Cement News tagged under: Bestway Cement

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Bestway Cement: building for a greener future

27 May 2022, Published under Cement News

This week Bestway Cement announced that it is building a new 7200tpd cement plant in Paikhel, Mianwali district, Punjab province, Pakistan, which it expects to commission by the end of this year. The Pakistani cement company has slipped into second place behind Lucky Cement in terms of domestic cement capacity. However, it is not standing still and is preparing to fend off competition for its market share. As detailed in its 3Q22 report, Bestway Cement plans further expansion, helping it ...

Bestway Cement Ltd plans greenfield Punjab plant

24 May 2022, Published under Cement News

Bestway Cement Ltd has announced its plans to setup a greenfield cement plant with a capacity of 7200tpd of clinker in Punjab province, Pakistan, along with 9MW waste heat recovery plant. Bestway Cement has entered into an agreement with Sinoma International Engineering Co of China for engineering, procurement and construction (EPC). “In view of increasing demand for cement in the country, Bestway Cement has decided to setup a greenfield cement plant in District Mianwali along with 9...

Pakistani cement producers earn a profit in 1HFY22

11 March 2022, Published under Cement News

The major players in Pakistan’s cement industry have reported a profit during 1HFY22 in Pakistan. The Spectrum Research has attributed to an increase in the topline, a decrease in finance cost and an increase in other costs during this period, particularly in the 2QFY22. However, most of the companies did not announce any dividends.   Industry dispatches in 1HFY22 According to Lucky Cement , the cement industry-wide local sales volume registered a growth of 1.9 per cent to reach 24....

Bestway Cement commissions solar power plant

30 June 2021, Published under Cement News

Pakistan’s Bestway Cement and Reon Energy Ltd commissioned a 14.3MW captive solar power project at the producer’s unit in Farooqia, Khyber Pakhtunkhwa. The plant is reportedly part of a 50MW project deal dispersed across Bestway’s four locations in Farooqia, Chakwal, Kallar Kahar and Hattar. The new solar power plant is expected to generate around 78,385MWh annually, which would cut around 1Mt of CO 2 equivalent emissions over the lifetime of the project.

Bestway Cement to set up greenfield cement plant in Punjab

27 May 2021, Published under Cement News

Bestway Cement Ltd has informed the Pakistan Stock Exchange on 27 May that it is setting up a greenfield cement plant with a clinker capacity of 7200tpd, near Paikhel, Mianwali, Punjab province. Company Secretary, Sehar Husain, added that the plant would have a 9MW waste heat recovery plant built by Sinoma International Engineering Co Ltd of China.  In addition, all necessary regulatory approvals and financial arrangements have been secured. However, no time frame of completion wa...

Bestway reports 31% drop in FY19-20 turnover

16 September 2020, Published under Cement News

Pakistan-based Bestway Cement reported a gross turnover of PKR63.7bn (US$383.4m) in the financial year ended 30 June 2020, down 19 per cent YoY when compared with PKR79bn in FY18-19. Net turnover fell 31 per cent from PKR53.6bn to PKR37.1bn. Gross profit for the year decline from PKR16bn in FY18-19 to PKR1.1bn in FY19-20. Profit after tax dwindled to PKR0.5bn from PKR10.1bn in the previous financial year. The declining results have been attributed by a significant drop in prices, a substan...

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...