Cement News tagged under: Pakistan
1QFY23-24 is a good omen for Pakistan’s cement industry03 November 2023, Published under Cement NewsPakistan’s cement industry saw healthy growth in profit after tax (PAT) between July and September 2023 (1QFY23-24) on the back of a 32 per cent YoY advancement in sales, according to Spectrum Securities Ltd, which evaluated the results of the top nine cement makers enrolled at the Pakistan Stock Exchange (PSX), representing 93 per cent of the sector’s market capitalisation. The top nine, which represent 93 per cent of the sector's market capitalisation, saw a 33.3 per cent grow... |
Pioneer Cement’s profits expand 60% in 1QFY23-2402 November 2023, Published under Cement NewsPioneer Cement Ltd (PIOC) announced its 1QFY23-24 result on the Pakistan Stock Exchange website, where the company posted a profit after tax (PAT) of PKR933m (US$3.32m) compared to PAT of PKR585m in the same quarter last year. This translates into a growth of 59.5 per cent YoY, due to expansion in revenue during the period. PIOC’s sales (gross revenue) increased by 4.7 per cent to PKR8.71bn from PKR8.32bn in the accounting comparative period. It incurred a higher distribution cost of... |
Kohat Cement Co's profit rises by 25% YoY01 November 2023, Published under Cement NewsKohat Cement Co Ltd (KOHC) has announced its financial result for 1QFY23-24 at the Pakistan Stock Exchange (PSX) posting a profit after tax (PAT) of PKR2.230bn (US$7.92m) compared to a PAT of PKR1.785bn in a year ago period up by 25 per cent YoY. The result, highlights by AHL Research, says that the topline during 1QFY23-24 clocked in at PKR11.064bn, displaying a jump of 25 per cent YoY compared to PKR8.853bn in the year-ago period. This growth in 1QFY23-24 is attributable to an increas... |
Flying Cement Co reports 55% rise in 9M net profit01 November 2023, Published under Cement NewsPakistan-based Flying Cement Co Ltd reported unaudited net sales of PKR1147m in the quarter ended 30 September 2023 (1QFY23-24), up 27.3 per cent when compared with the year-ago period when net sales reached 901m. The company’s gross profit increased by 77.4 per cent to PKR239.9m in the 1QFY23-24 from PKR135.2m in the 1QFY22-23. Operating profit advanced by 81.5 per cent to PKR212.4m from PKR117m over the same period. Net profit increased by 55.2 per cent to PKR88.8m in the 1QFY23-24 f... |
Bestway Cement posts PKR3.07bn profit in 1QFY23-2431 October 2023, Published under Cement NewsPakistan Cement producer, Bestway Cement Ltd (BWCL) announced its financial results for the first quarter that ended 30 September 2023, on the Pakistan Stock Exchange (PSX) website. It reported a decrease in profit after tax to PKR3.07bn (US$1.11bn) from PKR3.30bn in the corresponding period last year. The high cost of fiancé (over PKR3bn) can be attributed to lesser profit during this period. Its net sales increased by 42.65 per cent to PKR36.22bn from PKR25.39bn during this period.... |
DG Khan Cement saw profits up by 70% YoY in 1QFY23-2431 October 2023, Published under Cement NewsDG Khan Cement Co Ltd of Pakistan has announced its financial results for the first quarter ended 30 September 2023 with details posted on the Pakistan Stock Exchange (PSX) website. Its net profit after taxation rose 70 per cent to PKR660.57m (US$2.38m) from PKR388.93m during this comparative period due to higher revenue. According to AHL Research, factors responsible for the higher profit include the reduction in coal prices along with a surge in cement prices. The company's net sal... |
Maple Leaf Cement profits increase to PKR1.62bn in 1QFY23-2430 October 2023, Published under Cement NewsPakistan cement producer Maple Leaf Cement Factory Ltd ( Kohinoor Textile Mills Ltd ) announced its financial results for the first quarter ended 30 September 2023, on the Pakistan Stock Exchange (PSX) website. Its net profit after taxation rose to PKR1.62bn (US$5.84m) from PKR1.37bn during this comparative period due to higher revenue. Its net sales increased to PKR16.67bn in the 1QFY23-24 from PKR12.82bn in the year-ago period. It incurred a higher distribution cost of PKR1.15bn ag... |
Power Cement reports losses in 1QFY23-2430 October 2023, Published under Cement NewsPower Cement Ltd in Pakistan announced its financial results for 1QFY23-24 on the Pakistan Stock Exchange (PSX) website. It posted a loss after tax of PKR540m (US$1.94m) during this period, compared to a loss of PKR271m in 1QFY23. The increased sales could not bring profit to the company account. The company's sales increased to PKR9.73bn in 1QFY23-24 from PKR5.57bn in the year-ago period. Similarly, the cost of sales also increased to PKR7.29bn from PKR4.76bn. It incurred a higher ... |
Dewan Cement reports PKR115m loss in 1QFY23-2427 October 2023, Published under Cement NewsPakistan cement producer Dewan Cement Ltd (DCL) , subsidiary of Mega Conglomerate Ltd , announced its financial results for the 1QFY23-24, which ended 30 September 2023, on the Pakistan Stock Exchange (PSX) website. It reported a loss after taxation of PKR115m (US$0.414m) against a loss of PKR681m during this period. The loss can be attributed to the high cost of sales during this period despite increased revenue. Its net sales increased to PKR5.61bn from PKR3.53bn. Similarly, the ... |
Fauji Cement Co reports capacity utilisation of 64% in 1QFY23-2427 October 2023, Published under Cement NewsFauji Cement Co Ltd (FCCL) announced its financial results for 1QFY23-24, which ended on 30 September 2023, at the Pakistan Stock Exchange (PSX) on 25 October. The company said that the 1QFY23-24 saw a considerable increase of 14 per cent YoY in the industry’s domestic demand, a 48 per cent increase in exports to Afghanistan and an overall increase of 16 per cent. Thus, the company’s comprehensive dispatches increased by 25 per cent, with capacity utilisation of 64 per cent... |