Cement News tagged under: Gharibwal Cement

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Gharibwal Cement vows to continue the BMR project

27 November 2023, Published under Cement News

Gharibwal Cement Ltd in Pakistan has arranged a corporate briefing session on the FY22-23 and 1QFY23-24. To recall, the company posted a profit after tax of PKR1.232bn (US$4.311m) in FY22-23 vis-à-vis PKR1.355bn in FY21-22. BMR Projects – existing line Top officials outlined the company's balancing, modernisation and replacement (BMR) programme at its 2.11Mta plant in Jehlum, Punjab. A 10MW solar plant is under negotiation with various vendors and a letter of credit (LC) facility is in ha...

Gharibwal Cement's profit decreases in FY23

29 September 2023, Published under Cement News

Gharibwal Cement Ltd (GWLC) announced its financial results for 30 June 2023, on the Pakistan Stock Exchange’s 27 September 2023 website.  The company saw a decrease in its profit to PKR1.23bn (US$430.1m) from PKR1.35bn earned in the same period last year. This represents a nine per cent YoY fall in profit YoY. The major factors responsible for this reduction were increased sales, selling and distribution expenses, and higher taxation and finance costs. The company sales increased by...

PSX listed cement companies release financial results for 1HFY23

10 March 2023, Published under Cement News

Cement companies listed in the Pakistan Stock Exchange (PSX) continue to report mixed financial results for the 1HFY22-23 (July-December 2022) of the current financial year FY22-23 (July 2022-June 2023). Although companies have reported an increase in sales, their cost of sales and bank borrowing has increased, resulting in a tightening of profit margins.  According to JS Global Capital Ltd, demand improvement has given the industry room to pass some of the impact of cost growth due to the...

APCMA elects new executive committee

23 November 2022, Published under Cement News

Muhammad Ali Tabba, chief executive of Lucky Cement , has been appointed chairman of the All Pakistan Cement Manufacturers Association (APCMA) for the 12 months ending September 2023. Senior vice chairman of the APCMA over the same period has been named as Kohat Cement ’s Aizaz Mansoor Sheikh, while Attock Cement ’s Babar Bashir Nawaz has been elected vice chairman. Also elected were eight executive committee members, including: Sayeed Tariq Saigol ( Maple Leaf Cement ) Azam Fa...

Gharibwal Cement sees revenue advance 27% YoY

23 October 2020, Published under Cement News

Pakistan’s Gharibwal Cement has reported a 27 per cent YoY rise in unaudited revenue for the quarter ending 30 September 2020, increasing to PKR2.6bn (US$16.19m) from PKR2.06m. The company also returned to a net profit of PKR263.3m from a PKR235.3m loss in the July-September 2019 period.

Gharibwal Cement announces 11% fall in net sales

05 May 2020, Published under Cement News

Pakistan’s Gharibwal Cement has announced a 10.9 per cent YoY fall in net sales to PKR7.37bn (US$46.09m) in the 9MFY19-20 ended 31 March 2020, compared to PKR8.28bn in the year-ago period. The company also reported a net loss of PKR540.2m against a profit of PKR819.8m in the 9MFY18-19. During the January-March 2020 period, net sales declined 20.3 per cent YoY to PKR2.2bn. 

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...