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Adelaide Brighton sees improved outlook, Australia

17 August 2012, Published under Cement News

Australian building materials producer Adelaide Brighton has lifted its first-half net profit by nearly 10 per cent and indicated a modest rise in annual earnings. Net profit rose in the six months to 30 June to A$67.5m (US$70.5m) from A$61.4m in the previous corresponding period. Revenue rose 8.3 per cent to A$550.3m from A$507.9m. Mark Chellew, managing director, said the company’s annual net profit could rise by as much as 4.4 per cent depending on the timing of cement sales and if ...

West China Cement net profit drops 65%, China

16 August 2012, Published under Cement News

West China Cement has reported a 65 per cent drop in first-half profit as selling prices declined and production costs increased. Net income dropped to CNY138.5m (US$23m) from CNY419m a year earlier, the cement producer said in a filing to the Hong Kong Stock Exchange yesterday. Sales were down 7.1 per cent to CNY1.59bn. The Shaanxi cement market will gradually recover this year, with pricing power maintained and possibly improved, the company said in a statement. Earlier this week, ...

Lucky Cement domestic sales boost full-year profit, Pakistan

16 August 2012, Published under Cement News

Lucky Cement reported a 71 per cent rise in full year net profit as domestic sales offset a decline in exports. Net income was PKR6.78bn (US$71.8m) in the 12 months ended 30 June with a PKR3.97bn (US$623.5m) a year earlier, the Karachi-based company said in a filing to the stock exchange. Revenue rose 23 per cent to PKR39.1bn while sales were three per cent higher at 5.97Mt. Domestic sales rose seven per cent while exports were down 4.7 per cent to 2.25Mt, the company said. A total ...

Egypt’s Misr Beni Suef earnings edge higher, hit by power shortages

16 August 2012, Published under Cement News

Misr Beni Suef Cement announced that net profit for the first half of 2012 reached EGP188m (US$31m) versus net profit of EGP155m in the same period of last year. Meanwhile, the company said it lost EGP60m due to an interruption of electricity supplies causing productivity to decline by 70 per cent and output falling to 8000tpd from the usual 11,000tpd.

CRH advances strongly in the Ukraine

15 August 2012, Published under Cement News

CRH’s first half turnover improved by 5.2 per cent to €8,588m, but the EBITDA came off by 1.1 per cent to €568m. The better weather conditions in North America were offset by a worse experience in Europe. The trading profit was stable at €184m, while the pre-tax profit improved by 23.2 per cent to €117m, helped by gains on disposal, and the net attributable profit advanced by 36.8 per cent to €104m. Net debt at the end of June was 0.7 per cent lower at €3915m, to give gearing of 37.5 per ce...

Credit Suisse: China materials sector outlook

14 August 2012, Published under Cement News

With 1H12 earnings season ahead, Credit Suisse believes "surprises are more on the downside for the China material sectors." It expects a "deep loss" in the steel and aluminium sector in general, followed by base metals and Chinese cement names with 1H12 earnings set to decline 30-50 per cent on average; earnings for coal and gold sectors should be more stable on-year, yet, moderate downside risk remains. "Nevertheless, we do not believe the negative earnings would be too much of a negative ...

India Cements 1Q net profit drops 39.2%

14 August 2012, Published under Cement News

India Cements Ltd today said that it has reported a decline of 39.2 per cent in its net profit for the first quarter ended June 2012 at INR62.07 crore. The net profit of the company stood at INR102.03 crore during the same period a year ago, said India Cements in its filing to the Bombay Stock Exchange on August 13, 2012. Meanwhile, the company has said it is exploring at possibilities of exports to Sri Lanka and South African countries. Speaking to Business Standard of India, N Srini...

Kuwait Cement first half net profit rises

14 August 2012, Published under Cement News

Kuwait Cement Company said in a bourse filing yesterday it booked a net profit of KWD8.84m (US$31.3m) for the six months ended June 30, 2012, slightly up from KWD8.69m a year earlier. The cement producer reported earnings per share (EPS) of 14.31 fils for the first half of 2012, compared to 14.04 fils a year ago. For the second quarter of 2012, the company's net profit stood at KWD3.71m, down from KWD3.81m in the same period last year. The total assets rose to KWD 266.6m at end-June 2012 ...

Fujairah Cement reverses loss, increases sales, UAE

13 August 2012, Published under Cement News

Fujairah Cement reported increased sales in the six months to June 2012 of 16 per cent to US$$83.6m in the six months to June 30 and it reversed a $2.4m loss last year into a $5.5m profit. Earnings per share also climbed to 1.55 cents (5.7 fils), compared to a loss of 0.68 cents (2.5 fils) last year. Despite this, however, the company said that the recession that has been felt in the construction sector is "continuing". A statement accompanying the firm's results from general manage...

Taiheiyo Cement falls 7% on weaker April-June operating profit

13 August 2012, Published under Cement News

Shares in Taiheiyo Cement Corp opened lower Monday, weighed down by the firm's announcement on Friday that it recorded a JPY490m (US$6.3m) operating profit for the April-June quarter, an improvement over the previous year's JPY1.2bn loss but lower than the JPY1bn  profit predicted by The Nikkei.