Cement News tagged under: corporate
Siam Cement Q3 net profit down 21 per cent22 October 2008, Published under Cement NewsSiam Cement PCL (SCC), Thailand’s biggest industrial conglomerate, reported a worse-than-expected 21 per cent fall in quarterly net profit on Wednesday as a weak economy undermined cement demand. Siam Cement’s near-term outlook is weak due to declining cement demand and a flood of new supply from petrochemical plants from 2009, analysts said. The Bank of Thailand cut its 2008 economic growth forecast last week to a 4.3-5 per cent range from 4.8-5.8 per cent, citing the impact of the global... |
Go for cement cos with focus on South, West India?21 October 2008, Published under Cement NewsAccording to a report by the Economic Times of India, a clear pattern is evident in terms of cement market trends, if one goes by the results declared by cement companies. Companies with a strong focus on southern and western markets stand to gain and should be the stocks investors should pick, say analysts. Results declared by UltraTech and JK Lakshmi reflect just that. Analysts point out that stocks with a distinct focus on southern and western markets like India Cement, Madras Cements an... |
West China Cement announces new finance director21 October 2008, Published under Cement NewsWest China Cement Ltd said it has appointed Po Ling Low as finance director with immediate effect. Low succeeds Zhenzun Tian as finance director, the company said, adding this will enable Tian to focus on his other functions where he is responsible for the company’s Lantian business, which is its largest operation. |
Indonesia: Bosowa to name strategic partner in 1Q0921 October 2008, Published under Cement NewsPT Semen Bosowa expects to get an investor to become its strategic partner in the first quarter in 2009 to develop the company, its chief executive officer, Erwin Aksa, said Monday. "It is hoped there will already be an investor to join in the company in the first quarter of 2009," he said. The cement company based in South Sulawesi is currently needing funds to increase its production capacity. The company actually already plans to conduct an Initial Public Offering as one of the options... |
Siam Cement: healthy 3Q08, but higher risks going forward21 October 2008, Published under Cement NewsThailand’s Siam Cement’s 3Q08 net profit is expected to fall 19% YoY and 15% QoQ to Bt6.09bn. Excluding the divestment gain booked in 3Q07, core profit should grow 8% YoY due to better margins at most business units. Meanwhile, lower QoQ profit would be attributable to weak cement demand and the absence of dividend income, while HDPE and PP spreads remained strong and its paper business margin has improved. 3Q08 net profit is expected to be better than our earlier expectation due to strong ... |
Mangalam Cement net declines 19.78% in Sep 200820 October 2008, Published under Cement NewsMangalam Cement announced a drop in standalone net profit for the quarter ended September 2008. During the quarter, the profit of the company declined 19.78% to Rs 223m from Rs 278.02m in the same quarter previous year. Net sales increased marginally 5.51% to Rs 1,408.37m, while total income for the quarter rose 9.40% to Rs 1,475.41 million, when compared with the prior year period. The company reported earnings of Rs 7.9 a share during the quarter, registering 19.79% decline over prior yea... |
UltraTech 2Q net profit falls 12%20 October 2008, Published under Cement NewsIndian cement maker UltraTech Cement Ltd said net profit for the fiscal second quarter fell 12% from a year earlier, hurt by a sharp increase in prices of coal and other raw materials. The company forecast weaker demand for cement due to a slowdown in the real estate and infrastructure sector. Net profit for the three months ended Sept. 30 dropped to INR1.64bn from INR1.86bn a year earlier, the company said in a statement issued Saturday. "A sharp increase in prices of coal and raw materi... |
JK Lakshmi Cement’s net declines20 October 2008, Published under Cement NewsJK Lakshmi Cement today announced a standalone net profit of Rs 26.88 crore for the second quarter of the current fiscal, a 63.42 per cent decline over the corresponding period a year ago. The company had a standalone net profit of Rs 73.50 crore in the September quarter last financial year, JK Lakshmi Cement said in a filing to the Bombay Stock Exchange. The standalone total income of the company rose to Rs 293.75 crore in the latest quarter, from Rs 267.79 crore in a year-ago period. Th... |
Ash Grove seeks anti-trust clearance to increase Eagle stake17 October 2008, Published under Cement NewsEagle Materials Inc said Thursday that Ash Grove Cement Co has filed a notice seeking anti-trust clearance to increase its stake in the company. Ash Grove notified Eagle Materials that it has a "good faith intention" to purchase in excess of US$63.1m of Eagle common stock, including shares already held, according to a filing with the Securities and Exchange Commission. Ash Grove previously filed in August that it had acquired about 5% of Eagle’s outstanding shares, for a purchase price of ... |
Chettinad Cement Q2 net dips 32 per cent17 October 2008, Published under Cement NewsCement manufacturer, Chettinad Cement Corporation on Thursday registered a net profit of Rs 34.18 crore for the second quarter ended September 30, a decline of 32.66 per cent over the corresponding period a year ago. The company had a net profit of Rs 50.76 crore for the second quarter ended September 30, 2007, Chettinad Cement said in a filing to the Bombay Stock Exchange. Total income of the company rose to Rs 283.79 crore for the quarter under review, from Rs 234.99 crore in the same pe... |