Cement News tagged under: Dewan Cement
Dewan Cement reports PKR115m loss in 1QFY23-2427 October 2023, Published under Cement NewsPakistan cement producer Dewan Cement Ltd (DCL) , subsidiary of Mega Conglomerate Ltd , announced its financial results for the 1QFY23-24, which ended 30 September 2023, on the Pakistan Stock Exchange (PSX) website. It reported a loss after taxation of PKR115m (US$0.414m) against a loss of PKR681m during this period. The loss can be attributed to the high cost of sales during this period despite increased revenue. Its net sales increased to PKR5.61bn from PKR3.53bn. Similarly, the ... |
Power Cement and Dewan Cement announce financial results28 April 2023, Published under Cement NewsTwo more cement companies in Pakistan announced their financial results for the third quarter ending 31 March 2023, and 9MFY22-23. Power Cement reported an increase in profit by 18.5 per cent in 9MFY22-23, while Dewan Cement reported a loss after taxation of PKR758m (US$2.67m) against a loss of PKR64m during this period. The financial data indicates higher sales and expensive production costs on inflated financing. Power Cement Ltd has announced profits after tax increased to PKR5... |
PSX listed cement companies release financial results for 1HFY2310 March 2023, Published under Cement NewsCement companies listed in the Pakistan Stock Exchange (PSX) continue to report mixed financial results for the 1HFY22-23 (July-December 2022) of the current financial year FY22-23 (July 2022-June 2023). Although companies have reported an increase in sales, their cost of sales and bank borrowing has increased, resulting in a tightening of profit margins. According to JS Global Capital Ltd, demand improvement has given the industry room to pass some of the impact of cost growth due to the... |
Dewan Cement appoints new CFO07 October 2022, Published under Cement NewsPakistan's Dewan Cement has appointed Hazrat Ali as its chief financial officer. He succeeds Imran Ahmed Javed. The cement producer currently operates two plants in Pakistan - a 1.7Mta integrated works in District Malir , Sindh, and a 1.13Mt integrated unit in District Haripur , Khyber Pakhtumkhwa. |
Dewan Cement appoints new CEO and director25 July 2022, Published under Cement NewsPakistani cement producer Dewan Cement Ltd informed Pakistan Stock Exchange that Ishtiaq Ahmed and Waseem-ul-Haque Ansari have been appointed as CEO and director of the company, respectively. The appointments are effective of 15 July 2022 and replace Malik Bilal Omar. |
Dewan Cement returns to profit in 2QFY21-2201 March 2022, Published under Cement NewsPakistan-based Dewan Cement Ltd posted a turnover of PKR4149.6m (US$23.4m) in the quarter ended 31 December 2021 (2QFY21-22), up from PKR931.6m in the 2QFY20-21. In the 2QFY21-22, the company achieved an operating profit of PKR68.8m, an improvement when compared with the PKR334.5m loss in the 2QFY20-21. Net profit reached PKR130.7m, up from a loss of PKR266.6m in the equivalent period of the previous year. |
Dewan Cement sees 7% rise in turnover27 September 2021, Published under Cement NewsPakistan's Dewan Cement has announced a 7.3 per cent YoY rise in net turnover to PKR6.3bn (US$37m) for the year ended 30 June 2021, compared with PKR5.83bn in the year-ago period. The company also recorded a PKR666.4m loss for the FY20-21, which had contracted against the PKR1.32bn loss seen in the previous fiscal year. |
Dewan Cement appoints new director07 April 2021, Published under Cement NewsPakistan’s Dewan Cement has appointed Nida Jamil as a director of the company, with effect from 5 April 2021. Ms Jamil has been appointed in place of Waseem-ul-Haque Ansari, according to a company statement. |
Mounting challenges for Pakistan cement producers08 July 2019, Published under Cement NewsPakistan's cement industry faces strong headwinds with new tax measures, an increase in gas and electric prices, unrest among cement distributors and retailers, dwindling local demands and negligible export to neighbouring countries, says a local research house. BMA Capital Management reports that challenging demand/supply outlook amid rising cost of operations triggered by supply chain constraints, a rise in federal excise duty (FED), etc has led to added pressure on cement prices. The e... |
Dewan Cement strikes deal with Mega Conglomerate08 February 2018, Published under Cement NewsMega Conglomerate Pvt Ltd has agreed to acquire a 87.5 per cent stake in Pakistan’s Dewan Cement, according to a bourse filing by BMA Capital Management Ltd. The acquisition will see 75 per cent shares pass hands through agreement and a further 12.5 per cent through a public offering. The deal follows a week of roller coaster movements, according to Pakistan Today. The amount of the acquisition was not disclosed. |