Cement News tagged under: Pakistan
Power Cement looks to enhance financial and tax efficiencies02 October 2023, Published under Cement NewsThe Board of Directors at Pakistan-based Power Cement Limited has requested the company's management explore and evaluate opportunities for a potential reorganisation of group companies. According to Mettis Global, the objective is to enhance financial and tax efficiencies across the group's entities. The decision came in response to an invitation from the group's leadership, urging the company to examine viable options that strengthen the balance sheets of group companies for financial... |
Cherat Cement's local dispatches fall while exports rise02 October 2023, Published under Cement NewsThe management of Cherat Cement Co Ltd ( Gulham Faruque ) held a corporate briefing session on 28 September 2023 to discuss the financial performance during FY23 and its outlook. To recall, the company posted earnings of PKR4.4bn (US$15.3m) in FY23 compared to PKR4.5bn in the previous year, a decline of one per cent YoY. The annual decline was due to higher financial charges and taxation, as presumed by AKD Research and AHL Research. Dispatches local/export In terms of sales volumes... |
Pakistan to expect a mixed trend in dispatches in September29 September 2023, Published under Cement NewsThe cement dispatch trend in Pakistan will likely be mixed in September 2023 due to monsoon rain and transport issues, according to Topline Pakistan Research. However, the All Pakistan Cement Manufacturers Association (APCMA) has yet to release official data to support or contradict this scenario. A mixed trend of dispatches was recorded during the first two months of the current financial year. The research house believes that Pakistan's total cement sales in September 2023 are expect... |
Gharibwal Cement's profit decreases in FY2329 September 2023, Published under Cement NewsGharibwal Cement Ltd (GWLC) announced its financial results for 30 June 2023, on the Pakistan Stock Exchange’s 27 September 2023 website. The company saw a decrease in its profit to PKR1.23bn (US$430.1m) from PKR1.35bn earned in the same period last year. This represents a nine per cent YoY fall in profit YoY. The major factors responsible for this reduction were increased sales, selling and distribution expenses, and higher taxation and finance costs. The company sales increased by... |
Dewan Cement reports losses on higher costs in FY22-2328 September 2023, Published under Cement NewsDewan Cement Ltd (DCL), subsidiary of Mega Conglomerate Pvt Ltd posted its financial results for FY22-23 on the Pakistan Stock Exchange (PSX) website on 26 September 2023. It reported a loss after taxation of -PKR586m against a loss of -PKR703m reported in a comparative period last year. The lower loss is attributed to the high cost of sales during this period despite better earnings of other income. According to the company's results, its sales increased to PKR20.19bn from PKR16.51bn... |
Thatta Cement's profit increased in FY22-23 and plans share buyback28 September 2023, Published under Cement NewsThatta Cement Co Ltd (THCCL) announced its financial results for the year ended 30 June 2023 (FY22-23) at the Pakistan Stock Exchange (PSX) on 27 September. It reported an increase in profit after tax to PKR249m (US$0.86m) from PKR119m earned in the corresponding period last year. This reflects a growth of 109 per cent YoY, mostly due to higher sales and other income that made the company report a better profit this year. Its net sales increased to PKR5.41bn from PKR4.26bn during this peri... |
Maple Leaf Cement Factory reveals export risks25 September 2023, Published under Cement NewsMaple Leaf Cement Factory Ltd (MLCFL), subsidiary of Kohinoor Textile Mills , said it has achieved the highest sales of PKR62bn (US$211.7m) and the highest ever operating profit of PKR12bn in FY22-23. Further, the company installed new Line 4 during the last financial year, having a capacity of 7000tpd in Iskanderabad, Mianwali district, Pakistan, according to the detailed annual report of the cement factory, released on 21 September. Sales and exports The sales volume of 4.73Mt depi... |
Pakistan's cement industry saw significant export growth in 2MFY23-2420 September 2023, Published under Cement NewsPakistan's cement industry saw significant growth in cement exports, both over land to Kabul and further afield by sea during 2MFY23-24 due to the depreciation of the Pakistani rupee and the falling prices of Afghan and local coal. According to AKD Securities Ltd, cement exports are expected to show growth going forward, driven by the viability of export prices, particularly in light of declining coal prices. IMS Research also believes that exports continue to demonstrate robust growth, p... |
Lucky Cement announces three new green power projects19 September 2023, Published under Cement NewsPakistan’s Lucky Cement has announced further investments in green power to help reduce its dependence on imported fuel. According to Business Recorder, the cement producer is launching three new renewable projects with a total power generation capacity of 37.6MW, in addition to the 25MW and 34MW solar power projects recently commissioned at its Karachi and Pezu plants, respectively. The new investments include a 28.8MW captive wind power plant at its Karachi works, a 6.3MW solar powe... |
Pakistani cement likely to get caught up in Torkham border suspension15 September 2023, Published under Cement NewsPakistan imports/exports in general and incoming/outgoing dispatches of containers/cargo from Pakistani ports to Afghanistan, as a transit trade facility in particular, have been suspended at the Pakistani-Afghan Torkham border (northwestern Pakistan) for the last week due to tension between Islamabad and Kabul. As a result, hundreds of trucks carrying essential goods have been stranded on both sides since the border was shut down after an exchange of fire in a dispute over an under-co... |