Cement News tagged under: FECTO Cement
Pakistan: Fecto Cement joins race for Dewan assets14 December 2016, Published under Cement NewsFecto Cement has announced that it intends to enter a bid for Dewan Cement’s North plant, a 1.134Mta facility located in Hattar. Earlier this month, Lucky Cement indicated that it would put in a bid for the Hattar plant, while The News reports that a Chinese firm is also in the process of carrying out a due diligence investigation. In a trading update released to the Pakistan Stock Exchange, Fecto Cement said that sales revenues for the first quarter of FY2017 were up by 16.3 per cent to ... |
Pakistan: Fecto Cement profit jumps 31.8% in FY15-1630 September 2016, Published under Cement NewsFecto Cement Ltd its financial results for the full-year period ended 30 June 2016. It reported profit after tax of PKR813.82m (US$7.78m) compared to PKR17.47m earned in corresponding period last year. This translates a growth of 31.8 per cent on YoY basis. The company declared a cash dividend of 20 per cent. The company has stated that its sales rose to PKR5.03bn from PKR4.77bn in last financial year. Thus, recorded a growth of 5.45 per cent on YoY basis. The company incurred less admi... |
Pakistan: Fecto Cement prosecuted over violating national park03 August 2016, Published under Cement NewsPakistan’s Capital Development Authority (CDA) has announced that it has stripped the Fecto Cement Company of its lease of plant and issued a fine of PKR420m (US$4m), the Express Tribune reports. The move comes after the company was accused of illegally dumping explosives in the Margalla Hills National Park, but also concerns a dispute within the state government itself. In June 2012, Fecto Cement had extended a just-expired limestone mining lease for 18 years. However, while this deci... |
Fecto Cement refutes mining lease cancellation claims25 March 2015, Published under Cement NewsFecto Cement Ltd has informed Karachi Stock Exchange (KSE) that its factory in Sangjani, Pakistan, is operating under normal conditions and dispatches are being carried out as usual. The company has refuted local media reports that production has been suspended due to the environmental degradation of the Margalla Hills Nationl Park. It has also denied receiving a letter from Bashir Ahmed, director Industries and Labour, ICT, Islamabad, informing the company of a cancellation of its mining... |
FECTO reports first-half loss, Pakistan27 February 2015, Published under Cement NewsPakistan-based cement producer FECTO Cement reported a 10.22 per cent drop in profit for the first six months of the current fiscal to PKR284.6m (US$2.8m). In a communication to the Karachi Stock Exchange, FECTO reported a slight rise in net sales to PKR2.39b from PKR2.32bn a year ago. The company incurred administrative expenses of PKR105.7m and distribution costs of PKR99.5m, compared to PKR85.4m and PKR107.2m in the comparative period of FY13-14. FECTO Cement operates a 0.78Mta cement p... |
Fecto Cement's profit after tax increases, Pakistan28 September 2012, Published under Cement NewsThe profit after tax of Pakistan cement producer Fecto Cement Ltd increased to PKR346.729m in the year ended June 30, 2012 (FY12) compared to PKR65.433m earned in the corresponding period in FY11. The board of directors declared that the company's earning per share has increased to PKR6.91 in the period under review against PKR1.30 in the same period last year. According to the financial results sent to Karachi Stock Exchange, the company's net sales increased to PKR4.342bn in FY12 against ... |
FECTO Cement lease extended, Pakistan04 September 2012, Published under Cement NewsFECTO Cement has obtained another 30 years’ extension to its lease. The lease agreement has been controversial since it was granted to the cement factory by former dictator, General Zia-ul-Haq. According to sources in the Capital Development Authority, the cement factory falls in a National Park Area consisting of the Margalla Hills, the Rawal Dam, and the adjoining green areas. The factory has also been causing concern due to alleged erosion of land and environmental pollution resulting in ... |