Cement News tagged under: Pakcem

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Pakistan: Bestway Cement profit up 48% for 9MFY2016

06 May 2016, Published under Cement News

Bestway Cement has announced after tax profits of PKR7.45bn (US$71m) in the nine month period to 31 March 2016, a 34 per cent increase YoY. Total sales rose to PKR24.42bn (US$233m) – an increase of 11 per cent YoY. Profits rose on the back of lower administrative and distribution costs, which fell by 2.4 per cent and 17.3 per cent respectively to PKR289m (US$2.8m) and PKR439m (US$4.2m). Finance costs increased sharply to PKR1.3bn (US$12.4m). Bestway’s sister concern, Pakcem Ltd, also e...

Pakistan: amalgamation of Bestway Cement and Pakcem complete

11 April 2016, Published under Cement News

The Board of Directors of Bestway Cement Ltd (BCL) and Pakcem Ltd (formerly Lafarge Pakistan Cement Ltd) in their meetings held on 7 April 2016 have approved the scheme of amalgamation of Pakcem Ltd with and into Bestway Cement Ltd and its placement before the shareholders in the extraordinary general meeting of the company as special business for their approval as per requirement of Companies Ordinance, 1984. In July 2014, BCL entered into a binding agreement to acquire Pakcem and on 22 ...

Bestway consolidated turnover up 45.5%

22 February 2016, Published under Cement News

Bestway Cement Ltd (BCL) said that its consolidated net turnover for the first half of FY15-16 soared by 45.5 per cent YoY to PKR21.1bn, largely due to the acquisition of Pakcem Ltd, an increase in domestic demand and stable retention prices.   The company's gross margin of PKR8.9bn rose by more than 61.9 per cent over the same period last year. Profit before tax for the period amounted to PKR7.6bn, representing a YoY increase of 37 per cent. Consolidated profit after tax also climbed 47 pe...

Bestway Cement recognised for sustainability endeavours

21 January 2016, Published under Cement News

Bestway Cement, together with its newly-acquired Pakcem unit, was honoured for its efforts in contributing to sustainable development, when it received four awards at an award ceremony held in Islamabad, Pakistan. Bestway won the coveted awards in the categories of Green Energy Initiatives, Community Development and Service, Education and Scholarship and Employee Engagement and Volunteering, The Pakistan Observer reported yesterday. The Waste Heat Recovery Power Plants, Health and Safety i...

Bestway boosted by Pakcem contribution

14 January 2016, Published under Cement News

Bestway Group of the UK, parent company of Pakistan's largest cement producer, announced that its consolidated turnover for the year ending 30 June 2015 increased by 20 per cent to GBP3.06bn from GBP2.55bn in 2014. Profit before tax for the year ended 30 June 2015 was up 39.9 per cent to GBP373.8m from GBP267.1m in 2014. All group businesses continued to be profitable, the group noted. Commenting on the results, group chief executive, Zameer Choudrey, CBE, said: “The past financial year has...

Pakistan: Bestway Cement and Pakcem results update

16 September 2015, Published under Cement News

Bestway Cement and group company Pakcem have posted a positive bottom line. Net turnover increased by 5.4 per cent from PKR28.9bn (US$277m) to PKR30.5bn for Bestway and Pakcem saw a 9.4 per cent increase from PKR5.11bn from the corresponding period to PKR5.58bn to June 2015. “We are happy to share our annual results for 2014-15 for Bestway Cement and six-month period for Pakcem, with growth in sales of 4.18 per cent for Bestway and 11.5 per cent for Pakcem,’ said Zameer Choudrey, chief exec...