Cement News tagged under: Attock Cement

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Attock Cement makes loss after super tax

18 August 2022, Published under Cement News

Attock Cement Pakistan Ltd (ACPL) has announced its financial result for 4QFY21-22 (April-June 2022), posting a loss after tax of PKR59m (US$274,781) compared to a profit after tax of PKR149m in the same period last year. The main reason behind this loss has been the recognition of super tax and deferred tax liability, according to AHL Research. This took the FY21-22 (July 2021-June 2023) earnings to PKR1181m against PKR1107m in the same period a year earlier. Alongside the result, the co...

Two Pakistan cement plants complete power projects

04 January 2022, Published under Cement News

Attock Cement Pakistan Ltd (ACPL) and Flying Cement Co Ltd (FCCL) have both opened new power plants in Pakistan. ACPL informed the Pakistan Stock Exchange that its 20MW solar power plant project has been completed at Hub Chowki, Lasbella in Baluchistan. According to ACPL Company Secretary, Irfan Amanullah, the solar power project was implemented at an estimated cost of PKR1.8bn (US$10.19m) in collaboration with lead consultant Attock Energy Pvt Ltd and leading Chinese suppliers.  Meanwhil...

Attock Cement records 22% decline in revenue

25 October 2021, Published under Cement News

Pakistan’s Attock Cement has announced a 21.6 per cent YoY decrease in consolidated revenue to PKR5.73bn (US$32.86m) in the quarter ending 30 September 2021, compared to PKR7.31bn in the year-ago period. Profit also fell 46 per cent YoY to PKR373.3m from PKR691.7m in the 1QFY20-21.

Pakistan is entering a new cement capacity expansion phase

17 September 2021, Published under Cement News

In a cement conference, conducted by AKD Securities Ltd CEO, Muhammad Farid Alam, on 15 September 2021, Pakistan's cement industry producers confirmed that the country has entered another expansion phase. The total installed capacity of the cement industry in Pakistan is currently at 69Mta, and a further 18Mta of capacity is in the pipeline. This will take total production capacity to 87Mta by FY24. Atif Kaludi, CFO of Lucky Cement Ltd, Muhammad Rehan, CFO at Attock Cement Pakistan Ltd, S...

Attock Cement profit falls 16% in 1QFY19-20

15 October 2019, Published under Cement News

Attock Cement Pakistan Ltd (ACPL) of Pakistan has announced its financial results for the first quarter ended 30 September 2019. It declared a net profit of PKR357m (US$2.3m), against PKR423m earned in the same period last year. It shows profit dropped by 15.5 per cent due to a fall in revenue, which stood at PKR4.96bn from PKR5.68bn during this period. Other factors that led to the profit fall were the increase in distribution cost, administrative expenses and finance cost, says a notific...

Mounting challenges for Pakistan cement producers

08 July 2019, Published under Cement News

Pakistan's cement industry faces strong headwinds with new tax measures, an increase in gas and electric prices, unrest among cement distributors and retailers, dwindling local demands and negligible export to neighbouring countries, says a local research house. BMA Capital Management reports that challenging demand/supply outlook amid rising cost of operations triggered by supply chain constraints, a rise in federal excise duty (FED), etc has led to added pressure on cement prices. The e...

Attock Cement seeks transportation services for cement

05 July 2019, Published under Cement News

Attock Cement Pakistan Ltd (ACPL) has issued a tender for transportation services of cement in the southern zone. Offers are invited for transportation from ACPL Factory Hub Chowki, Lasbella, Baluchistan to Karachi City and at ports during the July 2019-June 2020 period. According to an announcement of company, tender is for transportation of bulk cargo for distribution in Karachi and export from ports. Bids are due in on 18 July. In the highly-competitive field of exports, ACPL has suc...

Attock Cement continues to dominate Karachi market in 9MFY19

11 June 2019, Published under Cement News

Attock Cement Pakistan Ltd (ACPL) maintained its dominant position during 9MFY19 in the core market of Karachi, leading in volumes and cement price. As part of the company's strategy, it also maintained a presence in the entire southern zone and in the lower Punjab market. As a result, the company's local  dispatches increased by 117.861t, or nine per cent, over the 9MFY19 period.   On the back of higher production following the start of its Kiln No 3 operations, the company aggressively e...

Pakistan cement firms' profitability remain vulnerable in 1H19

04 February 2019, Published under Cement News

Both Attock Cement and Lucky Cement recorded a fall in profit in their half-yearly results. According to Intermarket Securities Ltd, during 1H19 it is expected that the top cement firms will post a combined profit of PKR6.3bn (US$45.2m) during this period, down by 25 per cent YoY. An analyst said that the hefty PKR depreciation (by 21 per cent YoY), higher coal prices (up 11 per cent YoY) and a decline in local dispatches are likely to weigh down on profitability, offsetting the gains from...

Four months export revenue growth

23 November 2018, Published under Cement News

Pakistan's cement industry earned foreign exchange revenue of US$26.74m by exporting 616,648t of cement during October 2018, compared to US$29.05m on 671,913t of cement in previous month. This represents a fall of 7.9 per cent and 8.23 per cent in value and quantity, respectively on MoM, according to the Federal Bureau of Statistics. If compared to October 2017, earnings of US$23.3m on 472,216t of cement, translates to a growth of 14.8 per cent in earning of foreign currency and 30.5 per...