Cement News tagged under: Maple Leaf Cement
Profitability of top six Pakistan producers remains under pressure in 1QFY2021 October 2019, Published under Cement NewsThe top six cement producers in Pakistan are likely to report a fall in profits and losses in 1QFY20 on the back of significantly build-up in cost pressures, weak domestic demand, infighting among northern-based producers, local taxation issue and axle load factors, says a report of a local research houses. Analyst expects that the IMS Cement Universe (comprising Lucky Cement, Maple Cement, Kohat Cement, DG Khan Cement, Fauji Cement and Cherat Cement) to post combined net loss after tax o... |
Maple Leaf Cement profit falls by 60% in FY1920 September 2019, Published under Cement NewsMaple Leaf Cement Factory Ltd (MLCF) of Pakistan announced its financial results for FY18-19 today. It declared earning a net profit of PKR1.465bn (US$9.3m) (unconsolidated) as compared to PKR3.632bn earned in the same period last year. It shows profit dropped by 59.7 per cent, despite on a good development, when the company sales stood at PKR26bn, compared to PKR25.69bn in the same period last year. In a notification to Pakistan Stock Exchange (PSX), MLCF announced a final cash dividend ... |
Maple Leaf Cement wins corporate report award23 August 2019, Published under Cement NewsMaple Leaf Cement (MCL) and its sister concern Kohinoor Textile Mills of Pakistan have won the 'Best Corporate Report Award' for the year 2018 in their respective sectors. The ceremony was held in Karachi jointly hosted by ICAP and ICMAP, earlier this week. Maple Leaf Cement and Kohinoor Textile Mills both won the award for 2018 in their respective sectors at number one position. Transparent and meaningfully financial reporting for all stakeholders of the company is one of the key objectiv... |
Maple Leaf Cement set to begin production at new 7300tpd line17 April 2019, Published under Cement NewsPakistan’s Maple Leaf Cement has announced that it expects to start commercial production of clinker from its new 7300tpd line in Iskandarabad, Punjab province, next week. "After successful phase-wise commissioning test of installed equipment, the plant is in a trial run state," the company stated in a filing to the stock exchange. "Commercial production from new line of 7300tpd is expected to commence next week." The brownfield expansion is forecast to take total production at the plant ... |
Challenges to grow in 2019 for Pakistan cement sector02 January 2019, Published under Cement NewsPakistan's cement industry is likely to face a number of challenges in 2019 on the domestic front owing to a flatness in demand, high markup rates, price competition and currency depreciation, etc. According to the 'Investment Strategy 2019' report released by Spectrum Securities Ltd, after tremendous sales growth (13.8 per cent YoY) in cement dispatches during FY18, demand is expected to remain flattish in FY19 mainly due to higher base of FY18, reduction in allocation of the Public Sect... |
Pakistani cement firms downgraded from MSCI EM Index15 November 2018, Published under Cement NewsPakistan stock markets may see a repercussion of the MSCI Semi Annual Index Review in the short term. According to market sources, in its November 2018 Semi Annual Review, MSCI has downgraded United Bank (UBL) and Lucky Cement (LUCK) from Standard classification to Small Cap classification. Similarly, Maple Leaf (MCF) and Honda Atlas (HCAR) have been deleted from the Small Cap indexes. These changes will be effective on Monday, 3 December 2018 and will likely lead to passive foreign outfl... |
Maple Leaf Cement profits fall in 1QFY1924 October 2018, Published under Cement NewsPakistan's Maple Leaf Cement Factory Ltd (MLCF) announced its financial results for 1QFY19 with consolidated earnings falling at PKR587m (US$4.4m), down by 45 per cent YoY, as compared to PKR1073m reported in the same period last year. According to MLCF's notification to Pakistan Stock Exchange (PSX), company sales during the quarter declined by three per cent YoY to PKR5.65bn, likely due to a slowdown in dispatches as a consequence of a halt in development projects by the caretaker gover... |
Expansion project of Maple Leaf Cement on the track15 October 2018, Published under Cement NewsMaple Leaf Cement Factory Ltd has updated the Pakistan Stock Exchange about progress on it expansion project. According to Company Secretary, Muhammad Ashraf, the company is undertaking an additional dry-process clinker line of 7300tpd. The brownfield expansion at the existing Iskandarbad plant raises grey cement capacity at the plant to 18,000tpd. Total project cost is estimated at PKR26bn (US$197m), including the impact of the recent devaluation of the local currency. Project cost is be... |
Maple Leaf Cement profit down 4%19 September 2018, Published under Cement NewsPakistan’s Maple Leaf Cement has reported a 4.2 per cent YoY fall in its profit after tax for the year ended 30 June 2018. Profit for the period came in at PKR4.572bn (US$37.1m) with earnings per share of PKR7.92. Sales for the year improved by 7.5 per cent to reach PKR25.684bn, compared to PKR23.885bn in the year-ago period. However, the cost of sales surged by 25 per cent YoY due to rising coal prices. Gross profit was down 21 per cent YoY, according to Reuters. The company declared an int... |
Pakistan has eight brownfield cement projects underway29 May 2018, Published under Cement NewsThe eight brownfield cement projects with a total capacity of 18.8Mta are at various stages of completion and scheduled to be commissioned between June 2019 and June 2020 at an estimated cost of over PKR159bn (US$1.37bn) in Pakistan, according to a research house report. So far, all the projects have completed, on average, at least 46 per cent of their construction. China-based Sinoma is currently building a 1.9Mta plant for Bestway Cement at a cost of PKR18.9bn and about 55 per cen... |