Cement News tagged under: Pakistan
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... |
Pakistan's central bank reports fall in exports in FY22-2326 October 2023, Published under Cement NewsThe State Bank of Pakistan (SBP) released its annual report on the State of Pakistan’s Economy for the fiscal year 2022-23 on 23 October. In a brief review report on cement, the central bank stated that in line with subdued construction activity, cement production declined sharply by 13.7 per cent during FY23, compared to a 3.6 per cent drop in FY22. Furthermore, cement exports declined due to the economic slowdown in destination countries such as Sri Lanka, China and Bangladesh. Mo... |
Cherat Cement reported profits up by 3% in 1QFY23-2425 October 2023, Published under Cement NewsCherat Cement Co Ltd (CHCC), subsidiary of Gulham Faroque Group , has announced its financial results for the 1QFY23-24 ended 30 September 2023. It reported an increase in profit after tax to PKR1.53bn (US$5.47m) from PKR1.48bn earned in the corresponding period last year. This reflects a growth of 3.4 per cent on a YoY basis, according to CHCC financial results posted on the Pakistan Stock Exchange on 23 October. The substantial increase in profitability can be attributed to lower... |
Gas price increase expected for Pakistan's cement industry24 October 2023, Published under Cement NewsAccording to local reporters, Pakistan's government will likely increase gas prices for commercial and domestic users to meet some conditionality of the IMF programme and overcome losses of gas utility companies, gas price adjustments, and gas sector circular debts. The increase in gas prices would also be effective in the cement industry. The Economic Coordination Committee (ECC) is expected to approve gas price increases across the board (excluding protected consumers). The hikes range fr... |
Pakistan's cement and clinker exports grow 44% in 3MFY23-2420 October 2023, Published under Cement NewsPakistan’s cement industry has sustained a noteworthy growth in cement and clinker exports during the first quarter of FY23-24 (July-September 2023) due to the continued depreciation of the Pakistani rupee and the falling coal prices. However, the average value of these exports remained weaker. It fell to US$39.82/t from US$49.23/t but saw a growth in Pakistani rupees during this period. Pakistan’s cement and clinker exports increased by around 43.9 per cent in the 3MFY23-24 to US$66.6... |
Dandot Cement Co will start trial production soon19 October 2023, Published under Cement NewsDandot Cement Co Ltd ( 3 Star Group ), while providing an update about the Balancing Modernisation of Replacements (BMR) of 504,000t of its cement plant at Jehlum in Punjab, Pakistan, to the Pakistan Stock Exchange (PSX), expressed hope that the trial production is scheduled to commence soon after the equipment testing and commissioning phase. The company will resume its commercial operations in the current quarter. Upon completing the BMR programme, the company aims to achieve enhan... |
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... |