Cement News tagged under: corporate
Oman Cement Co net profit falls on price pressures27 April 2011, Published under Cement NewsOman Cement Company reported net profit of OMR4.2m (US$10.9m) in 1Q11 compared to OMR7.1m previously. Profits were down due to depressed selling prices as well as losses reported by the company on their investment in equity markets. Cement selling prices were lower by 16.4% to OMR26.2/t during the quarter compared to OMR31.3/ton in 1Q10. This double-digit decline in cement prices resulted in gross margins falling to 36.9% in 1Q11 as against 45.1% in 1Q10. Sales volume were down 1.6% to 0.4... |
Raysut first-quarter net profit falls27 April 2011, Published under Cement NewsOman-based cement producer Raysut Cement Company reported net profit of OMR5m (US$13m) in 1Q11 compared to OMR6.8m previously. The fall in profit was attributed to depressed selling prices along with losses reported by the company on their investments. Global Investment House’s (GIH) initial estimates stood correct as it expected that most of the financials would get diluted post-consolidation of Pioneer Cement. The handsome margins enjoyed by the company earlier dropped to 43% in 1Q11 com... |
Binani Cement reports quarterly rise, to hive off power division26 April 2011, Published under Cement NewsIndian producer, Binani Cement, reported a rise in standalone net profit for the quarter ended March 2011 to INR581.5m (US$13m) from INR169.00m in the same quarter last year. Net sales for the quarter for the quarter rose 10.88% to INR5,453.7m, while total income for the quarter rose 9.90% to INR5,488m, when compared with the prior year period. It posted earnings of INR2.97/share during the quarter, 3.58 times higher than the same period a year ago. Meanwhile, the company has approved in p... |
Al-Rajhi Cement to issue bonds26 April 2011, Published under Cement NewsDubai-based Al-Rajhi Cement Holding said the company has issued JOD85m (US$119m) Islamic bonds for its unit in Jordan which are being managed and arranged by Capital Investments. A premier investment bank based in Jordan, Capital Investments, said the seven-year sukuk was subscribed for by a number of leading Islamic and commercial banks. These include Capital Bank, Cairo Amman Bank, Islamic International Arab Bank, Union Bank, Jordan Kuwait Bank, Bank of Jordan, and Arab Islamic Bank, sai... |
Malaysia’s Tasek Corp reports 16% YoY rise26 April 2011, Published under Cement NewsMalaysian cement producer, Tasek Corp has reported a 16% YoY rise in 1Q11 net profit at MYR23.4m (US$7.8m). "The improved Group results was mainly attributable to better margin resulting from lower cost of production and cement price adjustment in May 2010," the company said. It added that higher interest income and higher contribution from share of associates’ profits also contributed to the better performance during the reporting quarter. The company also says, the "market for cement and... |
Sinoma Science & Technology profit falls, China26 April 2011, Published under Cement NewsSinoma Science & Technology reported a 28.37 per cent YoY decrease in net profit to CNY26.31m in the first quarter of 2011, reports Shanghai Securities News, citing a company filing. Sales revenue fell 1.73 per cent to CNY470m, with earnings per share (EPS) of CNY0.13, down 45.83 per cent. The Nanjing-based company attributed profit slump to lower product prices. |
Binani recommends 25% dividend25 April 2011, Published under Cement NewsBinani Cement Ltd at its meeting of the board of directors held on April 22 has recommended dividend of 25% (INR2.50 per equity share) subject to necessary approval. At the same meeting, the directors agreed in principle to spin off its power division (captive power plants and related assets) into a separate company, subject to necessary approvals and consent. |
Shiva Cement FY2010-11 dispatches up 7.2%25 April 2011, Published under Cement NewsShiva Cement Ltd has informed Bombay Stock Exchange that the dispatch of cement and clinker during the period FY 2011 (12 months) is up by 7.2% in comparison to FY 2010 (12 months). However, the despatches in Q-4 (Jan’11 - Mar’11) was down by 1.4% in comparison to the period (Jan’10-Mar’10). |
Gresik forecasts 15% net profit in 2011, extends capacity25 April 2011, Published under Cement NewsIndonesian cement producer PT Semen Gresik estimates its net profit will reach IDR882bn (US$102.3m) in the first quarter of this year, equal to an increase of 10% YoY, reports Asia Pulse. The company performed well in the first quarter of this year, said Dwi Soetjipto, the president of the state company and the country’s largest cement producer. Dwi said the company posted a 7.5% increase in sales with income estimated to reach IDR3.5tr in the first three months of the year. He said he is ... |
Holcim Philippines forecasts slower growth, may increase prices25 April 2011, Published under Cement NewsHolcim Philippines expects cement sales volumes to grow at a slower pace of 3-5% this year amid projections of lower public sector spending, Holcim Philippines Chief Operating Officer Roland van Wijnen said in a briefing. This is slower than the volume growth of 10% for the company last year, which exceeded the average 7% increase enjoyed by the local industry. Mr van Wijnen argued that there will be no more election spending this year and less public rehabilitation work. Furthermore, the e... |