under Cement News

Pakistan-based producer Cherat Cement posted a rise in net profit to PKR436.8m for the fiscal year ended 30 June 2012 (FY12) from PKR68.851m, according to reports in the Pakistan Observer. Earnings per share rose to PKR4.57 in the period compared to PKR0.72. Turnover rose to PKR5.45bn in FY12 compared to PKR4.24bn in FY11 while the cost of sales increased to PKR4.30bn against PKR3.68bn. Pre-tax profit rose to PKR571.62m compared to PKR55.2m a year earlier. Cherat Cement supplies the North ...

China Shanshui Cement first-half net profit falls 41 per cent

28 August 2012, Published under Cement News

China Shanshui Cement has reported a net profit of CNY728m (US$114m) for the first half of 2012, representing a decline of 41 per cent YoY on the back of a slowing demand. In the period its operating revenue slid 5.8 per cent YoY to CNY7.38bn, with basic earnings per share of CNY0.26. Zhang Bin, Vice Chairman and General Manager of Shanshui Cement, said: “In the first half of 2012, affected by a contraction in China’s macro economy and slowdown in fixed asset investment, industry demand sl...