Cement News tagged under: corporate
Ras Al Khaimah Cement slups 6.9 per cent17 November 2008, Published under Cement NewsRas Al Khaimah Cement Co slumped 7.0 Fils (or 6.9 per cent) to 94 Fils. Compared with the General Index which fell 9.4 points (or 0.3 per cent) on the day, this represented a relative price change of -6.6 per cent. Significant downtrend The price crashed 30.9 per cent in the last week and 53.2 per cent in the last month. In the last three months the number of falls outnumbered rises 39:22 or 1.77:1. |
Gulf Cement Company hits year-low17 November 2008, Published under Cement NewsGulf Cement Company, Abu Dhabi’s largest Construction company by market capitalisation, hit a 52-week low of AED3.18 during the day. In the last three months the stock has hit a new 52-week low twelve times, pointing to a significant downtrend. The stock fell for a second day on Sunday. The share price crashed 52 Fils (or 14.1 per cent) to AED3.18. Compared with the General Index which fell 9.4 points (or 0.3 per cent) on the day, this represented a relative price change of -13.7 per cent. |
Egypt’s National Cement Q1 net profit falls 29 per cent17 November 2008, Published under Cement NewsEgypt’s National Cement reported a 29 per cent decline in first-quarter net profit to EGP39.4m Egyptian pounds (US$7.1m), the stock exchange said on Sunday. |
Siam Cement Plc reports 3Q earnings14 November 2008, Published under Cement NewsSiam Cement Plc’s third-quarter net profit dropped 21 per cent YoY to Bt5.94bn, The Nation reports. Though, the company said that in the same quarter last year, the net profit of Bt7.5 billion included the extra gain of THB1.9bn from asset sales. Without the extra gain, last year’s quarter net profit would be 6 per cent lower than this year’s level. In the filing to the Stock Exchange of Thailand, SCC said its net sale revenue totalled Bt79.3 billion, up 15 per cent from the same period la... |
Egypt’s Tora Cement profit down after export ban13 November 2008, Published under Cement NewsEgypt’s Tora Cement posted a 29 percent decline in profit in the nine months to the end of September after Egypt imposed a ban on cement exports for most of the year. The company said it made 206.4 million Egyptian pounds ($37 million) during the period. It did not give further details in a release to the stock exchange, and the company did not answer calls to its office. Egypt ended a cement export ban, imposed on March 29 to ease a local shortage, at the beginning of October. The governm... |
UAE’s Gulf Cement Q3 profit plunges12 November 2008, Published under Cement NewsGulf Cement Co , the UAE’s largest cement producer, posted a third-quarter net profit of just AED2.3m ($626,200), down from AED 85.3m a year earlier mainly on investment losses. A statement posted on the Abu Dhabi bourse website said the company’s investment portfolio had incurred a loss of AED42m in the first nine months of 2008 "due to the current situation in regional stock markets". Nine-month operating profit climbed 44 percent to AED250.6m as sale prices increased by an average 23... |
China’s Jilin Yatai wins approval for stake sale to CRH11 November 2008, Published under Cement NewsCement firm Jilin Yatai Group Co Ltd said it received approval from the Ministry of Commerce for the sale of a strategic stake to Ireland’s CRH Plc. In December 2007, the company agreed to set up a wholly-owned unit, Jilin Yatai Group Cement Investment Co Ltd, with registered capital of 2.743 bln yuan. It intends to inject its entire cement production assets, including stakes in all cement units, into the new entity. The company also agreed to sell a 26 per cent stake in the new entity t... |
SKP Securities’ report on Binani Cement11 November 2008, Published under Cement NewsBinani Cement Ltd (BCL) has shown a revenue growth of 42% from Rs 218 crores in Q2 FY08 to Rs 310 crores in Q2 FY09. Binani Cement Ltd. (BCL) is a leading Indian cement manufacturer focused on the key markets in Northern India and Western India. BCL manufacture two kinds of cement variants, OPC and PPC. It has a capacity to manufacture 6 MTPA of cement along with 25 MW coal/lignite based captive power plant (CPP). The company is one of the leading cement producers in Rajasthan with a 13% mar... |
Yanbu Cement owns 25% in new cement firm10 November 2008, Published under Cement NewsSaudi cement producer Yanbu Cement Co owns a 25 per cent stake in cement producer Saudi-UAE Concrete Products Co, which is currently under establishment, according to a contract signed on November 5. The stake represents SAR6m (US$1.6m), out of the SAR24m capital of the new company, YCC managing director, Abdul Rouf Abu Zanada, said in a filing to the Saudi Stock Exchange. |
Italcementi 3Q profit drops 30% to EUR66m07 November 2008, Published under Cement NewsItalcementi SpA said third-quarter profit fell 30 per cent on the depreciation of its stake in Calcestruzzi SpA. Net income fell to EUR65.9m from EUR106.8m in the third quarter of 2007, Rome-based Italcementi said in a stock-exchange statement today. Sales slipped three per cent EUR1.49bn. Italcementi said full-year results will probably fall in line with results from the first nine months. Source: Bloomberg |