Cement News tagged under: corporate
Portugal Cimpor 1H08 profit seen down 10.7%26 August 2008, Published under Cement NewsCimpor is seen to post a 10.7 per cent annual drop in the first-half of 2008 net profit to EUR117.6m, estimates of five analysts polled by Reuters and cited by Jornal de Negocios showed on August 25, 2008. The slump in the profit was grounded on the increased financial costs and the surge of the energy prices. The turnover is expected to grow by 5.3 per cent to EUR983.1m mainly on the back of the good results on the Brazilian, Turkish and the South African markets. The estimates EBITDA... |
Holcim Indonesia seeks loan from IFC26 August 2008, Published under Cement NewsIndonesia’s third largest cement maker PT Holcim Indonesia is seeking a loan from International Finance Corp (IFC) to finance construction of a new cement factory in Tuban, East Java. The project cost is estimated to increase to around US$600m from previous estimate of US$240m as a result of an increase in the steel prices. Holcim Indonesian President Tim Mckay said the swelling cost requires additional capital expenditure this year. The new factory is expected to expand the production... |
Pakistan’s Lucky Cement year net profit up 5.1 per cent22 August 2008, Published under Cement NewsPakistan’s biggest cement maker, Lucky Cement, posted a better-than-expected 5.1 per cent rise in its full-year net profit on Thursday. The firm said it earned a net profit of PKR2.68bn (US$36 million) in the fiscal year ending on June 30, up from PKR2.55bn earned last year. Five analysts had forecast the firm to earn an average PKR2.55bn , Reuters estimates showed. |
Portuguese Semapa 1H08 profit drops 22 per cent YoY22 August 2008, Published under Cement NewsPortuguese industrial conglomerate Semapa closed the first half of 2008 with a net profit of EUR55.7m (US$82.7m), down 22 per cent YoY, the group informed in a filing the national bourse regulator CMVM on August 21. The annual drop reflected mainly a capital gain booked in the same period of the previous year, Semapa explained. The turnover of the group, however, went up by six per cent to EUR746.1m (US$1.108bn). The figure was below the preliminary projections of the analysts for a turn... |
Adelaide Brighton says looking at Cemex Humex arm21 August 2008, Published under Cement NewsAustralian cement producer Adelaide Brighton Ltd Managing Director Mark Chellew said the group would look at the Humes concrete pipes business that Cemex is looking to sell. However he also said Adelaide Brighton was unlikely to make any big acquisitions in the near term. "We look at all acquisitions going forward. But I think the reality is that we’re not planning any large acquisitions over the next six months. But at the same time we do look at everything," Chellew told reporters. |
Holcim: The Capital Group Has 5% Voting Rights Stake20 August 2008, Published under Cement NewsHolcim Ltd said Wednesday that The Capital Group Cos., Inc. holds slightly more than 5% of its voting rights. Swiss exchange law stipulates that crossing a 5% threshold requires official notification. |
Adelaide Brighton cements boardroom changes19 August 2008, Published under Cement NewsAdelaide Brighton Ltd has announced the retirement of director David Barro from its board, effective today. Mr Barro joined the board as a non-executive director in November 1999 and has extensive experience in the Australian construction materials industry. The company also said that Raymond Barro will join the board today as a non-executive director. Mr Raymond Barro is the managing director of the Barro Group Pty Ltd and a shareholder of Barro Properties Pty Ltd, Adelaide Brighton’s... |
Boral full-year profit falls 18.6 per cent on US housing slump19 August 2008, Published under Cement NewsBoral Ltd’s full year net profit has dropped 18.6 per cent, dragged down by an earnings loss at its US business, which is likely to worsen this year on that country’s ongoing housing slump. Still the $242.8 million profit for the 12 months to June beat the guidance of $234 million the construction materials maker provided in May. Revenue also lifted 5.8 per cent to $5.198 billion as Sydney-based Boral increased sales at a higher price for cement and other building products in Australia. ... |
Egypt’s Amreya Cement H1 net profit surges 83%15 August 2008, Published under Cement NewsEgypt’s Amreya Cement posted a net profit of E£193.8m (US$36.4m) in the first half of 2008, a 83 per cent rise on the previous year, the stock exchange said on Thursday. Egypt banned cement exports in March until Oct. 1 to reduce prices in the local market. Amreya Cement exported only 3 percent of its production in 2007. Investment bank EFG-Hermes forecast that Egypt’s demand for cement would grow at double-digit rates in the next three years to approximately 39Mt in 2008 and 43Mt in 2009.... |
CRH appoints finance director designate15 August 2008, Published under Cement NewsCRH plc, the international building materials group, announces the appointment of Mr. Glenn Culpepper as Group finance director designate. Mr Culpepper will succeed Mr. Myles Lee, the current Group finance director and group chief executive designate, who takes over from Mr. Liam O’Mahony on his retirement at the end of 2008. |