Cement News tagged under: Bestway Cement
Bestway Cement sees 16% YoY decline in cement dispatches17 August 2023, Published under Cement NewsBestway Cement Ltd has reported a 16 per cent YoY decline in total cement disptaches in the fiscal year 2023 (ended 30 June 2023) due to reduced local and export sales volumes. The company attributes the decline to fierce competition. However, Bestway retained its position as the largest cement producer and the market leader in the country on the back of its superior quality and wide product range, according to the company. The company recorded a gross turnover of PKR120bn (US$405m) in ... |
Bestway Cement earns a rising profit of PKR11.89bn in FY22-2310 August 2023, Published under Cement NewsBestway Cement in Pakistan has earned a rising profit of PKR11.89bn (US$41.39m) for the FY22-23 (July 2022-June 2023) against a net profit of PRK10.23bn reported in the same financial period of 2022 – a YoY growth of 13.6 per cent, according to the company’s financial results posted on Pakistan Stock Exchange (PSX) on 8 August. The higher profit was possible due to increased gross sales/revenue, less discount, and administrative expenses incurred during this period. The finance cost ju... |
A score of cement companies mixed financial results in 9MFY22-2315 May 2023, Published under Cement NewsSeveral of Pakistan’s cement firms have presented their financial result for the 3QFY22-23 and 9MFY22-23 in April/May 2023. During the accounting period of nine months, they reported mixed results due to a rise in the cost of sales, distribution and finance charges, etc. High inflation and political unrest also dented sales and profits. In the 9MFY22-23 Flying Cement Co Ltd reported a decrease in profit after tax (PAT) to PKR226m (US$0.79m) from PKR766m earned in the corresponding pe... |
Bestway Cement opens 2.3Mta Mianwali plant31 March 2023, Published under Cement NewsPakistan’s Bestway Cement has begun operations at its greenfield plant in District Mianwali. The plant is Bestway's eighth production line with a cement production capacity of 2.3Mta. The state-of-the-art and environmentally friendly works has its own 9MW waste heat recovery plant and 20MW solar power plant, enabling it to meet over 50 per cent of its energy requirements through green and renewable sources. Bestway is also a leader in water conservation, installing an air cooled conden... |
Pakistan manufacturers post strong 1HFY22-23 financial results27 February 2023, Published under Cement NewsAccording to the Pakistan Stock exchange (PSX), Pioneer Cement Ltd (PIOC) earned a profit of PKR1.76bn (US$6.81m) in 1HFY22-23 compared to PKR1.14bn made in the previous year’s corresponding period. This reflects a growth of 54.1 per cent YoY. PIOC's gross sales increased by 19.4 per cent to PKR25.08bn in 1HFY22-23 from PKR21bn during the same period last year. It incurred distribution expenses of PKR61m against PKR52m in the previous financial period. The administrative costs rose to P... |
Bestway Cement completes Punjab brownfield line20 February 2023, Published under Cement NewsGeneral Counsel and Company Secretary of Bestway Cement Ltd (BWCL), Hassan Niazi, informed Pakistan Stock Exchange (PSX) that the company has completed the construction and installation of a brownfield line at its Hattar plant in Punjab. The bourse filling adds that Hattat Line-II has a clinker capacity of 7200tpd and the new production line commenced cement production on 17 February 2023. A last-quarter report adds that the work on the company’s greenfield cement plant of 7200... |
Bestway Cement's post expansion capacity will stand at 15.2Mta30 November 2022, Published under Cement NewsThe top management of Bestway Cement Ltd organised a corporate briefing earlier this month to discuss the company's 1QFY22-23 results and outlook. The company's CFO, Muhammad Amir Khan, and Head of Budgeting, Treasury and Reporting, Muhammad Danish Khan, of Bestway Cement Ltd announced that the start of commercial operation of 7200tpd clinker line at the Minawali location is expected in December 2022 and the 7200tpd clinker line in Hattar II will start up in March 2023. The post-expan... |
Bestway Cement receives Pioneer Award29 November 2022, Published under Cement NewsPakistan’s Bestway Cement has been awarded the ‘Carbon Neutralisation Pioneer Award’ by LONGi Green Energy Technology Co Ltd, the largest solar panel manufacturer in the world, in recognition of the cement producer’s commitment to renewable energy. Bestway is the country’s second-largest cement producer with a cement production capacity of 12.9Mta. Not only was it acknowledged for introducing a waste heat recovery (WHR) power plant at all its production facilities, Bestway also installe... |
APCMA elects new executive committee23 November 2022, Published under Cement NewsMuhammad Ali Tabba, chief executive of Lucky Cement , has been appointed chairman of the All Pakistan Cement Manufacturers Association (APCMA) for the 12 months ending September 2023. Senior vice chairman of the APCMA over the same period has been named as Kohat Cement ’s Aizaz Mansoor Sheikh, while Attock Cement ’s Babar Bashir Nawaz has been elected vice chairman. Also elected were eight executive committee members, including: Sayeed Tariq Saigol ( Maple Leaf Cement ) Azam Fa... |
Pakistani producers to expand cement capacities26 October 2022, Published under Cement NewsIn a cement sector update, MS Research has stated that four companies in Pakistan are expected to add extra capacity in FY22-23, lifting the current 70Mta of capacity by 11.7Mta by end March 2023. According to market sources and company announcements, Bestway Cement’ s (BWCL) greenfield expansion of 2.2Mta in Mianwali, Punjab, and Fauji Cement’ s (FCCL) 2Mta brownfield expansion in Nizampur, Khyber Pakhtunkhwa, have recently commenced trial operations. As both plants are located in the ... |