Cement News tagged under: Pakistan
Better capacity utilisation improves financial result of 1QFY23-2418 October 2023, Published under Cement NewsPakistani cement producers listed in the Pakistan Stock Exchange (PSX) have yet to post their financial results for the first quarter of FY23-24 (July-September 2023). Yet, Topline Pakistan Research believes that their profitability will increase by 40 per cent YoY in the 1QFY23-24 due to increased cement dispatches and improved gross margins during this first financial quarter. Net sales are anticipated to grow by 28 per cent YoY to PKR89bn (US$322.27m) in the 1QFY23-24 primarily due to ... |
PIBTL reap benefits from PKR appreciation to reduce exchange losses18 October 2023, Published under Cement NewsPakistan International Bulk Terminal Ltd (PIBTL) will benefit from Pakistani rupee currency appreciation against the greenback. The rupee is getting stronger due to administrative measures. PIBTL was incurring losses due to exchange losses. According to Spectrum Research, the strengthening of rupee against the dollar by four per cent since June 2023 is poised to mitigate the foreign exchange losses, as the PIBTL holds foreign currency-denominated loans of approximately US$18.4m. Moreover... |
Fauji Cement Co solar facilities could yield annual savings of PKR2.1bn17 October 2023, Published under Cement NewsBMA Research has focussed on and discussed how Fauji Cement Co Ltd (FCCL) will progress and reap the benefits of various measures to improve profitability. The research house believes that FCC saw an enhanced focus on its production efficiencies through green technologies. After its recent installation, the company enhanced its solar production capacity to 40MW. With the potential to generate 60GWh annually, the solar facilities could yield annual savings of PKR2.1bn (US$7.63m). In tand... |
Power Cement Ltd made worthy exports in FY22-2317 October 2023, Published under Cement NewsIn the financial year ended 30 June 2023, Power Cement Ltd (PCL), witnessed a remarkable surge in net sales revenue, registering an increase of 65 per cent compared to FY21-22, according to the annual report . The local sales revenue appreciated by PKR5.65bn (US$20.53m) (39 per cent), coupled with an increase in exports by PKR5.79bn (185 per cent) compared to the corresponding period. PCL witnessed a 177 per cent growth in gross profit in FY22-23 compared to the previous year. The gross... |
Lucky Cement Ltd wins award for Best Corporate Report – 202217 October 2023, Published under Cement NewsPakistan’s Lucky Cement Ltd has won the Best Corporate Report Award in the cement sector category at the “Best Corporate & Sustainability Report Awards Ceremony – 2022”. The recognition was jointly announced by the Institute of Chartered Accountants of Pakistan (ICAP) and the Institute of Cost and Management Accountants of Pakistan (ICMAP). Atif Kaludi, CFO of Lucky Cement Ltd, said, “At Lucky Cement Ltd, we consider governance, compliance, ethics, and transparency as the foundational p... |
Kohat Cement Co to renew cement bag manufacturing unit investment13 October 2023, Published under Cement NewsAmong matters to be considered in its 44th AGM of shareholders of 16 October 2023, Kohat Cement Co Ltd (KCCL) will approve, if deemed fit, the renewal of investment in the form of short-term running finance of up to PKR600m (US$2.126m) in Ultra Kraft (Pvt) Ltd (UKPL), an associated company. The members of the company, in their last AGM, held on 27 October 2022, approved and renewed the Short Term Running Finance of up to PKR600m in the associated company, Ultra Kraft, to meet its w... |
A review of the financial performance of Pakistan's cement sector during FY22-2312 October 2023, Published under Cement NewsTopline Research of Pakistan has reviewed the financial performance of the top 13 listed cement companies (out of 15) on the Pakistan stock exchange (PSX). These 13 companies comprise 99 per cent of the total sector market capitalisation. Pakistan's cement sector saw profits down three per cent YoY in FY22-23 despite the pre-tax profitability up 11 per cent YoY in FY22-23. The research house reports that Pakistan’s listed cement sector has reported after-tax earnings (PAT) of PKR51bn (US$... |
Attock Cement Pakistan earns profit in 1QFY2411 October 2023, Published under Cement NewsAttock Cement Pakistan Ltd (ACPL) has announced its 1QFY24 (July-September 2024) results today where the company posted profit after tax (PAT) of PKR1.54bn (US$5.67m) as opposed to PAT of PKR0.11bn in the same period last year. This could be the outcome of selling overseas units during this accounting period, according to the company's filing to the Pakistan Stock Exchange. However, research house Insight Securities (Pvt) Ltd says that the result came below expectations mainly due to lo... |
Fecto Cement reports loss in FY22-2309 October 2023, Published under Cement NewsFecto Cement Ltd has announced its financial results for the year ending 30 June 2023 (FY22-23). It shows a loss after tax at PKR133m (US$0.478m)) against the profit of PKR286m reported in FY22-23. The high cost of sales is expected to be one of the main reasons for losses. Fecto Cement ’s sales increased to PKR8.68bn in the FY22-23 from PKR6.77bn in the FY21-22. Similarly, the cost of sales rose to PKR8.36bn in the FY22-23 from PKR5.90bn in the year-ago period. The administrati... |
Crafters Polypropylene Packages achieves record AD*STAR production06 October 2023, Published under Cement NewsBy producing 199,000 AD*STAR block bottom sacks in 24 hours on a single conversion line, Crafters Polypropylene Packages (PVT) Ltd has achieved a production record that has never been reached before for this type of sack. Crafters supplies the AD*STAR sacks primarily to the cement industry, one of its main customers being Pakistan’s biggest cement producer, Lucky Cement . With a sack weight of 65g for a filling volume of 50kg, AD*STAR sacks are currently the most lightweight type of sack... |