Pakistan cement sales showed an increase of 11 per cent in February against the same period of last year, bringing the average cumulative growth of 18 per cent during the last eight months of current fiscal year.
However, on a month-on-month basis, after falling down by eight per cent in January, the cement sales fell further, decreasing by 13 per cent, in February. The decline in sales was mainly on account of the prevailing rainy season throughout the country.
Total exports rose from 616,000t in FY04 to 906,000t in FY05 and the overall domestic sales grew from 7.7Mt in FY04 to 9.1Mt in FY05.
An analyst from AKD Securities said that during February-2005, domestic sales stood at 0.99Mt against 0.88Mt in FY04, up 12 per cent. On the other hand, rising from 75,000t in FY04 to 77,000t in FY05, the exports grew by only two per cent.
Having said that, the brokerage house expects that given the improvement in weather, cement sales would take off in March onwards.