Cement News tagged under: Pakistan
Pakistan cement exports surged in September04 October 2024, Published under Cement NewsAll Pakistan Cement Manufacturers Association (APCMA) released local and overseas dispatch data for September and July – September on 3 October. The data reflects that Pakistan cement producers continued to experience headwinds in local sales, but exports remained beneficial. Cement dispatches declined by 5.63 per cent in September 2024 to 3.54Mt, compared to 3.751Mt dispatched during the previous fiscal year. APCMA attributed that due to increased cement prices due to irrational taxation... |
Cherat Cement exports increased by 22% in FY2403 October 2024, Published under Cement NewsCherat Cement Co Ltd has released a detailed report for FY24. The 43rd Annual General Meeting will be held on 16 October 2024, to approve the account for the same financial year. The company will consider and approve the payment of the final cash dividend at 40 per cent (PKR4 per share). This is in addition to an interim cash dividend at 15 per cent (PKR50 per share) already paid to the shareholders for the financial year ending 30 June 2024, as the Board of Directors recommended. Accor... |
Thatta Cement achieves 22.57% increase in local cement dispatches02 October 2024, Published under Cement NewsThe directors of Thatta Cement Co Ltd (TCCL) have released a financial report and the company’s audited financial statements for the fiscal year ending 30 June 2024. In the FY23-24, the company achieved a 22.6 per cent increase in local cement dispatches compared to the previous year. An impressive 39 per cent rise matched this surge in volume in revenue. The revenue growth is largely due to a significant increase in cement retention prices. This price adjustment enhanced the compa... |
Dewan Cement Ltd reported a net loss of US$1.72m for FY23-2402 October 2024, Published under Cement NewsDewan Cement Ltd (DCL), a major cement producer in Pakistan, has reported a net loss of PKR509.7m (US$1.72m) for the financial year ended 30 June 2024 (FY23-24), slightly improving from a loss of PKR586.3m in the previous fiscal year. The company’s net turnover increased by 10.5 per cent to PKR22.319bn, up from PKR20.199bn in the FY22-23 period. Despite the rise in turnover, the cost of sales also grew, reaching PKR21.925bn, resulting in a gross profit of PKR993.9m, more than double the... |
Gharibwal Cement posts 15% increase in FY net profit26 September 2024, Published under Cement NewsGharibwal Cement Ltd reported a net sales revenue of PKR18.165bn (US$65.5m) in the financial year ended 30 June 2024 (FY23-24), down 0.8 per cent from PKR18.316bn in the FY22-23. The Pakistani cement producer posted a gross profit PKR3.775bn, representing a 0.5 per cent decrease when compared with the year-ago period when gross profit was PKR3.793bn. Profit from operations slipped by 1.2 per cent to PKR2.75bn in FY23-24 from PKR2.783bn in FY22-23. However, net profit increased by 14.5 ... |
Pakistan's cement export volume rose amid lesser revenue in 2MFY24-2520 September 2024, Published under Cement NewsPakistan’s cement and clinker exports dropped by 16.9 per cent in the first two months of the current financial year 2024-25 to US$36.70m (992,026t) from US$39.64m (981,400t) in the same period of the previous year, as reported by the Pakistan Bureau of Statistics (PBS). In Pakistani rupee terms, export revenue saw a double-digit fall of 10.7 per cent to PKR10.22bn (US$37.6m). However, export volumes increased by 1.1 per cent YoY in the same period. The export growth trend from the previo... |
Pioneer Cement reports 98% surge in full-year net profit18 September 2024, Published under Cement NewsPakistan-based Pioneer Cement Ltd , reported revenue of PKR35.52bn (US$127.7m) in the FY23-24 ended 30 June 2024. This represents a drop of 1.8 per cent when compared with PKR36.165bn in the FY22-23. However, the company’s gross profit improved by 25 per cent YoY to PKR11.763bn in FY23-24 from PKR9.409bn in the year-ago period while operating profit saw a 21 per cent uptick to PKR10.756bn from PKR8.889bn over the same period. The company’s net profit advanced by 98.2 per cent to PKR5.17... |
DG Khan Cement posts a profit of PKR542m in FY23-2417 September 2024, Published under Cement NewsDG Khan Cement Co Ltd (DGKC) reported its financial results for FY23-24 on the Pakistan Stock Exchange website on 16 September. The company posted a profit of PKR542m (US$1.95m) compared to a loss of PKR3.64bn in the previous period. Other income and lower taxation helped to achieve profit during this period. According to AHL Research, DG Khan's topline during FY23-24 reached PKR66.03bn, an uptick of two per cent YoY in contrast to PKR64.98bn in the previous period, on the back of high... |
Investment Fund for Developing Countries sells Power Cement stake12 September 2024, Published under Cement NewsThe Investment Fund for Developing Countries and IFU Investment Partners K/S (IIP) have decided to dispose of their combined 6.1 per cent stake in Power Cement Ltd , Pakistan. IFU Investment Partners K/S (IIP) and the Investment Fund for Developing Countries (IFU), which hold a total of 80,506,670 shares in Power Cement, have decided to dispose of the entire shareholding in the company. IFU and IIP have been shareholders in Power Cement for approximately seven years, which is a regular... |
Maple Leaf Cement Factory's profit grows by 19% in FY23-2411 September 2024, Published under Cement NewsMaple Leaf Cement Factory Ltd (MLCF) uploaded its financial results for FY23-24 to the Pakistan Stock Exchange (PSX) on 11 September 2024. The company posted a profit after tax (PAT) of PKR6.891bn (US$24.7m), an increase of 19 per cent YoY compared to PKR5.771bn in the previous period. According to AHL Research, the topline of MLCF during FY23-24 increased by seven per cent YoY to PKR66.452bn. The revenue growth comes on the back of higher retention prices. Selling and distribution e... |