Cement News tagged under: corporate
Thai cement stocks set for gains?29 April 2011, Published under Cement NewsThai stocks may see some short-term gains as investors selectively buy shares during the reporting season but quick profit-taking could limit any strong rise, analysts said. On Thursday, the benchmark SET index dropped 0.82 per cent to 1,092.31 as investors sold recent gainers, including Siam Cement which had risen after it released better-than-expected quarterly earnings. "The possible good quarterly results of big sectors such as energy and petrochemicals will help support the marke... |
Orient’s Cement Division performing well29 April 2011, Published under Cement NewsIndian conglomerate Orient Paper &Industries saw net profits climb toRs 775 million (+41% yoy) led by higher cement prices & other income. Revenues at Rs 6.96 billion (+27%), Cement (+22%) , Electricals (+35%) & Paper (+24%). Cement revenues grew 22% yoy to Rs 3.34 billion as realizations improved 29% yoy and 15.6% qoq led by price hikes in Orient’s key markets of AP and Maharashtra. Increasing costs remain a key concern however, as domestic coal price hike yet to reflect in P&F costs. I... |
Saint Gobain starts year well29 April 2011, Published under Cement NewsSaint Gobain’s first quarter volumes were ahead by 7.6%, having fallen by 1.7% in the same period last year, while prices improved by an average 2.0%. Allowing for exchange rate effects, turnover improved by 12.2% to €9,799m. Glass and high performance materials raised turnover by 13.9% to €1,359m and by 12.9% to €1,040m respectively. In construction products, interior materials such as insulation and plasterboard were helped by higher insulation standards and did better than exterior ... |
Dangote Group may list consolidated arm in November28 April 2011, Published under Cement NewsShould the bid to consolidate its cement production subsidiaries continue as planned, Dangote Group will list the emergent company (Dangote Cement Plc) on the Nigerian Stock Exchange (NSE) on November 5. Shareholders of both Dangote Cement and sister company- Benue Cement Company, are scheduled to meet in Kano on September 28, for a meeting ordered by the Federal High Court, Lagos, to consider and “if thought fit,” approve the merger bid. The new entity is expected to significantly boost t... |
Asia Cement net profit surges28 April 2011, Published under Cement NewsAsia Cement announced that net profit surged 274% YoY to CNY253m (US$40m) revenue rose 74% to CNY1.65bn. "The strong revenue growth was attributable to the production commencement of its new plants at Sichuan, Jiangxi, Hubei and Wuhan, as well as a significant increase in the average selling price of its products," says South China Research. The house adds, looking ahead, the group will speed up the construction of its new production capacities in Jiangxi as well as actively seek acquisi... |
Regulator directs bourses to list MI Cement, Bangladesh27 April 2011, Published under Cement NewsThe stock market regulator yesterday directed twin bourses to list MI Cement Factory Ltd on their trading boards, a move that ends a stalemate over the listing of the cement maker. The Securities and Exchange Commission issued a circular after a meeting on the MI Cement issue, said an SEC official. “The bourses will have to list MI Cement immediately after fulfilment of the conditions that the company proposed, and agreed by the regulator as well as the bourses,” the official said. Earlie... |
ACC net profit down on high input costs27 April 2011, Published under Cement NewsEscalating input costs saw ACC report a drop of 11 per cent in its consolidated net profit for the first quarter ended March 2011 at INR350.17 crore against INR392.88 crore in the year-ago period. This is despite an improvement in volumes at 6.16Mt (5.58Mt in the year ago period) during the quarter. Turnover was up at INR2556.21 crore against INR2240.33 crore while the profit before tax was lower at INR481.21 crore against INR563.58 crore. According to a company statement, while its opera... |
Thai Siam Cement 1Q group net up 34%27 April 2011, Published under Cement NewsSiam Cement Pcl (SCC), Thailand’s biggest industrial conglomerate, posted a 34 per cent rise in quarterly net profit on Wednesday, thanks to improved performances led by its petrochemical business. Siam Cement reported a January-March net profit of THB9.21bn (US$307m), or THB7.67/share, up from THB6.86bn a year earlier. |
Japanese cement firms seen moving into black in FY1027 April 2011, Published under Cement NewsTaiheiyo Cement Corp and Sumitomo Osaka Cement Coo are expected to report group net profits for the year ended 31 March 2011, overcoming year-earlier losses by streamlining domestic operations. Taiheiyo Cement apparently logged a net profit of JPY4bn (US$49m), recovering from the JPY37bn loss of fiscal 2009 and coming nearly in line with a previous forecast. Sales fell slightly to around JPY700bn but still beat the target. Operating profit tripled to JPY11bn, exceeding the firm’s forecast o... |
Cimpor announces dividend27 April 2011, Published under Cement NewsPortuguese cement major Cimpor says it will distribute the gross dividend of EUR0.20 per share from May 6. After tax, Cimpor shareholders will receive a premium of EUR0.16 euros, the company said in a statement. |