Cement News tagged under: Maple Leaf Cement
Royalty issue on cement raw materials in Punjab landed in court19 August 2024, Published under Cement NewsAccording to Topline Research, Punjab-based cement manufacturers have obtained a stay order from the court against the imposition of six per cent of ex-factory cement/clinker price as royalty on limestone and argillaceous clay in a major development. However, the analyst remarked that this stay is subject to bank guarantees to be furnished by manufacturers. To avoid any unfavourable decision in the future, the Punjab manufacturers are increasing cement prices by up to INR75/bag (US$0.89/bag... |
Pakistan companies start posting financial results on PSX12 August 2024, Published under Cement NewsTop cement companies in Pakistan will begin releasing their financial results for the last quarter (April-June 2024) on the Pakistan Stock Exchange (PSX) website. The Topline Cement Universe, which includes Lucky Cement , Kohat Cement , Fauji Cement , DG Khan , and Maple Leaf Cement, is expected to post profitability of PKR12.5bn (US$44.9m) in the 4QFY23-24 against a profit of PKR11.1bn in the 3QFY23-24, up by 13 per cent QoQ due to higher average retention prices. This will take FY23-... |
Maple Leaf Cement is diversifying into the Pakistan fertiliser business02 August 2024, Published under Cement NewsMaple Leaf Cement Factory Ltd (MLCF) has entered the lucrative Pakistani fertiliser business. According to the company’s notification to the Pakistan Stock Exchange (PSX) on 29 July, MLCF plans to enter the sector through the acquisition of additional shares and control of Agritech Ltd (AGL), a fertiliser plant located north of Mianwali City in Punjab that produces and sells urea and granulated Single Superphosphate. According to IMS Research, it is important to note that MLCF, along with... |
Maple Leaf Cement reclassifies PKR26bn investment plan18 June 2024, Published under Cement NewsMaple Leaf Cement Factory Ltd informed the Pakistan Stock Exchange (PSX) on 12 June that it had reclassified its PKR26bn (US$93.3m) capital expenditure plan. In addition, the Board of Directors of Maple Leaf Cement approved that for years the company has continued its expansion and diversification strategy and has made significant investments that have enhanced shareholder enterprise value. It continue to add that the board noted that because of these reasons, the general reserve of the... |
Maple Leaf Cement Factory's profit falls 13% in 9MFY23-2429 April 2024, Published under Cement NewsMaple Leaf Cement Factory Ltd (MLCF) announced its financial result for the 9MFY23-24 on the Pakistan Stock Exchange website on 25 April, posting a profit after tax (PAT) of PKR5.374bn (US$19.26m) compared to a PAT of PKR6.185bn in the same period of the previous year, down by 13 per cent YoY. Earnings per share (EPS) declined to PKR5.01 in the 9MFY23-24 from PKR5.76 in the year-ago period. The result highlights from AHL Research said that the topline in the 9MFY23-24 arrived at PKR50.... |
Maple Leaf Cement has bought shares in a fertiliser company04 April 2024, Published under Cement NewsMaple Leaf Cement Factory Ltd has acquired and settled 6m voting shares of M/s Agritech Ltd (formerly Pak-American Fertilizers Ltd), the first nitrogenous fertiliser plant built in Pakistan. “Under the above acquisition, Maple Leaf Cement Factory Ltd plus Maple Leaf Capital Ltd (person acting in concert) now hold 44,670,000 voting shares of the target company, ie 11.38 per cent aggregate shareholding (taken together with voting shares already held by MLCL) in the target company’s share ... |
Maple Leaf Cement Factory diversifies into hospitals12 March 2024, Published under Cement NewsMaple Leaf Cement Factory Ltd informed the Pakistan Stock Exchange (PSX) about its investment in the hospital business on 10 March. The bourse filing said that Novacare Hospitals (Pvt) Ltd, a wholly-owned subsidiary of the company, will start constructing a state-of-the-art hospital in Islamabad and has signed an international affiliation agreement with Imperial College Healthcare NHS Trust, a leading UK teaching hospital group. The total investment in the project will be US$110m, and the ... |
Maple Leaf Cement Factory saw a fall in profit in 1HFY23-2423 February 2024, Published under Cement NewsMaple Leaf Cement Factory Ltd (MLCF) reported its 2QFY23-24 (October-December 2023) and 1HFY2023-24 results to the Pakistan Stock Exchange (PSX), posting net earnings of PKR2.24bn (US$) in 2QFY23-24, down 23 per cent YoY and up 38 per cent QoQ. This takes 1HFY23-24 (July-December 2023) earnings to PKR3.86bn compared to PKR4.30bn, down 10 per cent YoY due to a decline in sales volumes. According to Topline Pakistan Research, the 2QFY23-24 result exceeded industry expectations due to high... |
Maple Leaf Cement to move into hospital sector21 November 2023, Published under Cement NewsPakistan’s Maple Leaf Cement (MLCF) is investing PKR800-900m (US$2.77-3.12m) in a new solar power plant. The plant is expected to have a production capacity of 7.5MW. The company has also announced plans to diversify into the health business with the construction of a hospital. According to the company, the margins would be better than those seen in the cement business. The hospital project is expected to take three years to complete and represents an investment of PKR30bn. Although loc... |
Maple Leaf Cement profits increase to PKR1.62bn in 1QFY23-2430 October 2023, Published under Cement NewsPakistan cement producer Maple Leaf Cement Factory Ltd ( Kohinoor Textile Mills Ltd ) announced its financial results for the first quarter ended 30 September 2023, on the Pakistan Stock Exchange (PSX) website. Its net profit after taxation rose to PKR1.62bn (US$5.84m) from PKR1.37bn during this comparative period due to higher revenue. Its net sales increased to PKR16.67bn in the 1QFY23-24 from PKR12.82bn in the year-ago period. It incurred a higher distribution cost of PKR1.15bn ag... |