Cement News tagged under: Bestway Cement

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Mixed pattern in financial results visible in 9MFY20

27 April 2020, Published under Cement News

Three more Pakistani cement companies have announced their 9MFY19-20 financial results. Lucky Cement Ltd has reported a lower profit, while Maple Leaf Cement Factory Ltd (MLCF) and Bestway Cement Ltd have reported losses during this financial period. The obvious reason is attributed to increase in cost of sales alongside other unavoidable negative business factors.   Lucky Cement Lucky Cement reported that with the current economic challenges due to COVID-19 and post relaxation lockdown in...

Five Pakistan cement producers to release 3Q results amid coronavirus pandemic

17 April 2020, Published under Cement News

Pakistan's leading cement companies are scheduled to announce on 23 April their financial results for the 3QFY19-20 ended 30 March 2020.   Analysts anticipate mixed results, carrying some negative reflection of mitigation efforts to stop the spread of the coronavirus in the country. During this accounting period, the pandemic started to spread and the government enforced lockdown to control it in all provinces, aiming social distancing. This later triggered the closure of some cement plants...

Bestway's CEO takes seat in UK House of Lords

06 November 2019, Published under Cement News

British-Pakistani businessman Lord Zameer Choudrey has formally taken his seat in the House of Lords with a pledge to use his position to work towards improving trade relations between Pakistan and the UK.   As the Chief Executive of Bestway Group, Lord Choudrey manages Bestway Cement Ltd, United Bank Ltd and MAP Rice Mills, aside from owning Bestway Wholesale in the UK, Well Pharmacy, real estate investments, and a string of retail outlets, plus ethnic food and beverage import and distribut...

Bestway Cement’s profits sharply eroded in 1QFY19

18 October 2019, Published under Cement News

Bestway Cement Ltd (BWCL) of Pakistan has announced its financial results for the 1QFY19, ended 30 September 2019. It declared a net profit of PKR300m (US$1.97m) against PKR2.257bn earned in the same period last year. It shows 1Q profit plummeted by 86.7 per cent YoY. The fall in profit is reportedly due to a dip in the company's sales and a modest increase in finance costs as shown in the financial results sent to the Pakistan Stock Exchange. BWCL's sales stood at PKR15.47bn in July-Septem...

Bestway Cement wins Annual Environmental Excellence Award 2019

16 July 2019, Published under Cement News

Bestway Cement Ltd (BCL) has won the16th Annual Environment Excellence Awards 2019 for its vision and effective implementation of environmentally-friendly policies at all of its four plants in Hattar, Farooqia, Chakwal and Kallar Kahar, Pakistan. The event was organised last week in Karachi by the National Forum for Environment and Health (NFEH). Bestway is a pioneer in establishing Pakistan’s first waste heat recovery power plant (WHRPP) at a cost of US$47m. It is one of the few companies...

Bestway Cement earns higher profit in 1HFY19 

25 February 2019, Published under Cement News

Bestway Cement Ltd (BCL) has announced its financial results for the half year ended 31 December 2018. BCL declared earnings of net profit of PKR6.88bn (US$49.7), increased by 11.07 per cent YoY, as compared to PKR 6.19bn earned in the same period last year.   Muhammad Irfan Anwar Sheikh, Bestway Cement's director and CFO, has informed the Pakistan Stock Exchange (PSX) that net sales of BCL during the 1HFY18-19 increased to PKR40.34bn from PKR38.44bn during this period.   It incurred a hi...

Bestway Cement FY1Q19 earnings fall

25 October 2018, Published under Cement News

Bestway Cement Lts (BCL) announced its financial results for 1QFY19 on 22 October. It posted earnings of PKR2.25bn (US$16.9m) during this period, down by 24.6 per cent YoY. According to a filing of company to Pakistan Stock Exchange (PSX), its net sales also fell by 6.71 per cent to PKR 17.4bn from PKR18.66bn during this period, on YoY. Domestic cement companies are feeling the effects of the rise in input costs, stemming from higher global coal prices and the domestic impact of the rupe...

Bestway Cement records profits of PKR13.157bn

21 August 2018, Published under Cement News

Bestway Cement Ltd (BCL) has recorded a profit of PKR13.157bn (US$107.2m), down by one per cent YoY, in the fiscal year ended 30 June 2018. According to financial results received by Pakistan Stock Exchange (PSX) on 17 August 2018, the company announced an interim cash dividend of PKR0.3/share. No bonus or right shares were announced. The company's net sales increased to PKR77.11bn from PKR71.44bn in the same period a year ago. It incurred a distribution cost of PKR1.62bn against PKR1.5...

Bestway Cement starts dispatch from Farooqia Line II

03 July 2018, Published under Cement News

Bestway Cement Ltd (BCL) has started dispatches of cement from its new Farooqia Line II, having clinker capacity of 6000tpd, at Hattar in Khyber Pakhtunkhwa. Local supply commenced on 20 June, according to Sehar Husain, company secretary, in a notice to Pakistan Stock Exchange (PSX). Performance in 9MFY18 (July 2017-March 2018) BCL's cement production stood at 6.462Mt in 9MFY18, up by 13 per cent over last year's equivalent period. The local dispatches grew by 20 per cent, while exports ...

Loesche to supply Bestway Cement with new VRMs

30 May 2018, Published under Cement News

As part of an order from Sinoma International Engineering, Loesche has won new roller mill orders with Bestway Cement Company for its Farooqia cement plant in the Punjab province, 40km north of the capital, Rawalpindi, Pakistan. One high-performance four-roller mill VRM with a capacity of 450tph is to be used there for the grinding of cement raw material to a fineness of 12 per cent with sieving residue of R90μm. Two further Loesche mills from the middle performance range and a throughput ...