Cement News tagged under: Cherat Cement

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Cherat Cement to receive gas for its captive power plant

04 March 2020, Published under Cement News

Cherat Cement Co Ltd (CHCC) has started receiving gas supply from Sui Northern Gas Pipelines Ltd, for its for its plant located at Nowshera in KPK province, Pakistan. This will help in reducing the production costs of the company, said the company's Executive Director Abid Wazir.   According to the company's half-yearly report ending December 2019, to reduce its production costs, CHCC is also installing 12.3MW solar panels at the factory. Furthermore, it has signed a Wheeling Regime Energy P...

Cherat Cement profits hit by high cost of sales in 1HFY20

12 February 2020, Published under Cement News

Cherat Cement Co Ltd (CHCC) of Pakistan has announced its financial result for 1HFY20 through Pakistan Stock Exchange (PSX) on 12 February 2020. It posted a loss after tax (LAT) of PKR560.1m (US$3.63m) during the first six months of FY20, against a profit after tax of PKR1.02bn earned during the same period last year. The high cost of sales and financing component impacted the company's bottom line. Although the net sales of company increased to PKR9.5bn from PKR 7.03bn, cost of sales rose ...

Cement prices are fluctuating in Pakistan

02 January 2020, Published under Cement News

According to a local research house, cement prices in north of Pakistan have declined from the recent peak of PKR550/bag (US$3.55/bag) (October 2019) and now they have fallen below PKR490/bag in some areas of north Pakistan. An analyst of Intermarket Securities Ltd attributes this fall to a drop in demand during the winter season as well as reportedly aggravated price competition by Cherat Cement (CHCC), which is trying to sell in other markets than its allocated areas. According to the r...

Varied results for PSX listed cement producers in 1QFY19-20

13 November 2019, Published under Cement News

The financial results of eight cement companies of Pakistan for the July-September 2019-20 period reveals that their profits shrank owing to weak sales, high financial charges and other unavoidable factors, with a few of them also sustaining losses.   Industry overview In the 1QFY19-20 Pakistan's cement industry posted a marginal growth of 2.6 per cent, amounting to 11.13Mt compared with 10.85Mt last year. Local dispatches remained more or less the same, rising to 9.12Mt from 9.06Mt in th...

Profitability of top six Pakistan producers remains under pressure in 1QFY20

21 October 2019, Published under Cement News

The top six cement producers in Pakistan are likely to report a fall in profits and losses in 1QFY20 on the back of significantly build-up in cost pressures, weak domestic demand, infighting among northern-based producers, local taxation issue and axle load factors, says a report of a local research houses. Analyst expects that the IMS Cement Universe (comprising Lucky Cement, Maple Cement, Kohat Cement, DG Khan Cement, Fauji Cement and Cherat Cement) to post combined net loss after tax o...

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...