Pakistan cement exports up 43 per cent
Cement exports in Pakistan increased by 43 percent to 2.39Mt in first quarter (from July to September) of current FY09 over 1.677Mt of the corresponding period of last fiscal 2007-08.
All Pakistan Cement Association Pakistan (APCMA) released the latest sales data for the first quarter (from July-September) of current FY09 on Tuesday.
The export of cement continued to show positive momentum, as export figures inflated by over 43 per cent in said period, analysts said, adding that at the same time cement companies continue to benefit from exporting cement and clinker to neighbouring countries and Middle East region. The cement dispatches for first quarter of current financial year 2008-09 declined by 3.10 per cent to 7.16Mt over 7.392Mt of corresponding period of last FY08.
According to data of APCMA, the local dispatches of cement in the current quarter of FY09 declined by 16 per cent to 4.772Mt against 5.715Mt of same period of last FY08.
In FY08 profitability of the sector plunged by over 62 per cent when compared to FY07 (taking a sample of 14 listed companies). It would not be surprising if the trend persists during the current fiscal year, especially with domestic sales showing a downward trend, analysts commented.
Published under Cement News
