Cement News tagged under: corporate
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... |
Lafarge’s running profit falls by 8.1% in 200327 February 2004, Published under Cement NewsThe operating profit at the EBITDA level last year declined by 9.1% to EUR2,820m on a turnover 6.5% lower at EUR13,658m, before adjusting for exchange rates and changes to the sphere of consolidation. The 9.3% fall in the trading profit (EBIT) to EUR1,934m becomes a 6.9% increase when adjusting for movements in exchange rates and changes to the corporate structure. The net interest charge fell by 12.5% to EUR505m to give a running profit before tax 8.1% lower at EUR1,429m. Helped by asset... |
Titan’s profits advance in spite of adverse exchange rate movements27 February 2004, Published under Cement NewsTitan Cement Company reported an unchanged turnover of EUR1,035.7m in respect of 2003 compared with EUR1036.1m in 2002, but ignoring the adverse exchange rate impact, the turnover was ahead by some 9%. Sales of cementitious materials grew by around 6% to 13.4Mt and deliveries of ready-mixed concrete rose by some 15% to 4.9Mm3. The operating profit at the EBITDA level advanced by 1.1% to EUR295.6m as the margin widened from 28.2% to 28.5%. Cement represented 54% of group turnover and 80... |
Heracles pretax profit up25 February 2004, Published under Cement NewsGreek cement producer Heracles said on Tuesday 2003 group pretax profit rose 64 per cent to 117 million euros, helped by strong sales in the domestic market related to Olympic Games projects. Group sales increased 8.7 per cent to 607 million euros, lifting operating income 18.4 per cent to 122.7 million euros, the company said in a statement. It is majority-owned by France’s Lafarge. Heracles shares closed 2.19 per cent down at 8.04 euros versus a 1.76 per cent slide in the broader market .... |
Cement makers hurt by weak demand25 February 2004, Published under Cement NewsIndonesia’s cement industry is expected to remain in the doldrums this year due to various factors such as weak sales growth, excess production capacity, and the rising cost of energy - says the Jakarta Post in a recent report. Chairman of the Indonesian Cement Producers Association (ASI) Soepardjo said that sales volume would likely grow by only three per cent this year, mostly driven by governmental infrastructure projects. "We cannot expect higher growth because consumers’ purchasing ... |