Cement News tagged under: Indian sub-continent
Meghna Cement Mills posts 71% profit fall in FY22-2314 November 2023, Published under Cement NewsMeghna Cement Mills Ltd of Bangladesh posted its financial result for the year ending on 30 June 2023 on the Dhaka Stock Exchange’s website. The company reported that its profit plummeted to BDT15.81m (US$0.142m) from BDT558m a year ago, thus registering a 71 per cent fall in profit YoY. Meanwhile, local media attributed the decline in revenue earnings to the currency devaluation and higher finance costs, bringing the income of Meghna Cement Mills to its lowest since its 1995 listing ... |
New chairman in Attock Cement14 November 2023, Published under Cement NewsCompany Secretary, Attock Cement Pakistan Ltd , Irfan Amanullah, informed Pakistan Stock Exchange Ltd (PSX) on 13 November that after the recent election of directors of the company held on 23 October 2023, Shuaib A Malik has been appointed chairman by the Board of Directors. |
LafargeHolcim Bangladesh registers a 58% growth in profit during 9M2313 November 2023, Published under Cement NewsLafargeHolcim Bangladesh ( Holcim group ) saw a 58 per cent YoY growth in profit to BDT5.21bn (US$77.2m) for January-September 2023 period against BDT3.308bn earned in the corresponding period of last year, according to company financial results. The profit growth was possible due to a 55 per cent growth in operating profit to BDT6.63bn in 9M23. During the period, the company's sales volume stood at BDT21.64bn from BDT16.98bn, a rise of 27.4 per cent up from the same period of the previou... |
Bangladesh surpassed the cement export target in 4MFY23-2408 November 2023, Published under Cement NewsBangladesh has recorded 101.8 per cent YoY growth in cement export revenue to US$5.59m in the first four months (July-October 2023) of FY23-24 from US$2.77m earned in the same four months of the previous year, according to the Bangladesh Export Promotion Bureau (EPB). This figure includes minor amounts of salt, stone and related products. A 20.2 per cent YoY also surpassed a target of US$4.65m for months. Bangladesh had set a higher target export revenue of US$15m for FY23-24 against US$... |
Local Pakistan cement dispatches contract while exports sustain levels07 November 2023, Published under Cement NewsIn October 2023 Pakistan's cement industry faced a decline in local dispatches due to the constraints in the domestic market, while exports remained steady owing to the potential for overseas revenue. According to data from the All Pakistan Cement Manufacturers Association (APCMA), total dispatches fell by 5.8 per cent to 4.007Mt in October 2023, compared to 4.253Mt dispatched during the same period in the previous year. The APCMA report indicates that local cement deliveries declined to 3.2... |
Deccan Cements sees revenue decline07 November 2023, Published under Cement NewsIndia's Deccan Cements Ltd has reported total revenue of INR1709m (US$20.52m) in the quarter ended 30 September 2023, down from INR1952m in the previous quarter and INR1822m in the quarter ended 30 September 2022. Profit in the September 2023 quarter came in at INR47.2m, marking a significant drop from the INR141.4m posted in the previous quarter, and down from INR65.6m in the September 2022 quarter. Total expenses declined from INR1732m in the quarter ended 30 September 2022 to INR1633... |
Premier Cement Mills continues to report losses in FY22-2307 November 2023, Published under Cement NewsBangladesh cement producer Premier Cement Mills (PCM) announced its financial results for the Fy22-23, which ended 30 June 2023, a week before. It reported a loss after taxation of BDT842m (US$7.65m) against a deeper loss of BDT1.32bn incurred during the same period last year. The loss can be attributed to the high cost of raw materials during this period despite increased revenue. PCM’s net sales increased to BDT21.83bn from BDT14.23bn. Similarly, the cost of sales rose to BDT19.81bn fro... |
FOA call for compliance of the Axle Load Regime06 November 2023, Published under Cement NewsA public notice from the Fleet Operators Association (FOA) of Pakistan urges strict implementation of the axle load regime (ALR) and the National Trucking Policy to save human life while carrying cargo, including raw materials or finished goods for all industries, including cement. The price of human life is invaluable. According to a report by the World Bank on Road Safety, accidents cost Pakistan US$12.55bn or about 4.5 per cent of GDP. The human and material losses can be reduced sign... |
Attock Cement re-appoints Nawaz as CEO06 November 2023, Published under Cement NewsAttock Cement Pakistan informed Pakistan Stock Exchange Ltd (PSX) on 3 November that after the recent election of directors held on 23 October 2023, Babar Bashir Nawaz was re-appointed as chief executive officer by the Board of Directors of the company with immediate effect. |
1QFY23-24 is a good omen for Pakistan’s cement industry03 November 2023, Published under Cement NewsPakistan’s cement industry saw healthy growth in profit after tax (PAT) between July and September 2023 (1QFY23-24) on the back of a 32 per cent YoY advancement in sales, according to Spectrum Securities Ltd, which evaluated the results of the top nine cement makers enrolled at the Pakistan Stock Exchange (PSX), representing 93 per cent of the sector’s market capitalisation. The top nine, which represent 93 per cent of the sector's market capitalisation, saw a 33.3 per cent grow... |