Cement News tagged under: corporate
Indocement sees profit up 78%23 March 2009, Published under Cement NewsPT Indocement Tunggal Prakarsa Tbk, a unit of HeidelbergCement, expects sales to drop for the first time in six years as the local economy slows. The unit of Germany’s HeidelbergCement AG forecasts that Indonesian cement consumption could decline six per cent this year, after growing by 2.5 per cent in 2008, finance director Christian Kartawijaya said. The company last year sold 12.3Mt of cement in Indonesia. A drop in sales volumes and a 6.1 per cent depreciation of the rupiah may affect ... |
El Ameriyah net profit gains, Egypt23 March 2009, Published under Cement NewsEl Ameriyah Cement, a unit of Cimpor, said its full-year profit in 2008 gained 43 per cent. Net income increased to E£408.1m (US$72.7m) from E£286m, the Alexandria, Egypt-based company said in a statement on the website of the Egyptian Exchange today. |
Ha Tien 2 cement maker to go public from Mar 2623 March 2009, Published under Cement NewsOn March 26, 88 million HT2 coded shares of Ha Tien 2 Cement Joint Stock Co will be officially traded on Ho Chi Minh Stock Exchange (STC) with the comparative price of 20,000 dong per share and the trading price amplitude of +/-20%. Ha Tien 2 cement maker has a chartered capital of 880 billion dong, headquartered in Kien Luong Township, Kien Giang province’s Kien Luong Dist. Last year the firm reported the business results with nearly 1.259 trillion dong in net revenue, 176.494 billion don... |
Cemex suspends 1Q guidance23 March 2009, Published under Cement NewsCemex announced that it is suspending its quarterly guidance announcement, a long-standing company practice, due to the firm’s ongoing refinancing discussions and uncertainty in its markets. The company has traditionally provided interim guidance every quarter about two weeks prior to quarter-end, which usually includes EBITDA expectations and an update on volume trends in Cemex‘s main markets. |
Indocement 2008 net profit IDR1.75trn Vs IDR980.10bn20 March 2009, Published under Cement NewsCement maker PT Indocement Tunggal Prakarsa said Friday its 2008 net profit rose 79% to IDR1.75trn from IDR980.10bn a year earlier, helped by higher revenues. Net revenues for the January to December period of 2008 rose 34% on year to IDR9.78trn from IDR7.32trn a year earlier. The nation’s second-largest cement company by output didn’t give any comment for its 2008 performance. Assets at the end of December rose 12% to IDR11.29trn. |
HeidelbergCement says it’s in ‘intensive talks’ with investors20 March 2009, Published under Cement NewsHeidelbergCement AG said it’s in “intensive talks” with potential investors and extended a deadline to reorganise finances. The economic slump is causing negotiations to take longer than usual, Chief Executive Officer Bernd Scheifele said at a press conference in Heidelberg, where the company is based. It plans to sell as much as EUR2bn (US$2.7bn) in assets to help pay back debt and now aims to complete the financial reorganization by year-end instead of by midyear. The suicide of main sha... |
Binani Cement eyes LSE listing20 March 2009, Published under Cement NewsThe Braj Binani Group is looking to get its cement manufacturing flagship Binani Cement listed on Alternative Investment Market (AIM) of the London Stock Exchange. The company is also in talks with overseas Chinese and Middle East banks to meet working capital needs of its Chinese and Dubai ventures. Speaking to reporters at a meeting held in Kolkata on Thursday, Binani Cement managing director Vinod Juneja said: "We are exploring the possibility of an overseas listing to retire some of Bin... |
Holcim cut at Morgan Stanley on cost of refinancing19 March 2009, Published under Cement NewsMorgan Stanley cut its rating on Holcim to underweight from equal-weight and reduced its price target by roughly 60% to 34 Swiss francs, citing a lack of visibility on the cost of refinancing. |
Carib Cement’s profit jump on improved efficiencies18 March 2009, Published under Cement NewsWere it not for a near-14 per cent devaluation in the Jamaican dollar against its main trading counterpart - the US dollar - Caribbean Cement Company would have seen an increase in its net profit last financial year. The cement manufacturer made an operating profit of J$949m in 2008, 19 per cent higher than the J$798m it made during 2007. Carib achieved this on higher revenue up from J$7.84bn to J$8.81bn, despite a 7.9 per cent reduction in sales volume. Higher finance costs – J$377m comp... |
Santander: Cemex may report earnings decline18 March 2009, Published under Cement NewsCemex probably will report more than 25 percent drops in first-quarter sales and EBITDA, Banco Santander SA wrote. “We are forecasting continued weakness in operating results affected by the slowdown in construction activity in most of Cemex’s markets and the weakness of the Mexican peso, the British pound and the euro against the US dollar,” analyst Gonzalo Fernandez wrote in a note to clients today. Cemex may report a 29 per cent decline in first-quarter sales and a 26 per cent fall in E... |