Cement News tagged under: Pakistan
Pakistan: Lucky Cement 1QFY2017 profits up 16%28 October 2016, Published under Cement NewsIn its financial statement for the first quarter of the financial year starting in July, Lucky Cement has declared profits of PKR4.04bn (US$38.6m), the Express Tribune reports. This represents an increase of 16 per cent compared to the same period last year. Revenues were five per cent higher at PKR19.8bn, but much of the gain was driven by non-cement subsidiaries. Considering the cement business in isolation, Lucky’s revenues were PKR10.6bn, up two per cent, on sales of 1.7Mt. Domesti... |
Pakistan: export revenues fall in 1QFY16-1726 October 2016, Published under Cement NewsDespite growth in export to neighbouring countries, the export revenue of Pakistan's cement industry did not increase, due to overall weak demand from overseas markets. Pakistan cement manufacturers earned export revenues of US$24.52m on the export of 476,170t of cement during the month of September 2016 compared to US$30.04m on 573,395t in previous month. This translates to exports falling by 18.35 per cent and 16.96 per cent in terms of quantity and value in dollar, respectively on M... |
Pakistan: Maple Leaf and Thatta Cement 1QFY16/1726 October 2016, Published under Cement NewsPakistan's Maple Leaf Cement Factory earned profit after tax of PKR1.185bn (US$11.3m) in July- September 2016 compared to PKR846.72m in the corresponding period last year, representing a 40 per cent rise. The company's net sales increased to PKR5.52bn from PKR4.96bn in 1QFY15/16. It incurred higher distribution cost of PKR373m and administrative expenses of PKR124m from PKR303m and PKR112m during this comparative period. In addition, its financing cost fell to PKR52m from PKR185.9m of sam... |
Pakistan: Maple Leaf and Lucky Cement plan power plants24 October 2016, Published under Cement NewsPakistan's two leading cement manufacturers, Maple Leaf Cement Factory (MLCF) and Lucky Cement, have approached the National Electric Power Regulatory Authority (NEPRA) to obtain a formal generation licence for setting up power plants in the country. Maple Leaf Cement has earlier announced that its wholly-owned subsidiary company, Maple Leaf Power Ltd, had signed an agreement with plant supplier Sinoma Energy Conservation Ltd, China, to build a 40MW imported coal-fired power plant at Isk... |
Pakistan: Attock Cement profits up 44%21 October 2016, Published under Cement NewsAttock Cement Pakistan Ltd (ACPL) reported that it has earned profit after tax of PKR691m (US$6.6m) in 1QFY16-17 compared to PKR481m in 1QFY16, up 44 per cent YoY. According to ACPL notice to Pakistan Stock Exchange, its sales increased to PKR 3.35bn from PKR2.86bn of same quarter last year. The company's distribution cost increased to PKR 273m and administrative expenses rose to PKR104m from PKR189m and PKR97m in a first quarter of year ago period. A local research house while comment... |
Pakistan: Fecto Cement appeals mining ban20 October 2016, Published under Cement NewsFecto Cement has requested the Islamabad High Court (IHC) to allow it to carry out stone crushing activities in the Margalla Hills, which has been listed as a national park since 1980. The cement manufacturer asked the court to declare the lease cancellation letters issued by the Islamabad Capital Territory (ICT) administration and the Capital Development Authority (CDA) null and void. The ICT issued a mining lease to Fecto Cement in 2013 allowing it to carry out stone crushing activities... |
Pakistan: Flying Cement profits up 24%12 October 2016, Published under Cement NewsPakistan's Flying Cement Co Ltd has reported that it earned profit after tax of PKR145.69m (US$1.38m) in FY16, up by 24 per cent from last year. The cement producer does not announce any cash dividend, according to a company notice to Pakistan Stock Exchange. Company sales increased to PKR2.47bn in FY16 from PKR2.22bn in FY15. Flying Cement has incurred a distribution cost of PKR5.1m and administrative expenses of PKR26.39m, compared to PKR4.7m and PKR25.35m, respectively in corresponding ... |
Pakistan: cement sales rise by 3.6% in September07 October 2016, Published under Cement NewsThe All Pakistan Cement Manufacturers Association (APCMA) has announced that cement sales in the month of September rose by 3.55 per cent, reports the Tribune Newspaper. While domestic demand was relatively stable – accounting for around two per cent of the growth – exports, particularly to India, played a key role in sales growth. The APCMA recorded domestic dispatches rose two per cent YoY to 2.54Mt, while exports grew by 11.8 per cent to 0.52Mt. The Association said that a new prope... |
India: Ruling BJP party leader calls for Pakistan cement ban06 October 2016, Published under Cement NewsSubramanian Swamy, leader of the BJP, has called on his colleague, Prime Minister Narendra Modi, to ban the import of cement from Pakistan, the Economic Times reports. "I request you to ban import of cement into the country not only in the interest of growth and sustenance of domestic cement industry but also in keeping with the imperatives of national security. Ban of import from Pakistan will be in the interest of the country's security in the present juncture," Mr Swamy said in a lette... |
Pakistan: FY16 earnings up 16% YoY04 October 2016, Published under Cement NewsPakistan cement industry performed well in FY16 and concluded on a positive note for the cement sector with earnings clocking in at PKR36.4bn (US$348.3m), up 16 per cent YoY. According to research house, the growth in earnings was backed by eight per cent YoY increase in revenue amid higher dispatches, increased in margins due to lower fuel and power costs and 54 per cent YoY decline in finance cost. However, 6.6 per cent YoY increase in effective tax rate due to increasing share of local ... |