	rugby well prepared for new cement competition rugby portland cement plc rbyl l said it was well placed to operate in the new circumstances following the ending in february of the year old cement manufacturers common price and marketing arrangements in a statement following the release of its results it stated that the current year had started well it reported that pretax profits in the year rose to mln stg from mln previously on turnover higher at mln after mln the strong recovery of the first six months continued into the second half although u k cement demand rose only modestly results benefitted from cost cutting and higher volumes the decision by the cement makers federation to end the pricing agreement reflected pressure from higher competition due to growing imports and the possibility that the system would be taken to the restrictive practices court by the u k government it stated that its john carr unit benefitted from strong organic growth although overseas its cockburn operation had a difficult period with high maintenance costs and increased depreciation charges the company is proposing to change its name at the next annual meeting to rugby group plc rugby said it spent mln stg on acquisitions in it noted that its western australia hotels company had agreed to sell the parmelia hotel for mln australian dlrs some seven mln stg above end book value the results were largely in line with forecasts and rugby shares were little changed at p after at friday s close reuter 
