Cement News tagged under: corporate
TPI Polene gains04 March 2004, Published under Cement NewsTPI Polene Plc (TPIPL), the country’s third-largest cement producer, projects that its 2004 income will expand by at least 15 per cent from last year’s income of 19 billion baht on the back of higher prices for cement and plastic pellets. “We believe our revenue will increase by about 15 percent this year since prices of cement and plastic pellets climbed up by about 10-15 percent,” Prasert Ittimakin, senior vice president of TPIPL said. Meanwhile, TPIPL chief executive officer Prachai Leop... |
Pacasmayo profits tick up on Zemex purchase03 March 2004, Published under Cement NewsPeru’s third largest cement maker Cementos Pacasmayo has reported 2003 profits of 56.8mn soles (US$16.9m), up 2.16 per cent up on the 55.6mn soles reported in 2002, according to information the company gave the Lima Stock Exchange. A positive contribution from industrial operations from new subsidiary Zemex Industrial Minerals more than made up for lower cement sales. Cement production fell 3.82 per cent from 741,463t in 2002 to 713,145t in 2003. Pacasmayo bought Canadian minerals company Z... |
Weather and currencies depress CRH03 March 2004, Published under Cement NewsThe Dublin-based building materials group CRH plc produced a 2.6 per cent increase in turnover to €11,079m, in spite of adverse exchange rate movements, particularly the US dollar followed by the Polish zloty, and weather conditions. At constant exchange rates, turnover advanced by 14.9 per cent. The operating profit at the EBITDA level emerged a marginal 0.1 per cent lower at €1502.9m while the trading profit was off by 0.3 per cent to €1044.7m. Helped by a 14.8 per cent reduction in the... |
Lion’s Share scooped Up by 20 big Investors03 March 2004, Published under Cement NewsKamol Leosivikul, president of Mida Assets, topped the list of investors purchasing new shares of TPI Polene in January, according to papers filed with the Securities and Exchange Commission. Mr Kamol purchased a total of 10 million shares for 370 million baht, or 3.33 percent of the total offering. The country’s third largest cement producer floated 300 million shares for 37 baht each and a par value of 10 baht each in its public offering from Jan 15 to 19. The lead underwriter was Tisco,... |
Aggregate Industries raises stake02 March 2004, Published under Cement NewsAggregate Industries increased turnover by UK£5.9m in 2003 to UK£1458.9m (US$2392.6m) but unfavourable trading conditions in the United States and a falling US dollar reduced the increase in the operating profit at the EBITDA level to just 0.9 per cent to UK£241.2m (US$395.6m) and the trading profit (EBIT) emerged a marginal 0.4 per cent lower at UK£167.5m (US$274.7m). Thanks to a much reduced interest charge, the pre-tax profit still increased by 4.2 per cent to UK£140.1m (US$229.8m). The... |
Siam City Cement named the best02 March 2004, Published under Cement NewsSiam City Cement Plc (SCCC), Thailand’s second largest cement manufacturer, has been named the best company in Thailand, followed by Kudu Co and Land & Houses Plc, in the Euromoney Asian company survey. SCCC was also rated the Best Asian Company in the construction sector followed by Gamuda (Malaysia) and Siam Cement respectively. The magazine’s eighth annual rankings were based on a survey of market analysts at major banks and research institutes. All respondents were asked to nominate the... |
Cima to issue Islamic bonds02 March 2004, Published under Cement NewsMalaysia: Cement Industries of Malaysia Bhd. said Monday its Negeri Sembilan Cement Industries Sdn. Bhd. subsidiary has received regulatory approval to issue 330 million ringgit ($1=MYR3.80) in Islamic notes and bonds. Negeri Sembilan Cement, will issue up to MYR130 million in seven-year bonds, Cement Industries said in an exchange filing. Negeri Sembilan Cement will also issue five tranches of notes and bonds with maturities of one to five years worth MYR200 million. AmMerchant Bank is t... |
RMC: uncertain prospects remain01 March 2004, Published under Cement NewsDeutsche Bank analysts have downgraded RMC to a sell, price target 600p. While the appointment of new management and a turnaround in the troubled UK business have sparked a re-rating of RMC (he stock was up 84 per cent in 2003) the analysts key worry is that the German business will continue to struggle while its peers are recovering: RMC is long ready-mix, short cement in Germany. It needs ready-mix prices to go up. Higher cement prices have less benefit to RMC. Higher cement profits are... |
Kuwait Cement profit rise01 March 2004, Published under Cement NewsKuwait Cement Co posted a net 2003 profit of 19.56 million Kuwaiti dinars (US$66.5m) on Sunday, up 69 per cent from the 11.6 million dinars earned in 2002. The Kuwait Stock Exchange said in a profit report that the cement-makers’ earnings per share climbed to 52.06 fils in 2003 from 30.92 fils in the previous year. The company’s board recommended a cash dividend of 25 fils per share. |
Lucky Cement H1 profit rises01 March 2004, Published under Cement NewsLucky Cement Ltd posted an increase of 89.6 per cent in its half year net profit to Rs 275m compared to Rs 145m same period last year on the back of improved margins and higher sales. In a statement to the Karachi Stock Exchange (KSE) Pakistan, it said the company has also made a deferred tax payment of Rs133m. Most analysts said improvement in profit was mainly on back of overall improved margins for the cement sector companies and higher sales. ³Earnings for the entire sector have improved... |