Cement News tagged under: corporate
CRH hits year-low third time in three months20 August 2010, Published under Cement NewsCRH hit a 52-week low of €14.25 during the day. In the last three months the stock has hit a new 52-week low thrice. The stock fell for a second day on Thursday bringing its two-day fall to 76.0 cents or 5.0%. The stock price dropped 65.50 cents (or 4.4%) to close at EUR14.35. Compared with the ISEQ Overall index, which fell 54.2 points (or 1.9%) on the day, this was a relative price change of -2.5%. Volatility: the stock traded between a seventeen-month low of €14.25 and five-day high of E... |
Adelaide Brighton cements its future20 August 2010, Published under Cement NewsA strong balance sheet has set up Adelaide Brighton to investigate significant strategic investments, including a US$40m to US$50m expansion of its Birkenhead cement factory. Announcing a half-year net profit of US$68.8m, managing director Mark Chellew said yesterday that, as well as Birkenhead, the company was considering a US$40m expansion of its Mataranka lime plant in the NT and evaluating potential acquisitions to increase its aggregates operations. The board has also approved spendin... |
Adelaide Brighton’s interim up 57 per cent to US$69m19 August 2010, Published under Cement NewsAdelaide Brighton Ltd announced a net profit up 56.7 per cent to US$68.8m on revenue up 12.1 per cent to US$519.4m for the half year ended June 30. EBIT was up 38.4 per cent to US$98.7m. A 7.5c dividend and 2.5c special dividend, both fully franked, were announced, record date August 31. NTA backing per share is US$1.16 compared with US$1.15 for the previous corresponding period (pcp). Basic eps is 10.8c compared with 7.6c for the pcp. Net debt to equity is 19.8 per cent compared with 31.4 ... |
India: JK Cement won’t sell stake to fund expansion plans19 August 2010, Published under Cement NewsJK Cement has been on an expansion spree. It plans to up capacity across the North by brownfield expansion and is also looking to raise debt of INR800 crore to part finance the setting up of a plant in the middle-East. But, Group Executive President RG Bagla says the company does not intend to sell any stake even for expansion as of now. "There are three projects on anvil and we are exploring all financial options," he adds. Below is a verbatim transcript of RG Bagla’s interview on CNBC-TV1... |
Holcim’s net profit falls 12 per cent19 August 2010, Published under Cement NewsHolcim Ltd on Thursday joined rivals in warning that weak cement demand in Europe is offsetting steady growth in Asia as the company posted a 12 per cent drop in quarterly net profit. The cement and building aggregates maker said net profit fell to CHF399m (US$382.8m) in the three months ended June 30 from CHF453m a year earlier. Sales, however, rose 11 per cent to CHF6.16bn from CHF5.56bn due to acquisitions. The Switzerland-based company said there are no signs of a global economic recov... |
FLSmidth reports upward adjustment in expectations for 201019 August 2010, Published under Cement NewsFLSmidth’s interim report for the period 1 January - 30 June 2010 states a sharp increase in order intake and upward adjustment of expectations for 2010. The order intake increased 127 per cent to DKK 12,716m (first half of 2009: DKK 5,611m), while the order backlog increased 26 per cent to DKK 26,621m since the turn of the year (end of 2009: DKK 21,194m). Revenue decreased 13 per cent to DKK 9413m (1H09: DKK 10,766m) and earnings before interest, tax, depreciation and amortisation (EBITDA... |
Holcim 1H Sales CHF10.9B19 August 2010, Published under Cement NewsSwiss cement producer Holcim Ltd Thursday reported a 37 per cent drop in first-half profit as it paid a US tax charge and said the uncertain global economic environment makes it difficult to forecast the business outlook. Primarily as a result of acquisitions, consolidated net sales increased 8.1 per cent to CHF10.9bn, and operating EBITDA rose 9.3 per cent to CHF2.3bn. Cement sales grew by 4.1 per cent to 67.8Mt, and sales of aggregates increased by a more substantial 17.1 per cent to 73.... |
US$20m bond placement18 August 2010, Published under Cement NewsTrinidad Cement Limited has overshot by more than US$10m agreed limits on its short term borrowings, but has secured the forgiveness of its creditors in anticipation of the cement maker getting back on track with its financing plan by next month. The company’s debt plan had called for the issue of a long-term bond valued at US$20m (TT$127m), which TCL said was delayed to secure the approval of lenders. The terms of the bond are still being worked on, but it will have a life of three to sev... |
Turkey: Sabanci cement group eyes purchases in neighbouring regions18 August 2010, Published under Cement NewsSabancı Holding’s cement group has a partnership with German firm Heidelberg Cement in Ak ç ansa and holds Cimsa as its subsidiary. It controls nearly 20 per cent of the domestic market. Sabancı Holding cement group President Mehmet Göçmen has said the company has no plans to increase capacity or purchase new facilities in the domestic market but is conducting studies for around 15 acquisitions in nearby regions, including the Balkans, the Black Sea area and the Mediterranean basin, which... |
Brazil leads Cimpor’s volumes, turnover and profit18 August 2010, Published under Cement NewsCimpor’s first half turnover improved by 6.3 per cent to €1087.8m, thanks to increases exceeding 40 per cent in Brazil and in Turkey, while reductions were seen in China and Spain in particular. The EBITDA emerged just 0.2 per cent higher at €298.7m as the average margin declined from 29.1 to 27.5 per cent, as strong advances in Turkey, Brazil and Tunisia were offset by reduced profitability in Portugal, Spain, Egypt and India and a loss in China. After a 12.6 per cent increase in deprecia... |