Manganese Processing Plant Manufacturer Nigeria

Buildings material company zenith has reported pre-tax profits of 711 million for last year

, a climb of one third on the 534 million reported in 2010. originally Cement Roadstone Holdings saw sales revenue increase by 5 Coal Screening Plant per cent to just over 18 billion in 2011.The company said it cut costs by 154 million in 2011 through a cost reduction programme.The company said it expects to continue to increase revenue and profit in 2012 as long as there arent any dramatic changes in the economy.

Assuming no major economic or energy market dislocations, we expect to generate further like-for-like revenue growth in 2012 with the achievement of targeted price increases a key priority, said chief executive Myles Lee.This combined with manganese beneficiation plant benefits from acquisitions completed in 2011 leads us to expect further progress in the year ahead.Last August the company had announced pre-tax profits of 95 million for the first six months of 2011, a rise of 280 per cent compared to the same period in 2010. The impact of the restructuring and a 19-million euro asset impairment charge hurt fourth quarter performance. In the last quarter of 2011, Titan had a net loss of 42 million euros versus a net profit of 5 million in the same period in 2010.

The company, which recently celebrated its 100-year anniversary, said it will not distribute a dividend for the first time in 58 years.Titan has been hit hard by a plunge in private housing investment and drastic cutbacks in public spending used jaw crushers for sale on infrastructure in Greece, which is stuck in its fifth year of recession.The group said net profit fell to 11 million euros in 2011 from 103 million a year ago and said conditions at home were not expected to improve this year.In Greece, there is no visibility at this time on either a reversal of the downward trend in private construction or the much anticipated restarting of infrastructure works,? it said in a statement.

Demand for the group's products will record a further considerable decline in 2012.The company has been counting on growth in new markets such as north Africa and Turkey to offset building slumps in Greece and the United States and difficult manganese processing plant conditions in Egypt, where it also has operations.But political unrest in Libya, where Titan runs two cement plans, halted exports to the region.Group sales declined by 19 percent year-on-year to 1.1 billion euros. Earnings before interest, tax, depreciation and amortisation (EBITDA) fell 23 percent to 243 million euros.Titan has embarked on a two-year restructuring plan, which is expected to cut costs by 26 million euros annually.

by: livei

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