Cement News tagged under: Bestway Cement

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Bestway consolidated turnover up 45.5%

22 February 2016, Published under Cement News

Bestway Cement Ltd (BCL) said that its consolidated net turnover for the first half of FY15-16 soared by 45.5 per cent YoY to PKR21.1bn, largely due to the acquisition of Pakcem Ltd, an increase in domestic demand and stable retention prices.   The company's gross margin of PKR8.9bn rose by more than 61.9 per cent over the same period last year. Profit before tax for the period amounted to PKR7.6bn, representing a YoY increase of 37 per cent. Consolidated profit after tax also climbed 47 pe...

Bestway Cement recognised for sustainability endeavours

21 January 2016, Published under Cement News

Bestway Cement, together with its newly-acquired Pakcem unit, was honoured for its efforts in contributing to sustainable development, when it received four awards at an award ceremony held in Islamabad, Pakistan. Bestway won the coveted awards in the categories of Green Energy Initiatives, Community Development and Service, Education and Scholarship and Employee Engagement and Volunteering, The Pakistan Observer reported yesterday. The Waste Heat Recovery Power Plants, Health and Safety i...

Bestway boosted by Pakcem contribution

14 January 2016, Published under Cement News

Bestway Group of the UK, parent company of Pakistan's largest cement producer, announced that its consolidated turnover for the year ending 30 June 2015 increased by 20 per cent to GBP3.06bn from GBP2.55bn in 2014. Profit before tax for the year ended 30 June 2015 was up 39.9 per cent to GBP373.8m from GBP267.1m in 2014. All group businesses continued to be profitable, the group noted. Commenting on the results, group chief executive, Zameer Choudrey, CBE, said: “The past financial year has...

ITAC announces final anti-dumping duties

23 December 2015, Published under Cement News

South Africa has imposed final anti-dumping duties on Portland cement originating in or imported from Pakistan, ranging between 14.29 and 77.15 per cent, effective 18 December 2015. The duties will remain in place for a period of five years, unless a review process takes place. The decision follows an investigation initiated by the International Trade Administration Commission of South Africa (ITAC) on 22 August 2014 after local producers AfriSam, Lafarge Industries South Africa, NPC Cimp...

Pakistan: Bestway Cement and Pakcem results update

16 September 2015, Published under Cement News

Bestway Cement and group company Pakcem have posted a positive bottom line. Net turnover increased by 5.4 per cent from PKR28.9bn (US$277m) to PKR30.5bn for Bestway and Pakcem saw a 9.4 per cent increase from PKR5.11bn from the corresponding period to PKR5.58bn to June 2015. “We are happy to share our annual results for 2014-15 for Bestway Cement and six-month period for Pakcem, with growth in sales of 4.18 per cent for Bestway and 11.5 per cent for Pakcem,’ said Zameer Choudrey, chief exec...

Bestway Cement signs MoU with NUST Institute of Civil Engineering, Pakistan

07 August 2015, Published under Cement News

Bestway Cement signed an MoU with NUST Institute of Civil Engineering on 27 July to promote the research and development of cutting-edge, innovative construction materials and building solutions in Pakistan. Present at the MoU signing were Irfan Sheikh, director of finance & CFO of Bestway Cement & Pakcem Ltd and Asif Shah, director of Administration and Marketing. Speaking on the occasion, Mr Sheikh expressed his delight at the collaboration and stressed the need for construction mater...

Pakistan: Bestway Cement inaugurates two WHR power plants

27 July 2015, Published under Cement News

Bestway Cement Ltd has announced the inauguration of 6MW and 7.5MW waste heat recovery (WHR) power plants at Hattar and Farooqia, district Haripur, respectively, in Pakistan's Khyber Pakhtunkhwa province at an estimated cost of PKR1.7bn (US$166.9m). Speaking at the opening ceremony, group chairman, Anwar Pervez, hailed the accomplishment as yet another milestone in the long series of achievements by Bestway since its entry in Pakistan. “It follows the company's successful acquisition of Laf...

Bestway acquires Lafarge Pakistan unit

24 April 2015, Published under Cement News

Bestway Cem­­­ent Ltd, a subsidiary of Bestway Group, has taken management control of Lafarge Cement's plant located near Kallar Kahar, Pakistan. To mark the acquisition, a ceremony was held at the plant on Wednesday, which was attended by Sir Anwar Pervez, the owner of Bestway Group and Amr Ali Reda, the CEO of Lafarge Pakistan, among others. In July 2014 Bestway successfully bid for a 75.86 per cent of Lafarge Pakistan’s shares for an enterprise value of US$329m. Bestway Cement...

Bestway Cement first-half profit up 5% YoY

05 March 2015, Published under Cement News

Bestway Cement of Pakistan has posted a five per cent rise in half-year net profit to PKR3.94bn compared to PKR3.75bn (US$36.8m) in the comparative period of the previous fiscal . The second quarter (October-December 2014) proved better for the company as it earned PRK2.34bn, up 12.5 per cent YoY. Bestway Cement has three plants in the north of the country (one in Chakwal and two in Hattar) and a current production capacity of 5.9Mta. In July 2014, however, Bestway secured the purchase of...

Lafarge sells Pakistan cement operations

24 July 2014, Published under Cement News

Lafarge announced the sale of its cement operations in Pakistan for an enterprise value of US$329m to local producer Bestway Cement. Lafarge Pakistan Cement Ltd, in which Lafarge owns a 75.86 per cent stake, operates an integrated cement plant located close to Islamabad in the north of the country. The divestment contributes to Lafarge’s net debt reduction goals, the company said in a statement. Completion of the deal is subject to regulatory approval.