Cement News tagged under: Flying Cement Co

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Flying Cement Co slates expansion to complete in 3QFY22

18 June 2021, Published under Cement News

Flying Cement Co Ltd (FCC) announced that its plant expansion in Mangowal, Kushab district of Pakistan's Punjab province is due to come online in the 3QFY22. The cement plant has an existing clinker production capacity of 4000tpd (Line I) and the company's Line II project will add a further 7700tpd to take total clinker production capacity to 11,700tpd. Out of the PKR10.2bn (US$64.8m) total projected cost for the expansion, FCC has already incurred PKR7bn. Taking into account the plant's ...

Flying Cement completes Punjab WHR plant

15 February 2021, Published under Cement News

The Flying Cement Co Ltd updated the Pakistan Stock Exchange (PSX) that it has achieved another key milestone. Company Secretary, Shahid Ahmad Awan, stated that the company has successfully completed the installation and commissioning of a 7.5MW waste heat recovery power plant (WHRPP) at its site in Mangowal, Khushab district in Punjab, Pakistan. He added, “The employment of this technology will augment our ability to process waste heat absorbed in boilers to produce steam at a suitable...

Flying Cement appoints new director

25 September 2020, Published under Cement News

Pakistan’s Flying Cement Co has announced the resignation of Waqar Zahid, a director of the company, effective from 10 September 2020. Following Mr Zahid’s departure, the company has appointed Muhammad Mubeen Khan as a new director.

Flying Cement reports 96% fall in sales

02 June 2020, Published under Cement News

Pakistan’s Flying Cement Co saw a 95.9 per cent fall in sales to PKR35.62m (US$217,705) in the January-March period of 2020, compared to PKR858.47m in the year-ago period. The company also reported a net loss of PKR110.7m against a net profit of PKR64m in the corresponding period of the previous fiscal. In the first nine months of FY19-20, sales declined 63.6 per cent YoY to PKR964.6m from PKR2.65bn. The company’s net loss also widened to PKR14.87m from PKR48.68m in the FY18-19.

Flying Cement and Dandot Cement post losses during 1HY19

02 March 2020, Published under Cement News

Pakistani cement companies have been declaring losses or fall in profit during the last six months of ongoing fiscal year of 2019-20 on account of falling revenue, high cost of sales and financing charges. Flying Cement Co reported a loss after taxation of PKR293.4m (US$1.9m) during the half-year ended 31 December 2019 compared to profit of PKR77.7m earned in corresponding period last year. The key factor in the loss is the high cost of sales and reduced revenue during this period. Compan...

Flying Cement 1QFY19 profits rise by 43%

31 October 2018, Published under Cement News

Pakistan's Flying Cement Co Ltd (FCCL) announced its financial results for the 1QFY19 on 30 October.  It posted an increase in profit to PKR3.02m (US$22,682), up by 42.62 per cent YoY, as compared to PKR2.12m reported in the same period last year. The increase in profit was possible due to a surge in quarterly sales, which rose by 56.5 per cent YoY to PKR850m from PKR543m reported during the same period last year. FCCL incurred lower administrative expenses of PKR10.77m and higher distri...

Flying Cement Co awards Loesche VRM contract for Mangowal

27 September 2018, Published under Cement News

Flying Cement Co of Pakistan has placed an order for the delivery of a further vertical roller mill (VRM) with Germany-based mill specialist Loesche. The VRM will be installed as part of a 7000tpd cement production line under construction in Mangowal, Pakistan. It will grind 600tph of raw materials. The scope of supply also includes a Hurriclon system from ATEC, a member of the Loesche Group, for separating finished material from the gas flow exiting the mill. Compared to conventional ...

Flying Cement orders Aumund bulk handling equipment

13 June 2018, Published under Cement News

Flying Cement (Flying Group of Industries) is planning to increase its production by building an 8000tpd kiln line. Aumund Fördertechnik GmbH will supply two of the main bucket elevators for this project, those for the raw meal silo and the heat exchanger, as well as two pan conveyors for clinker. The complete supply package from Aumund Fördertechnik to Flying Cement also includes 13 Aumund silo discharge gates. Of the two Aumund belt bucket elevators, the one to feed raw meal to the silo i...

Pakistan cement firms see profits fall

02 May 2018, Published under Cement News

Pakistani cement companies continue to report decreases in profits, largely due rises in the cost of sale and other factors in the 9MFY17-18.   DG Khan Cement Co Ltd (DGKC) earned a net profit of PKR4.96bn (US$40.4m) in 9MFY18 compared to PKR6.45bn (US$55.6m) in the corresponding period of the previous financial year, representing a 23 per cent YoY drop. Net sales rose to PKR23.37bn from PKR22.63bn during this period. DGKC incurred a distribution cost of PKR691m against PKR231m in the year...

Flying Cement Co reports 11% rise in post-tax profit

10 October 2017, Published under Cement News

Pakistan’s Flying Cement Co Ltd reported a 0.24 per cent fall in its full-year sales to PKR2.47bn (US$23.4m) in 2017 from PKR2.476bn in 2016. However, the company’s operating profit (before finance costs) rose from PKR119.8bn to PKR142.6bn over the same period after PKR6.1m in distribution costs, PKR39.5m in administrative expenses and PRK15.2m in other expenses were deducted. Finance costs saw a hike of PKR8.1m from PKR2.9m. The company received PKR64.4m in “other income” but saw a P...