Cement News tagged under: Pakistan
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... |
Lucky Cement receives the 38th Corporate Excellence Award06 October 2023, Published under Cement NewsLucky Cement Ltd has won the Management Association of Pakistan’s (MAP) Top Corporate Excellence Award 2023 in the Industrial Category amongst all corporate sector organisations in Pakistan. Noman Hasan, executive director of Lucky Cement Ltd, received the award at the 38th MAP Annual Corporate Excellence Award Ceremony, held at the Marriott Hotel in Karachi on 4 October 2023. The Corporate Excellence Awards were instituted by MAP in 1982 to recognise and honour companies showing out... |
Pioneer Cement's profit rises by 149% in FY2304 October 2023, Published under Cement NewsPioneer Cement Ltd (PIOC) posted a profit after tax of PKR2.61bn (US$9.07m) in FY23 versus PKR1.05bn in the previous financial year, the company said in a statement to the Pakistan Stock Exchange on 28 September. This significant advance of 149 per cent YoY is mainly due to increased sales, which rose by 13 per cent to PKR36.16bn from PKR31.87bn in FY22. The cost of sales increased to PKR26.75bn from PKR24.67bn over the same period. The company incurred higher distribution costs of... |
Power Cement looks to enhance financial and tax efficiencies02 October 2023, Published under Cement NewsThe Board of Directors at Pakistan-based Power Cement Limited has requested the company's management explore and evaluate opportunities for a potential reorganisation of group companies. According to Mettis Global, the objective is to enhance financial and tax efficiencies across the group's entities. The decision came in response to an invitation from the group's leadership, urging the company to examine viable options that strengthen the balance sheets of group companies for financial... |
Cherat Cement's local dispatches fall while exports rise02 October 2023, Published under Cement NewsThe management of Cherat Cement Co Ltd ( Gulham Faruque ) held a corporate briefing session on 28 September 2023 to discuss the financial performance during FY23 and its outlook. To recall, the company posted earnings of PKR4.4bn (US$15.3m) in FY23 compared to PKR4.5bn in the previous year, a decline of one per cent YoY. The annual decline was due to higher financial charges and taxation, as presumed by AKD Research and AHL Research. Dispatches local/export In terms of sales volumes... |
Pakistan to expect a mixed trend in dispatches in September29 September 2023, Published under Cement NewsThe cement dispatch trend in Pakistan will likely be mixed in September 2023 due to monsoon rain and transport issues, according to Topline Pakistan Research. However, the All Pakistan Cement Manufacturers Association (APCMA) has yet to release official data to support or contradict this scenario. A mixed trend of dispatches was recorded during the first two months of the current financial year. The research house believes that Pakistan's total cement sales in September 2023 are expect... |