Cement News tagged under: Dewan Cement Ltd

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Dewan Cement reports 60% fall in net profit

29 April 2019, Published under Cement News

Pakistan’s Dewan Cement Ltd (DCL) has announced its financial results for the third quarter ended 31 March, reporting a 59.6 per cent YoY decline in net profit to PKR394m (US$2.78m) from PKR975m. The company’s net sales fell 8.5 per cent to PKR9.46bn from PKR10.34bn during the 3QFY18-19. It also incurred a higher distribution cost of PKR175m, against PKR158m of the year-ago period. Administrative expenses rose to PKR472m from PKR412m. DCL has a cement capacity of 1.76Mta in Dhabeji, Si...

Dewan Cement profit contracts by 40.29% in 1HFY19

26 February 2019, Published under Cement News

Dewan Cement Ltd (DCL) has announced its financial results for the half year ended 31 December 2018. It declared net profits of PKR328m (US$2.74m), representing a decrease of 40.29 per cent YoY, as compared to PKR550m earned in the same period last year.   Imran Ahmad Jawed, CFO of DCL, informed the Pakistan Stock Exchange (PSX) that the company's net sales edged up to PKR6.466bn from PKR6.457 during this period. It incurred a higher distribution cost of PKR111m against PKR106m in the same ...

Dewan Cement reports fall in profit 1QFY19

25 October 2018, Published under Cement News

Pakistan's Dewan Cement Ltd (DCL) on 25 October announced that it earned PKR184m (US$1.37m) in 1QFY19, down by 24.8 per cent YoY, as compared to PKR245m reported in the same period last year. According to DCL's notification to Pakistan Stock Exchange (PSX), company sales during the quarter declined by 2.3 per cent YoY to PKR2.91bn from PKR2.98bn of same period last year. The gross profits during the period dropped substantially by 23.41 per cent YoY. The company incurred higher distr...

Dewan Cement's net profit falls to PKR902m

09 October 2018, Published under Cement News

Dewan Cement Limited (DCL) has announced that its net profit declined to PKR902m (US$7.33m) in financial year 2018 from PKR1.30bn earned in the same period last year. It shows profit dropped by 30.9 per cent, despite increase in net sale to PKR13.47bn from PKR12.85bn during this period. The company incurred a distribution cost of PKR206m against PKR261m incurred in the same period last year. The administrative expenses increased to PKR688m from PKR684m in previous fiscal year. The com...

Mega Conglomerate withdraws bid to acquire Dewan Cement

03 July 2018, Published under Cement News

Pakistan’s Mega Conglomerate Private Ltd (MCPL) has reportedly withdraw its bid to buy controlling shares in two plants of Dewan Cement based in Dhabeji, Sindh and Hattar Industrial Estate, Khyber Pakhtunkhwa. The two facilities have a combined capacity of 2.89Mta. Dewan Cement is yet to comments on failure of the deal, but markets predict it may be due to high prices and change in dynamic of cement industry in country. BMA Capital has informed Pakistan Stock Exchange (PSX) that in capa...

New dam project to boost Dewan Cement sales

22 May 2018, Published under Cement News

The PKR474bn (US4bn) Diamer-Bhasha dam is expected to raise cement demand in Pakistan by as much as 20-25Mt over the next four to five years. The dam will have an installed power capacity of 4500MW. The construction of Dam would boost approximately cement demand by approximately 5Mta in Pakistan. Dewan Cement Ltd's nearest cement manufacturing plant is located in Kamilpur Hattar Industrial Estate, district of Khyber Pakhtunkhwa. It is expected to be awarded the largest cement supply contr...

Dewan Cement rejects Mega Conglomerate offer

14 May 2018, Published under Cement News

Mega Conglomerate's plan to acquire 87.5 per cent majority stake in Dewan Cement could be over. The deal is thought to have collapsed after Dewan Mohammad Yousuf Farooqui, chairman of the Yousuf Dewan Companies, rejected the offer of Mega Conglomerate to acquire a majority stake in Dewan Cement, reports Pakistan Today. A letter sent on 21 April by Mega Conglomerate Executive Director, Aly Khan, to Mr Farooqui, reveals that the due diligence exercise assessed Dewan Cement's enterprise value...

Dewan Cement reports 1% profit rise in 1HFY17-18

26 February 2018, Published under Cement News

Dewan Cement Ltd (DCL) has announced its financial results for the half year ended 31 December 2017.  It reported a profit after tax of PKR550m (US$4.96m), c ompared to PKR476m (US$4.29m) in the corresponding period last year – representing a growth of 15.5 per cent YoY. According to a notification of company to Pakistan Stock Exchange (PSX), the company's sales increased to PKR6.45bn from PKR6.19bn during this period. Distribution costs of PKR106m were incurred against PKR96m in 6...

Dewan Cement to sell controlling shares of two plants

01 February 2018, Published under Cement News

Dewan Cement Ltd is reportedly in talks with Karachi-based Mega Conglomerate Ltd to sell its controlling shares in two plants based in Dhabeji, Sindh and Hattar Industrial Estate, Khyber Pakhtunkhwa. The two facilities have a combined capacity of 2.89Mta. BMA Capital has been appointed as the manager of the deal, overseeing the acquisition of 87.5 per cent of total shares from Dewan Cement. While 75 per cent of the controlling shares will be from major shareholders, the remainder will b...

Pakistan: Bestway Cement shelves plans to acquire Dewan Cement

10 April 2017, Published under Cement News

Bestway Cement has announced it has shelved plans to acquire the North plant of Dewan Cement in Pakistan. “As a result of delay and uncertainty resulting from recent legal proceedings initiated in the Sindh High Court, Bestway Cement Limited has decided not to proceed with the acquisition of the north plant of Dewan Cement Ltd located at Kamilpur, near Haripur, Khyber Pakhtunkhwa,” the company said in a notice issued to the Pakistan Stock Exchange. Bestway did not cite the reason for its...