Cement News tagged under: Cherat Cement

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Cherat Cement’s profits shrink by 17% per cent

13 August 2019, Published under Cement News

Cherat Cement Company Ltd (CCCL) has announced its financial results for the year ended 30 June 2019 by declaring of net profit of PKR1.76bn (US$10.98m), which fell by 17.4 per cent YoY, as compared to PKR2.13bn in the same period last year. In a bourse filling, the company says that its net sales during the reporting year increased by 10 per cent to PKR15.86bn from PKR14.39bn during the same period last year. It incurred a higher distribution cost of PKR396m, against PKR337m in the same p...

Cherat Cement records PKR1.02bn net profit in 1HFY18-19

14 February 2019, Published under Cement News

Cherat Cement Company Ltd (CCCL) has announced its financial results for the half year ended 31 December 2018. CCCL declared a net profit of PKR1.02bn (US$7.29m), down by 23.9 per cent YoY, as compared to PKR 1.349bn earned in the same period last year.   CCCL's Executive Director and Company Secretary, Abid Vazir, said the company's net sales during the 1HFY18-19 fell to PKR7.032bn from PKR 7.585bn during the first six months of FY17-18. It incurred a higher distribution cost of PK...

Cherat Cement Company completes third line

28 January 2019, Published under Cement News

Cherat Cement Company Ltd (CCCL) informed Pakistan Stock exchange (PSX) earlier this week that it has successfully installed and commissioned the third  production line, which has a cement  capacity of 6700tpd of clinker, along with a waste heat recovery plant at its existing location in Nowshera, Khyber Pakhtunkhwa Province.   During the period, the company also installed Wärtsilä dual-fuel engines, in anticipation of the availability of gas. Currently a gas pipeline is being laid a...

Challenges to grow in 2019 for Pakistan cement sector

02 January 2019, Published under Cement News

Pakistan's cement industry is likely to face a number of challenges in 2019 on the domestic front owing to a flatness in demand, high markup rates, price competition and currency depreciation, etc. According to the 'Investment Strategy 2019' report released by Spectrum Securities Ltd, after tremendous sales growth (13.8 per cent YoY) in cement dispatches during FY18, demand is expected to remain flattish in FY19 mainly due to higher base of FY18, reduction in allocation of the Public Sect...

CTP Team Srl wins two ESP to baghouse projects in Pakistan

30 October 2018, Published under Cement News

Pakistan-based cement producers Popular Cement and Cherat Cement have chosen CTP Team Srl for the company's expertise in de-dusting and air filtration system to carry out emissions control projects at their cement plants. Popular Cement has chosen the Italian dedusting specialist to convert its ESP to a baghouse at its cement mill using European state-of-the-art technology, before resuming operations at the plant following a nine-year stoppage. Meanwhile, Cherat Cement needed to co...

Cherat Cement posts FY1Q profit fall

17 October 2018, Published under Cement News

Cherat Cement Company Ltd (CCCL) has announced its financial results for the period ending 30 September 2018. The company reported a net profit of PKR431m (US$3.23m) in 1QFY 18-19, down by 28.87 per cent YoY.   According to the company's notification to the Pakistan Stock Exchange (PSX), CCCL’s net revenue shrank to PKR3.34bn from PKR3.89bn during this period. Company sales during the quarter dropped by 14 per cent YoY, likely due to a slowdown in dispatches following the caretaker governmen...

Pakistan cement companies recognised for corporate and sustainability reports

08 August 2018, Published under Cement News

The Institute of Chartered Accountants of Pakistan (ICAP) and Institute of Cost and Management Accountant of Pakistan (ICMAP) have awarded Best Corporate and Sustainability Report 2017 (BCSR) Awards to more than 40 companies, including several cement firms for their reports. The award-winning cement companies included Cherat Cement, Lucky Cement Ltd, Maple Leaf Cement Ltd and Thatta Cement Ltd.   Tariq Hassan, chairman of Audit Oversight Board, Richard Morin, CEO of the Pakistan Stock Excha...

Capacity in Pakistan inches ahead

24 May 2018, Published under Cement News

The capacities of Pakistan's cement industry in the north and south of the country are regularly being expanded. As a result, total cement capacity in Pakistan is on track to increase from 47Mta in FY17 to 56.6Mta by the end of FY19. Bestway Cement (BWCL) has reportedly started trial production at its 1.8Mta brownfield cement plant in the north. According to market sources, the commercial operations are expected to begin by 15 June 2018, contrary to earlier expectation of commencem...

Cherat Cement reports 15% net profit increase

26 April 2018, Published under Cement News

Pakistan’s Cherat Cement Co Ltd has announced its 9MFY18 results, reporting a 14.6 per cent YoY increase in net profit to PKR1.79bn (US$15.49m). Net sales increased 66 per cent to PKR11.14bn, compared with PKR6.71 of the year-ago period. However, the company’s distribution cost increased by 18.6 per cent to PKR248m, according to its statement to the Pakistan Stock Exchange. The company has a cement production capacity of 2.42Mta from its facility in Nowshera.

Pakistan's local dispatches expected to grow at 3% in September

29 September 2017, Published under Cement News

Experts foresee that total cement sales in September 2017 to observe a decline of two per cent YoY to clock in at 3Mt. Out of which, exports are likely to depict a downward trajectory, dropping by 26 per cent YoY to 387,000t while local dispatches are expected to grow three per cent YoY to 2.6Mt. According to estimates of local research house, region wise distribution suggests that domestic sales during September in the north and south registered growth of five per cent YoY to 2.2Mt and ...