Cement News tagged under: corporate
Deutsche Bank upgrades Adelaide Brighton rating21 April 2010, Published under Cement NewsDeutsche Bank’s rating on Adelaide Brighton has been upgraded from "hold" to "buy" due exposure by the cement company to the high growth states of South Australia and Western Australia. |
ING promotes Italy’s Buzzi Unicem stock to “buy”21 April 2010, Published under Cement NewsAnalysts at ING upgraded on Wednesday the stock rating on Italy’s Buzzi Unicem to “buy” from “hold.” At the start of the week, brokerage Equita forecast a EUR51m loss for Buzzi Unicem in the first quarter of 2010 with EBITDA in decline by EUR55m to EUR19m, and a 12 per cent yearly drop in turnover to EUR514m. |
BBMG targets 2010 capital expenditure21 April 2010, Published under Cement NewsBBMG said that its estimated capital expenditure for this year will be CNY4.5bn, according to CFO Wang Hongjun. The Hong Kong-listed firm will have sufficient funds in 2010, as it had CNY5.5bn in cash and cash equivalents at the end of last year and will issue more than CNY3bn worth of medium-term bonds, Wang added. This year, the company aims to produce 40Mt of cement. Its market share in Beijing, where it is based, is expected to be 80 per cent, while in Tianjin and Hebei provinces it f... |
Lafarge Jordan Cement to pay US0.91 cash dividend20 April 2010, Published under Cement NewsShareholders in Lafarge Cement Jordan, the country’s leading cement producer, approved on Monday a cash dividend for 2009 of 650 fils (US$91/share). The total dividend payout amounts to JOD39m from the company’s total JOD46.320m of net profit in 2009, comprising a six per cent drop in the previous year. Lafarge Cement Jordan’s sales have been hit by the entry of new Saudi competitors and weaker domestic demand as the company feels the impact of the global economic downturn, t... |
CNBM sees profit rise 55.6% in 200920 April 2010, Published under Cement NewsChina National Building Material Co Ltd realised a net profit of CNY2.35bn in 2009, a net profit 55.6% higher than that of 2008, according to the company’s annual report. Operating revenue rose 26.3% year on year, reaching CNY33.3bn, in 2009. Earnings per share were CNY0.96 in 2009, 41.2% more than in 2008. Chairman Song Zhiping attributed the strong growth in net profit to the Chinese government’s CNY4trn stimulus package implemented to cope with the financial crisis and to the restructur... |
TXI declares quarterly dividend19 April 2010, Published under Cement NewsTXI declared a cash dividend of US$0.75 per common share payable May 28, 2010 to shareholders of record May 7, 2010. TXI is the largest cement producer in Texas and a major producer in California. |
Southern Province Cement quarterly net drops, Saudi Arabia19 April 2010, Published under Cement NewsSouthern Province Cement Co said first quarter profit dropped five per cent because of the government’s imposed export ban, and a drop in sales. Net income fell to SAR189.6m from SAR200.2m in the year-earlier period, the cement maker said in a statement on the Saudi bourse website said. |
Indian producers may see a 20% rise in March quarter net19 April 2010, Published under Cement NewsRobust sales and a sharp spike in prices could see Indian producers posting at least a 20 per cent higher profits for the quarter ended March 2010, compared to the December quarter. Shree Cement chairman and managing director, H Bangur, said the expected better show in the March quarter could be attributed to healthy demand in the past six months due to a revival in the housing sector and the government’s increased focus on infrastructure. “Our estimates suggest that the domestic companies... |
Italcementi elects new BoD, confirms chairman, CEO19 April 2010, Published under Cement NewsThe annual shareholders meeting of Italcementi elected on Friday the board of directors for the three years to 2012. The shareholders’ also re-elected Carlo Pesenti chief executive officer (CEO), as well as board members Pierfranco Barabani, Alberto Bombassei, Alberto Clo, Federico Falck, Pietro Ferrero, Danilo Gambirasi, Italo Lucchini, Sebastiano Mazzoleni, Yves Rene Nanot, Marco Piccinini, Ettore Rossi, Attilio Rota, Carlo Secchi and Emilio Zanetti. The board’s newcomers are Elena Zambo... |
Lafarge shares up on pre-announcement talk –traders19 April 2010, Published under Cement NewsShares in Lafarge gained three per cent in a flat market on Friday as traders cited market talk the company could make a pre-announcement on its quarterly results. "There is talk the group could have a pre-announcement soon," a Paris-based trader said. Volume on the stock was brisk, representing 56 percent of the stock’s 90-day average daily volume by 0951 GMT, compared with 40 percent for France’s CAC 40. Lafarge’s first-quarter results are due on May 5. |