Cement News tagged under: Cherat Cement
Kohat Cement Co's enhances Line 2 capacity and plans solar project01 April 2024, Published under Cement NewsKohat Cement Co (KOHC) has recently completed the BMR of its Khyber Pakhtunkhwa Line 2, enhancing its line capacity to 2.1Mta from 2Mta previously, taking total capacity to 5.2Mta, as well as improving its efficiency by ~10 per cent, matching that of Line 3, according to AKD Research. Furthermore, a second solar unit with 15MW capacity is in the pipeline, expected to be commissioned in the 1QFY24-25. With the commissioning of this project, the company’s solar energy will increase up to 1... |
Cherat Cement saw 12 per cent profit growth in 1HFY23-2420 February 2024, Published under Cement NewsCherat Cement (CHCC) has recently uploaded its financial results to the Pakistan Stock Exchange (PSX) website. The company reported a 2QFY23-24 net profit after tax (NPAT) of PKR1.9bn (US$m12.2m), up 20 per cent YoY and 22 per cent QoQ. This result takes 1HFY23-24 NPAT to PKR3.4bn, up 12 per cent YoY. The positive result was possible due to increased gross margin and other income as well as a cut in financial costs during the three and six months. The company posted net sales of PKR20.... |
Cherat Cement reported profits up by 3% in 1QFY23-2425 October 2023, Published under Cement NewsCherat Cement Co Ltd (CHCC), subsidiary of Gulham Faroque Group , has announced its financial results for the 1QFY23-24 ended 30 September 2023. It reported an increase in profit after tax to PKR1.53bn (US$5.47m) from PKR1.48bn earned in the corresponding period last year. This reflects a growth of 3.4 per cent on a YoY basis, according to CHCC financial results posted on the Pakistan Stock Exchange on 23 October. The substantial increase in profitability can be attributed to lower... |
Gas price increase expected for Pakistan's cement industry24 October 2023, Published under Cement NewsAccording to local reporters, Pakistan's government will likely increase gas prices for commercial and domestic users to meet some conditionality of the IMF programme and overcome losses of gas utility companies, gas price adjustments, and gas sector circular debts. The increase in gas prices would also be effective in the cement industry. The Economic Coordination Committee (ECC) is expected to approve gas price increases across the board (excluding protected consumers). The hikes range fr... |
Cherat Cement's local dispatches fall while exports rise02 October 2023, Published under Cement NewsThe management of Cherat Cement Co Ltd ( Gulham Faruque ) held a corporate briefing session on 28 September 2023 to discuss the financial performance during FY23 and its outlook. To recall, the company posted earnings of PKR4.4bn (US$15.3m) in FY23 compared to PKR4.5bn in the previous year, a decline of one per cent YoY. The annual decline was due to higher financial charges and taxation, as presumed by AKD Research and AHL Research. Dispatches local/export In terms of sales volumes... |
Profit of Cherat Cement shrinks by 1% in FY22-2307 September 2023, Published under Cement NewsCherat Cement Co Ltd ( Ghulam Faruque Group ) has announced its financial results for the year ended 30 June 2023 by declaring a net profit of PKR4.40bn (US$14.3m) as compared to PKR4.45bn in the same period last year. This translates into a profit shrinkage of 1.2 per cent in FY22-23 due to high finance, distribution, administration and taxation. The decline is majorly attributable to increased financial charges and higher taxation by AKD Research. The financing rose 41 per cent to PKR... |
Cement players expect demand in FY24 to remain stable16 June 2023, Published under Cement NewsTopline Securities hosted the Pakistan Cement Conference 2023, where top executives of major cement players Maple Leaf Cement (MLCF), Lucky Cement (LUCK), DG Khan Cement (DGKC), Cherat Cement (CHCC), Kohat Cement (KOHC) and Pioneer Cement (PIOC) participated in the conference through Zoom recently. They ruled out unanimous fears of a price war, stating that it would be unwise to start a price war due to economic conditions and slow demand. However, they believed that major ... |
Three Pakistan producers post profits in 1HFY22-2323 February 2023, Published under Cement NewsThree of Pakistan’s cement factories have posted a profit in operation between July and December of FY22-23 (1HFY22-23). However, double-digit inflation, a hike in interest rates and a sharp devaluation of the Pakistani rupee have dampened cement demand. Moreover, low GDP growth, high cost of construction materials and the cut in Public Sector Development Programmes (PSDP) saw cement dispatches decline by 21 per cent YoY in the 1HFY22-23. Fauji Cement Fauji Cement Co Ltd (FCCL) earned... |
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... |
Cherat Cement's Line 1 BMR project to complete in January17 November 2022, Published under Cement NewsThe balancing, modernisation and replacement (BMR) project of Cherat Cement Co for Line 1 will complete on January 2023. Cherat Cement has stated that works would be completed by January 2023 on the BMR for Cement Line 1 and installing the main crusher at Lakrai village, Nowshera district, Khyber Pakhtunkhwa (KPK) province, Pakistan, according to the latest company report for the period ending on 30 September 2022. Last year, Executive Director and Company Secretary, Abid Vazir, informed ... |