Cement News tagged under: Flying Cement
Flying Cement Ltd's new Line II to announce start of production03 April 2024, Published under Cement NewsFlying Cement Ltd has yet to officially announced the start of production of its new 9000tpd (clinker) Line II, which had a scheduled commissioning date of March 2024. JS Research said commissioning Flying Cement’s 3Mt plant amidst low industry utilisation is challenging. The industry’s average capacity utilisation remained below 60 per cent in the recent quarter, and analysts estimated and pointed out that this could alter the dynamics of the northern market of Pakistan. In the 1HFY... |
Flying Cement Co posts a profit rise of 23% during 1HFY23-2413 March 2024, Published under Cement NewsFlying Cement Co Ltd has released detailed interim financial statements for the 1HFY23-24, which ended 31 December 2023. The company earned a net profit after tax of PKR170.95m (US$0.612m) when compared with PKR138.85m in the 1HFY22-23, up by 23.1 per cent YoY due to increased sales (PKR2.36bn) during this period. Yet, it incurred a higher borrowing cost of PKR112m and taxation of PKR74.38m in the accounting period. Outlook Ongoing challenges remain higher energy costs, transportati... |
A score of cement companies mixed financial results in 9MFY22-2315 May 2023, Published under Cement NewsSeveral of Pakistan’s cement firms have presented their financial result for the 3QFY22-23 and 9MFY22-23 in April/May 2023. During the accounting period of nine months, they reported mixed results due to a rise in the cost of sales, distribution and finance charges, etc. High inflation and political unrest also dented sales and profits. In the 9MFY22-23 Flying Cement Co Ltd reported a decrease in profit after tax (PAT) to PKR226m (US$0.79m) from PKR766m earned in the corresponding pe... |
Flying Cement to install 21MW power plant for Line 205 October 2022, Published under Cement NewsCompany Secretary of Flying Cement Co Ltd, Shahid Ahmad Awan has informed Pakistan Stock Exchange (PSX) that the Board of Directors of the company, in their meeting on 3 October discussed the installation of 21MW captive power plants to meet the power requirement of Line 2 at Lilla, in Punjab province of Pakistan. The company has already obtained a no-objection certificate (NOC) for its installation from the Government of Punjab Environmental Protection Agency. According to the company... |
Flying Cement Co awarded long-term mining lease in Punjab25 March 2022, Published under Cement NewsFlying Cement Co Ltd has informed Pakistan Stock Exchange (PSX) recently that the Directorate General of Mines & Minerals (Punjab) has granted the company a long-term mining lease for limestone over an additional area of 714ha (1765 acres) of land situated near to factory site, Dhok Meharwal in District Khushab, Punjab, Pakistan. This will add remarkable value to the company’s vision in the implementation plan of achieving constant future growth. Accordingly, the company would be... |
Pakistani cement producers earn a profit in 1HFY2211 March 2022, Published under Cement NewsThe major players in Pakistan’s cement industry have reported a profit during 1HFY22 in Pakistan. The Spectrum Research has attributed to an increase in the topline, a decrease in finance cost and an increase in other costs during this period, particularly in the 2QFY22. However, most of the companies did not announce any dividends. Industry dispatches in 1HFY22 According to Lucky Cement , the cement industry-wide local sales volume registered a growth of 1.9 per cent to reach 24.... |
Two Pakistan cement plants complete power projects04 January 2022, Published under Cement NewsAttock Cement Pakistan Ltd (ACPL) and Flying Cement Co Ltd (FCCL) have both opened new power plants in Pakistan. ACPL informed the Pakistan Stock Exchange that its 20MW solar power plant project has been completed at Hub Chowki, Lasbella in Baluchistan. According to ACPL Company Secretary, Irfan Amanullah, the solar power project was implemented at an estimated cost of PKR1.8bn (US$10.19m) in collaboration with lead consultant Attock Energy Pvt Ltd and leading Chinese suppliers. Meanwhil... |
Varied results for PSX listed cement producers in 1QFY19-2013 November 2019, Published under Cement NewsThe 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... |
Flying Cement profits recede in FY1908 October 2019, Published under Cement NewsFlying Cement Company Ltd (FCCL) of Pakistan has announced its financial results for FY19. It declared a net profit of PKR142.36m (US$0.9m) against PKR181.5m earned in the same period last year. FCCL showed a profit dropped by 21.6 per cent. The fall in profit is reportedly due to increase in the cost of sale to PKR3bn from PKR2.6bn during this period, despite increase in sale. The company sales stood at PKR3.2bn compared to PKR2.9bn in the same accounting period last year. The distribut... |
Pakistan: Flying Cement to double capacity14 March 2017, Published under Cement NewsFlying Cement Company Ltd (FCCL) has informed the Pakistan Stock Exchange (PSX) that it has signed an agreement with a Chinese company for the procurement of plant and machinery to be installed at the cement producer's existing plant site in Mangowal, Khushab district, Punjab province. The new equipment will upgrade the works' current cement capacity of 2000tpd to 4000tpd. The financial results of the FCCL for the half year ended 31 December 2016 shows that the sales fell from PKR1223m (... |