Cement News tagged under: Fauji Cement

RSS feed

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.

Cement continues to shine Pakistan's Stock Exchange

15 February 2019, Published under Cement News

Cement stock performance on the Pakistan Stock Exchange (PSX) continues unabated. According to a research house report, Pakistan equities closed marginally negative with benchmark KSE100 Index settling at 40,544 levels today. The market kicked off positive and traded in green for most part of the day but succumbed to losses in the end due to institutional selling.   Cement remained in the limelight owing to receding coal prices. As such, Fauji Cement Co Ltd shares were up 1.66 per cent, M...

Fauji Cement Company appoints directors

13 December 2018, Published under Cement News

Fauji Cement Company Ltd (FCCL) has informed Pakistan Stock Exchange (PSX) that it has appointed a new Chairman, Chief Executive Officer/Managing Director and Directors during 10th Extra Ordinary General Meeting on 29th November 2018. The new board now consists of the following directors with effect from 13 December 2018. Lt Gen Syed Tariq Nadeem Gilani, HI(M), (Retd) Chairman Lt Gen Muhammad Ahsan Mahmood, HI(M), (Retd)  CEO/MD Dr Nadeem Inayat  Non Executive Director Maj Gen Tahi...

Expansion plans of Fauji Cement are underway

12 November 2018, Published under Cement News

Fauji Cement Company Limited (FCCL) has informed Pakistan Stock Exchange (PSX) that the 10th Extraordinary General Meeting (EOGM) of FCCL will be held in  Islamabad on 29 November 2018 to obtain approval for a greenfield project, elect company directors for a period of three years from 13 December 2018 to 12 December 2021and other business. According to annual report for the year 2018, the company is planning to establish an additional plant and necessary preparation in this regard are u...

Fauji Cement announces 80% earnings growth

23 October 2018, Published under Cement News

Pakistan’s Fauji Cement Co Ltd recorded 79 per cent YoY growth in its gross profit to PKR1.41bn (US$10.61m) for the 1QFY18-19 ended 30 September. Its earnings similarly advanced 80 per cent to PKR801m. Net sales increased 11 per cent to PKR5.34bn, on the back of improved prices during the period, according to a statement to the stock exchange. The improvements in profit have been attributed to a controlled cost structure following the commencement of operation of its second line after hav...