Proactiveinvestors Australia - Building Material & Fixtures RSS feed http://www.proactiveinvestors.com.au Proactiveinvestors Australia - Building Material & Fixtures feed en Sun, 21 Jan 2018 15:23:44 +1100 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com action@proactiveinvestors.com Dundee neutral on Stuart Olson; buy Aecon http://www.proactiveinvestors.com.au/companies/news/123270/dundee-neutral-on-stuart-olson-buy-aecon-123270.html Fri, 04 Mar 2016 02:02:00 +1100 http://www.proactiveinvestors.com.au/companies/news/123270/dundee-neutral-on-stuart-olson-buy-aecon-123270.html Hybrid Coating confirms Fortune 500 deal http://www.proactiveinvestors.com.au/companies/news/122442/hybrid-coating-confirms-fortune-500-deal-122442.html Fri, 12 Feb 2016 01:40:00 +1100 http://www.proactiveinvestors.com.au/companies/news/122442/hybrid-coating-confirms-fortune-500-deal-122442.html Hybrid Coating moves closer to commercialisation http://www.proactiveinvestors.com.au/companies/news/120026/hybrid-coating-moves-closer-to-commercialisation-120026.html Fri, 04 Dec 2015 02:10:00 +1100 http://www.proactiveinvestors.com.au/companies/news/120026/hybrid-coating-moves-closer-to-commercialisation-120026.html D.R. Horton upbeat after quarterly sales surge http://www.proactiveinvestors.com.au/companies/news/117311/dr-horton-upbeat-after-quarterly-sales-surge-117311.html Wed, 11 Nov 2015 00:23:00 +1100 http://www.proactiveinvestors.com.au/companies/news/117311/dr-horton-upbeat-after-quarterly-sales-surge-117311.html KB Home sees better-than-expected rise in average selling price http://www.proactiveinvestors.com.au/companies/news/115069/kb-home-sees-better-than-expected-rise-in-average-selling-price-115069.html Home builder KB Home (NYSE:KBH) saw a bigger-than-expected rise in average selling prices in the end-August quarter.

The boost in prices offset lower-than-anticipated home completions, resulting in earnings beating the Street’s expectations.

Post-tax profit eased to US$23.3mln, equivalent to 23 cents a share, from US$28.4mln in the three months to the end of August 2014, or 28 cents a share.

Analysts had forecast earnings per share this time round of 22 cents, a penny below the actual level.

Revenue rose to US$840.20mln from US$586.23mln in the corresponding period of last year.

The company delivered 2,236 homes, up one-fourth from the 1,793 homes delivered the year before, while the average selling price rose 9% to US$357,200 from US$327,000.

"Our third quarter results showed broad-based improvement in virtually all key operational and financial metrics across our four regions," said chief executive Jeffrey Mezger.


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Fri, 25 Sep 2015 01:24:00 +1000 http://www.proactiveinvestors.com.au/companies/news/115069/kb-home-sees-better-than-expected-rise-in-average-selling-price-115069.html
Lennar raises the roof http://www.proactiveinvestors.com.au/companies/news/115089/lennar-raises-the-roof-115089.html House builder Lennar (NYSE:LEN) topped expectations with its quarterly results, on the back of a steadily improving housing market.

Post-tax profit in the three months to the end of August rose to US$223mln from US$177.8mln in the corresponding period of last year.

Earnings per share rose to 96 cents from 78 cents the year before, and were comfortably ahead of the consensus forecast of around 81 cents.

House completions during the quarter rose 16%, while the value of new orders jumped 20% to US$2.3bn, with the average sale price climbing 5% to US$350,000.

The sales pipeline is looking healthy, with new orders rising 10% to 6,495 homes.

Revenue rose 24% to US$2.49bn and was ahead of market expectations of US$2.42bn.

"During the third quarter, the housing market continued to improve in its slow and steady manner, as demonstrated in the past few years,” said Stuart Miller, chief executive officer of the Miami-based company. 

“The new home and rental markets continued to have significant pent-up demand, which positions us well for years to come. This demand is driven primarily by a large production deficit built up over the last several years, an increasing millennial population, reasonable affordability levels and high-rental occupancy rates,” Miller added.


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Mon, 21 Sep 2015 23:53:00 +1000 http://www.proactiveinvestors.com.au/companies/news/115089/lennar-raises-the-roof-115089.html
Cemex to exchange US$626 million in debt with new debentures http://www.proactiveinvestors.com.au/companies/news/107304/cemex-to-exchange-us626-million-in-debt-with-new-debentures-107304.html

Cemex, ‘Cementos Mexicanos’ (NYSE:CX) will exchange about US$626 million in subordinated convertible debentures, maturing in 2016, with new debentures.

The Monterrey based cement company said in a statement that it has agreed with certain institutional investors to exchange approximately US$626 million aggregate principal amount of of 3.25% convertible subordinated notes due 2016 issued by CEMEX for US$321 million aggregate principal amount of new 3.72% convertible subordinated maturing in 2020.

Cemex has not paid any funds in the operation related to the new debentures along with some US$42 million in American Depositary Shares (ADS).

The new debentures will be issued around May 28 with the date of final settlement of exchange operations is about June 8, 2015.

After the closing of these transactions, some US$352 in aggregate principal amount of existing debentures will remain outstanding, the company said.

The Monterrey company said that existing obligations are not enforceable (except for tax reasons) before it expires in March 2016.

The terms of the new obligations will be similar to those of subordinated convertible bonds due in 2020 issued by Cemex on March 13, 2015.

The cement company has accumulated a heavy debt burden since it bought Australia's Rinker in 2007. Last February, it revealed a plan to sell assets worth between US$1 and US$1.5 billion while cutting costs by $ 350 million, mainly from debt refinancing.

In the first quarter, the Company issued US$1.35 billion in long-term through coupons of between 4 and 6% to refinance liabilities at rates of over 9%.

Meanwhile, Cemex is getting ready to benefit from Mexico’s energy boom, which has generated demand for cementing oil wells. Cemex also plans to sell electricity at 30 to 40 percent lower rates, covering some 3-4 percent of Mexican demand.

The company says it can achieve this, competing against the state utility CFE, generating electricity through a fuel mix more inclined towards gas and renewable energy, as opposed to the government corporation that relies for the most part on fuel oil or bunker fuel.

 

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Mon, 25 May 2015 22:23:00 +1000 http://www.proactiveinvestors.com.au/companies/news/107304/cemex-to-exchange-us626-million-in-debt-with-new-debentures-107304.html
Diploma Group on funding drive http://www.proactiveinvestors.com.au/companies/news/153341/diploma-group-on-funding-drive-46553.html Diploma Group (ASX: DGX) is preparing to announce a capital raising, with the ASX granting the company a trading halt - with its shares placed in pre-open.

Earlier in the week the company announced that it had exceeds earnings guidance for FY13, with earnings before interest and tax of $3.5 million, 40% above the mid-range guidance of $2.5 million.

Net profit after tax of $1.6 million was generated from revenue of $163.4 million and was impacted by the sale of the last of the remaining residual stock from the Groups Zenith apartment project to the extent of $2.2 million.

The halt will last until the earlier of an announcement being made to the market, or the opening or trade on Tuesday 13th August 2013.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Fri, 09 Aug 2013 08:40:00 +1000 http://www.proactiveinvestors.com.au/companies/news/153341/diploma-group-on-funding-drive-46553.html
Diploma Group secures two construction contracts valued at $21 million in WA http://www.proactiveinvestors.com.au/companies/news/153339/diploma-group-secures-two-construction-contracts-valued-at-21-million-in-wa-44939.html Diploma Group (ASX:DGX) has been awarded two contracts worth a total of $21 million for construction of residences and a store in Western Australia.

It has signed a contract with TRG Properties for the construction of 33 residences over three levels in Perry Lakes Floreat.

The award of this contract, with stage 1 commencing in two weeks, follows the award of the $35 million Ocean Edge contract for TRG, in Port Coogee, which is scheduled for Practical Completion in next June.

Diploma has also received a $3 million contract to construct a standalone 1500 square metres Dan Murphys store in Kwinana, which is likely to be completed by October 2013.

With the award of two contracts, Diploma's order book has reached to $260 million, which will be completed over the next 18 months.

As the medium to high density residential market remains buoyant in Western Australia, Diploma holes to secure other opportunities over the next 6 months.



Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Thu, 27 Jun 2013 17:24:00 +1000 http://www.proactiveinvestors.com.au/companies/news/153339/diploma-group-secures-two-construction-contracts-valued-at-21-million-in-wa-44939.html
RuralAus Investments acquires additional land on South Australia‚Äôs Kangaroo Island http://www.proactiveinvestors.com.au/companies/news/143356/ruralaus-investments-acquires-additional-land-on-south-australias-kangaroo-island--41516.html RuralAus Investments (ASX: RUR) has purchased an additional 1,936 hectares of land on Australia’s third largest island, Kangaroo Island in South Australia, for A$150,000.

The company currently manages timber plantations, which offer the potential for returns in the longer term, as well as other potential benefits such as carbon sequestration rights.

RuralAus also owns the Timber Creek Sawmill located at Parndana on Kangaroo Island.

Following this latest acquisition, RuralAus now owns a total of 8,849 hectares of land on Kangaroo Island.

The new property comprises four separate blocks and is close to some of RuralAus’ existing land.

Currently, 883 hectares is planted with mixed species, mostly eucalyptus; 413 hectares is cleared, but not planted with trees – this includes firebreaks; and 640 hectares comprises native vegetation.

At current prices the trees have little or no value, however RuralAus believes that, over time, it can recover more than it paid for the blocks.

RuralAus is currently undertaking an underwritten renounceable rights issue to raise up to $1.5 million.

The company is offering 7.5 new shares for each share held at $0.003 each.

RuralAus is guaranteed at least $1.1 million of the total with around $1.05 million in underwriting agreements as well as two directors agreeing to take up their rights entitlements in full.


Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 03 Apr 2013 15:10:00 +1100 http://www.proactiveinvestors.com.au/companies/news/143356/ruralaus-investments-acquires-additional-land-on-south-australias-kangaroo-island--41516.html
Diploma Group wins $49M Rio Tinto accommodation contract http://www.proactiveinvestors.com.au/companies/news/153337/diploma-group-wins-49m-rio-tinto-accommodation-contract--34200.html Diploma Group (ASX: DGX) has been awarded its second contract with mining giant Rio Tinto (ASX: RIO), worth A$49 million, for the Wickham Accommodation Expansion Project.

The latest contract win follows the successful award in July 2012 of the $44 million Rocklea Palms FIFO Accommodation Project in Paraburdoo, and takes Diploma’s current order book to $346 million to be completed over the next 24 months.

Stage 1 of the Wickham Lodge FIFO Accommodation Project involves the design and construction of 198 one-person accommodation rooms over three storeys with associated services and infrastructure.

The design incorporates the use of modular prefabricated units that are manufactured offsite.

This first stage of the project starts immediately and is expected to be completed in September 2013.

Diploma recently reported a 60% increase in full year revenue for the 2012 financial year of $222 million.

The company also grew its cash position by 519% to $13 million.

The outlook is strong for Diploma, with new construction work of $271 million to be secured during financial year 2013, and the company expecting to return to profitability in the first half of 2013.  

Since the end of the 2012 financial year Diploma has secured $128 million in new contracts.


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Fri, 05 Oct 2012 14:20:00 +1000 http://www.proactiveinvestors.com.au/companies/news/153337/diploma-group-wins-49m-rio-tinto-accommodation-contract--34200.html
Diploma Group nabs A$55m in construction contracts http://www.proactiveinvestors.com.au/companies/news/153335/diploma-group-nabs-a55m-in-construction-contracts--27664.html Diploma Group (ASX: DGX) has secured two contracts worth A$55 million for the construction of apartments in Perth’s coastal suburbs of South Beach and Port Coogee.

Match Properties has awarded Diploma a $20 million contract for the construction of 107 apartments over three levels in South Beach Fremantle.

Work under the contract will begin in around four weeks and is scheduled for completion in June 2013.

This latest contract award marks the fifth one Diploma has secured with Match Properties.

The company previously awarded Diploma the Summer Apartment contract, also in South Beach, which is scheduled for completion in June 2012.

Meanwhile, Diploma has also executed a Binding Heads of Agreement with a subsidiary of TRG Properties to build 101 apartments in the recently established Port Coogee marina precinct.

Designed by architects Cameron Chisholm and Nicol, the building will comprise one, two and three bedroom apartments over seven levels and have panoramic views of the ocean.

The Binding Heads of Agreement is subject to sufficient presales being secured in the development.

Construction is scheduled to begin in September 2012 and take around 17 months to complete.

This is the sixth contract Diploma will have secured with TRG.


Growing order book


Earlier this year Diploma was awarded a $100 million design and construct contract from Frasers Property Australia for a 26 storey residential tower in Perth.

Construction of QIII is expected to be complete in January 2014.

The project is the second stage of a wider mixed use Queens Riverside precinct that will offer three luxury apartment buildings and a 236 room all-suites hotel, operated under the Frasers Hospitality brand.

Diploma Group has already been awarded a A$107 million construction contract for the first stage, which involves the construction of Fraser Suites Perth along with common basements and podium for the Queens Riverside precinct.

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Mon, 16 Apr 2012 13:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/153335/diploma-group-nabs-a55m-in-construction-contracts--27664.html
Diploma Group awarded A$100 million accommodation contract http://www.proactiveinvestors.com.au/companies/news/153334/diploma-group-awarded-a100-million-accommodation-contract-23984.html Diploma Group (ASX: DGX) has been awarded a A$100 million Design & Construct Contract from Frasers Property Australia for a 26 storey residential tower in Perth, Western Australia.

Construction of QIII will begin immediately, and is expected to be complete in January 2014.

The project is the second stage of a wider mixed use Queens Riverside precinct that will offer three luxury apartment buildings and a 236 room all-suites hotel, operated under the Frasers Hospitality brand.

Diploma Group has already been awarded a A$107 million construction contract for the first stage, which is now underway.

The first stage of the project is for the construction of Fraser Suites Perth along with common basements and podium for the Queens Riverside precinct.

This new contract will allow for the seamless extension of Diploma’s existing construction activities and resources.

Frasers has designed the Queens Riverside precinct as a new urban quarter for Perth city to meet rapidly growing demand for inner-city accommodation.

The stage two contact brings the value of Diploma’s contract awards in the financial year 2012 to A$188 million, with the outcomes of a further A$103 million worth of external contracts pending.

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Tue, 10 Jan 2012 16:57:00 +1100 http://www.proactiveinvestors.com.au/companies/news/153334/diploma-group-awarded-a100-million-accommodation-contract-23984.html
RuralAus Investments to commence Feasibility Study for renewable power plant on Kangaroo Island http://www.proactiveinvestors.com.au/companies/news/143354/ruralaus-investments-to-commence-feasibility-study-for-renewable-power-plant-on-kangaroo-island-16387.html RuralAus Investments (ASX: RUR) will conduct a full Feasibility Study into a 10MW biomass power plant located on Kangaroo Island off the South Australian coast, costing around $374,000.

The power plant would use plantation timber residue as fuel to provide a potentially ‘clean energy’ solution, with support received from South Australian Government agencies.

The state support into the study is due to the high costs and limitations of supply associated with power transmission to the island.

RuralAus said a 10MW renewable energy power plant will take around 18 months in planning and construction at an estimated cost of AUD$30 million.

Once operational, and in conjunction with the sawmill, it will also create considerable employment and economic input into the Kangaroo Island economy.

RuralAus owns and manages 5,000 hectares of timber plantation on the island as well as modern saw milling and processing facilities.

John Ipsen, chief executive officer, said “We have ready access to an excellent source of renewable energy, which can provide a clean and relatively low cost power solution for the island.”

RuralAus is also exploring a range of timber development options, including export logs and sawn lumber, as well as other infrastructure opportunities such as renewable energy pellet plants on the island.

Kangaroo Island is located 110 kilometres southwest of Adelaide and 15 kilometres from the tip of South Australia’s coast.

It is Australia’s third largest island.

 

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Wed, 18 May 2011 15:17:00 +1000 http://www.proactiveinvestors.com.au/companies/news/143354/ruralaus-investments-to-commence-feasibility-study-for-renewable-power-plant-on-kangaroo-island-16387.html
DSF International commences drilling at Grey Dam Gold Project in WA http://www.proactiveinvestors.com.au/companies/news/135434/dsf-international-commences-drilling-at-grey-dam-gold-project-in-wa-5440.html Western Australia gold explorer DSF International Holdings (ASX: DSF) commenced a 2000 metre RC drilling programme at Grey Dam, 70 kms east of Kalgoorlie, WA, today.

This is a significant step forward for DSF as it seeks to progress its Grey Dam gold project toward production.

DSF aims to develop a gold resource amenable to an open-pit mining operation at Grey Dam. The project is located nearby to several operating gold mines.

Chairman, Mr Gavin Rezos said, “Grey Dam presents an exciting and timely development opportunity to establish a resource position in a prime location, with nearby mines and infrastructure, at a time of very attractive gold prices."

Previous drill intercepts from RC drilling included some high gold grades: 6m @ 9.0 g/t gold; including 3m @ 17.0 g/t gold and 15m @ 4.28g/t gold; including 4 m@ 14.9g/t gold.

Results of the drilling program are expected to be available within 30 days.

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Fri, 05 Mar 2010 09:37:00 +1100 http://www.proactiveinvestors.com.au/companies/news/135434/dsf-international-commences-drilling-at-grey-dam-gold-project-in-wa-5440.html