Cement News tagged under: FECTO Cement

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Fecto Cement appoints chairman and chief executive

08 November 2021, Published under Cement News

Pakistan’s Fecto Cement has appointed Aamir Ghani and Mohammed Yasin Fecto as chairman and chief executive, respectively, with effect from 1 November 2021. The appointment has been made for a term of three years, according to Pakistan Company News.

Fecto Cement posts loss in 1HY19

02 March 2020, Published under Cement News

Fecto Cement Ltd has informed Pakistan Stock Exchange that it has posted a loss of PKR299m (US$1.48m) for the half year ended 31 December 2019 as compared to profit PKR105m, earned in the same period last year. The losses are attributed to a slide in net turnover, which decreased by 22.91 per cent to PKR1.91bn from PKR2.28bn in the same period last year. The company incurred a lesser administrative expenses and distribution costs of PKR121m and PKR62m against PKR143m and PKR102m, respectiv...

Fecto forms new subsidiary, reports fall in domestic sales

27 December 2019, Published under Cement News

Fecto Cement Ltd has approved the formation of a wholly-owned subsidiary to implement the investment in a new cement plant. The Pakistani cement producer had earlier announced plants to build a 6000tpd greenfield plant and 9MW waste heat recovery power plant in Palai, Khyber Pakhtunkhwa. Completion of the project would be expected in 18 months’ time. Financial performance 1QFY19-20 In the first quarter of the 2019-20 financial year, Fecto Cement increased its clinker production by 10.4...

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...

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 ...

Pakistan: Fecto Cement joins race for Dewan assets

14 December 2016, Published under Cement News

Fecto Cement has announced that it intends to enter a bid for Dewan Cement’s North plant, a 1.134Mta facility located in Hattar. Earlier this month, Lucky Cement indicated that it would put in a bid for the Hattar plant, while The News reports that a Chinese firm is also in the process of carrying out a due diligence investigation. In a trading update released to the Pakistan Stock Exchange, Fecto Cement said that sales revenues for the first quarter of FY2017 were up by 16.3 per cent to ...

Pakistan: Fecto Cement profit jumps 31.8% in FY15-16

30 September 2016, Published under Cement News

Fecto Cement Ltd its financial results for the full-year period ended 30 June 2016. It reported profit after tax of PKR813.82m (US$7.78m) compared to PKR17.47m earned in corresponding period last year. This translates a growth of 31.8 per cent on YoY basis. The company declared a cash dividend of 20 per cent. The company has stated that its sales rose to PKR5.03bn from PKR4.77bn in last financial year. Thus, recorded a growth of 5.45 per cent on YoY basis. The company incurred less admi...

Pakistan: Fecto Cement prosecuted over violating national park

03 August 2016, Published under Cement News

Pakistan’s Capital Development Authority (CDA) has announced that it has stripped the Fecto Cement Company of its lease of plant and issued a fine of PKR420m (US$4m), the Express Tribune reports. The move comes after the company was accused of illegally dumping explosives in the Margalla Hills National Park, but also concerns a dispute within the state government itself. In June 2012, Fecto Cement had extended a just-expired limestone mining lease for 18 years. However, while this deci...

Fecto Cement refutes mining lease cancellation claims

25 March 2015, Published under Cement News

Fecto Cement Ltd has informed Karachi Stock Exchange (KSE) that its factory in Sangjani, Pakistan, is operating under normal conditions and dispatches are being carried out as usual. The company has refuted local media reports that production has been suspended due to the environmental degradation of the Margalla Hills Nationl Park. It has also denied receiving a letter from Bashir Ahmed, director Industries and Labour, ICT, Islamabad, informing the company of a cancellation of its mining...

FECTO reports first-half loss, Pakistan

27 February 2015, Published under Cement News

Pakistan-based cement producer FECTO Cement reported a 10.22 per cent drop in profit for the first six months of the current fiscal to PKR284.6m (US$2.8m). In a communication to the Karachi Stock Exchange, FECTO reported a slight rise in net sales to PKR2.39b from PKR2.32bn a year ago. The company incurred administrative expenses of PKR105.7m and distribution costs of PKR99.5m, compared to PKR85.4m and PKR107.2m in the comparative period of FY13-14. FECTO Cement operates a 0.78Mta cement p...