Cement News tagged under: Bestway Cement
Pakistan: Bestway Cement pretax profits up 45%09 May 2016, Published under Cement NewsIn an earnings statement released today, Bestway Cement announced that its pretax profits for 9MFY2016 were PKR12.64bn (US$121m), up 45 per cent on the same period last year. After tax, the firm’s profits were up 49 per cent, to PKR9.24bn (US$88m). According to a report in the Nation, Bestway’s turnover rose by over 49 per cent to PKR32.91bn (US$314m). The scale of the increase was attributed to Bestway’s acquisition of Pakcem and increasing domestic demand. This was offset to a degree... |
Pakistan: Bestway Cement profit up 48% for 9MFY201606 May 2016, Published under Cement NewsBestway Cement has announced after tax profits of PKR7.45bn (US$71m) in the nine month period to 31 March 2016, a 34 per cent increase YoY. Total sales rose to PKR24.42bn (US$233m) – an increase of 11 per cent YoY. Profits rose on the back of lower administrative and distribution costs, which fell by 2.4 per cent and 17.3 per cent respectively to PKR289m (US$2.8m) and PKR439m (US$4.2m). Finance costs increased sharply to PKR1.3bn (US$12.4m). Bestway’s sister concern, Pakcem Ltd, also e... |
Pakistan: amalgamation of Bestway Cement and Pakcem complete11 April 2016, Published under Cement NewsThe Board of Directors of Bestway Cement Ltd (BCL) and Pakcem Ltd (formerly Lafarge Pakistan Cement Ltd) in their meetings held on 7 April 2016 have approved the scheme of amalgamation of Pakcem Ltd with and into Bestway Cement Ltd and its placement before the shareholders in the extraordinary general meeting of the company as special business for their approval as per requirement of Companies Ordinance, 1984. In July 2014, BCL entered into a binding agreement to acquire Pakcem and on 22 ... |
Bestway consolidated turnover up 45.5%22 February 2016, Published under Cement NewsBestway 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 endeavours21 January 2016, Published under Cement NewsBestway 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 contribution14 January 2016, Published under Cement NewsBestway 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 duties23 December 2015, Published under Cement NewsSouth 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 update16 September 2015, Published under Cement NewsBestway 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, Pakistan07 August 2015, Published under Cement NewsBestway 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 plants27 July 2015, Published under Cement NewsBestway 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... |