Cement News tagged under: Fauji Cement

RSS feed

Fauji Cement appoints CEO/MD and makes resource sharing agreement with Askari Cement

29 May 2020, Published under Cement News

Fauji Cement Co Ltd (FCCL) informed Pakistan Stock Exchange (PSX) on 28 May 2020 that due to expiry of employment contract of Lt Gen Muhammad Ahsan Mahmood, HI (M) (Retd), CEO/MD of FCCL on 9 June 2020, Qamar Haris Manzoor has been appointed as his replacement by the Board of Directors of Fauji Cement, says a notification signed by company secretary. He will assume the charge of this appointment with effect from 10 June 2020. Earlier, the company stated that as a result of the approval of t...

Top management changes at Fauji Cement in Pakistan

17 April 2020, Published under Cement News

Fauji Cement Company Ltd (FCCL) has made top important changes in management, earlier this week, according to formal bourse filling to the Pakistan Stock Exchange (PSX).   Waqar Ahmed Malik has been appointed as director and chairman of FCCL with effect from 9 April 2020, in place of Lt Gen Syed Tariq Nadeem Gilani, (Retd).   It addition, with effect from 9 April 2020, the company board will be joined by Lt Gen Muhammad Ahsan Mahmoud, (Retd) as CEO, MD and executive director. Non-executive ...

Fauji Cement's chairman resigns

24 March 2020, Published under Cement News

Fauji Cement Co Ltd (FCCL) has informed Pakistan Stock Exchange (PSX) that Lt Gen Syed Tariq Nadeem Gilani, (Retd) has resigned from his position as director and chairman of FCCL Board with effect from 20 March 2020. The name of new incumbent will be intimated shortly, says a company bourse filling.

Fauji Cement commissions additional solar power plant

18 March 2020, Published under Cement News

Fauji Cement Company Ltd (FCCL) has informed Pakistan Stock Exchange (PSX) on 17 March that in addition to the already commissioned 12.5MW captive solar power plant, the company has brought online an additional 2.5MW captive solar power plant. This will increase the captive generation capacity of FCCL to 15MW from renewable energy, says Brig Riaz Ahmed Gondal, Company Secretary in a bourse filing. According to a research house report, the increase in power production from renewable energy s...

Fauji Cement reports shrinkage in profit for 1HY19

21 February 2020, Published under Cement News

Cement players in Pakistan continue to report losses due to increase in cost of sales and finance charges during first half of the current financial year 2019-20. Fauji Cement continued this trend reporting financial losses today. Fauji Cement Co Ltd (FCCL) announced its financial results for the half year ended 31 December 2019 with a net profit of PKR482.18m (US$3.13m), which decreased by 73.6 per cent YoY, as compared to PKR1.82bn in the same period last year. The fall in profit was attr...

Pooling of resources between Fauji Cement and Askari Cement

13 January 2020, Published under Cement News

Fauji Cement Company Ltd has informed Pakistan Stock Exchange (PSX) that its 11th Extraordinary General Meeting (EGM) was held on 10 January 2020 and two important resolutions were adopted by the shareholders for sharing resources amongst two cement units.   The first resolution for approval and authorisation was the resource sharing arrangement to be entered into with Askari Cement Ltd (ACL).   The second resolution approved an equity investment of up to PKR200m (US$1.29m) in the associate...

Director of Fauji Cement resigns

03 January 2020, Published under Cement News

Pakistan’s Fauji Cement Co Ltd has announced that Tahir Ashraf Khan has resigned from his position as director of the company, with effect from 1 January 2020. The company has not yet named a successor for this position, but appointed a new non-executive director in October 2019 .

Fauji Cement to diversify

17 December 2019, Published under Cement News

Fauji Cement Company Ltd (FCCL) has informed Pakistan Stock Exchange that the 135th Special Board Meeting of the company held at the Fauji Foundation's head office in Rawalpindi on 13 December 2019 decided to pool resources and diversify investment.   The Board of Directors have discussed and resolved that in the interest of the company an Extra Ordinary General Meeting be convened soon to consider and approve the resource sharing arrangement to be entered into with Askari Cement Ltd (an Ass...

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...

Fauji Cement profits surge 15%

22 April 2019, Published under Cement News

Fauji Cement Company Ltd (FCCL), Pakistan, posted earnings of PKR2.4bn (USD16.99m), up by 15 per cent YoY for the nine months ended March 31 in FY2019. Net sales declined by 1.07 per cent to PKR15.64bn, from PKR15.81bn, primarily owing to drop in local dispatches. Over the period, distribution costs fell by 4 per cent to PKR183m, but administration expenses increased by 8 per cent to PKR 295m.