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 53-year old cement manufacturers common price and marketing arrangements. In a statement following the release of its 1986 results, IT stated that the current year had started well. It reported that pretax profits in the year rose to 35.46 mln stg from 21.84 mln previously on turnover higher at 313.3 mln after 252.2 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 27 mln stg on acquisitions in 1986. It noted that its Western Australia hotels company had agreed to sell the Parmelia hotel for 31.5 mln Australian dlrs, some seven mln stg above end-1986 book value. The results were largely in line with forecasts and Rugby shares were little changed at 242p after 241 at Friday's close.