Cement News tagged under: Pakistan
Pakistan to report fall in dispatches in 1M1403 February 2014, Published under Cement NewsThe Pakistan cement industry is likely to post a MoM drop of 13 per cent of total dispatches in January 2014 as winter affected both domestic and export shipments, which were down by 13 per cent and 12 per cent, respectively. But 7MFY14 (Jul-Jan) total dispatches minutely improved by 0.4 per cent to 18.68Mt. According to estimates of leading brokerage houses, cement units located in the north dispatched 1.95Mt and 611,000t in the south during January 2014 (total 2.56Mt) compared to 2.37M... |
Attock Cement first-half profit declines, Pakistan23 January 2014, Published under Cement NewsPakistan producer Attock Cement reported a nine per cent decline in net profit for the the first half of FY14 to PKR871m (US$8.26m). “The decline in profitability of the company is due to a higher tax rate,” JS Global Capital analyst Atif Zafar said, adding that inflationary pressures, particularly higher electricity rates in August last year negatively affected earnings. In the second quarter, earnings fell to PRK449m compared to PKR601m in the same quarter of FY13. However, going for... |
Pakistan 1H export volumes and revenue down22 January 2014, Published under Cement NewsPakistan exports declined both in terms of volume and value in the first six months of the current fiscal, data from the Bureau of Statistics shows. Cement exports totalled 4.206Mt on revenues of US$257.07m compared to 4.681Mt at US$304.31m. This translates into a 10.15 per cent decline in volume and 15.52 per cent fall in dollar value on a YoY basis. In terms of the Pakistan rupee exports were down by 7.41 per cent to PKR26.88bn over July-December 2012 period. The average export price ... |
Pakistan cement sector growth rises 5.2% in FY1320 January 2014, Published under Cement NewsPakistan’s central bank reported growth in the domestic cement sector in FY13 of 5.2 per cent compared to 2.9 per cent the year before. The annual report released last week by the State Bank of Pakistan shows that total growth in large-scale manufacturing recovered from just 1.1 per cent in FY12 to 4.4 per cent in FY13 – the highest rate in the past five years. Officials attributed the growth in the cement and construction industry to stability in building materials prices, a higher all... |
Pakistan production costs set to increase10 January 2014, Published under Cement NewsPakistan cement producers fear further production costs increases after the Gas Infrastructure Development Cess (GIDC) has been increased from PKR50/mmbtu to PKR100. This will push up costs for those producers with gas-fed captive power plants, such as Lucky Cement, DG Khan Cement and Maple Leaf Cement Company. The Pakistan Tribune quoted Farhan Mehmood of Sherman Securities as saying that the increase could lead to an increase of cement prices by PKR10-12/bag. The tax was initially... |
Pakistan exports fall in 5MFY1307 January 2014, Published under Cement NewsDuring the first five months of FY13-14, Pakistan exported 3.749Mt of cement on foreign exchange revenues of US$225.30m, down 0.44 and 8.03 per cent YoY in terms of volume and value, respectively. However, on a more positive note, in local currency terms, Pakistan producers and exporters saw growth of 0.93 per cent to PKR23.48bn. The average price fell 7.63 per cent to 7.63 per cent to US$60.09/t from US$65.05/t in the same five months of the previous fiscal. According to Pakistan’s B... |
Saigol appointed chairman of Maple Leaf Cement06 January 2014, Published under Cement NewsMaple Leaf Cement Factory Ltd (MLCFL) has appointed Tariq Saeed Saigol as chairman of the company for a term of three years. Company secretary Muhammad Ashraf on Friday announced that MLCFL's board of directors confirmed the appointment, effective 1 January 2014. |
Pakistan first-half cement sales edge ahead06 January 2014, Published under Cement NewsPakistan’s cement sales in the first half of fiscal FY14 edged ahead by 1.8 per cent with a long-awaited pick-up in exports recorded in December, latest data from industry association APCMA shows. Overall sales increased by 3.8 per cent in 2013 with domestic sales increasing to 2.33Mt from 2.24Mt in the same month of the year before. After declining for the first five months of FY14, exports increased to 625,000t in December 2013 against 580,000t in December 2012, resulting in YoY grow... |
Pakistan: quarterly gains expected03 January 2014, Published under Cement NewsPakistan cement dispatches during the second quarter of the current fiscal are expected to have increased by 5.13 per cent on a QoQ basis to 8.2Mt compared to 7.8Mt in the first three months of the year. According to a report by InvestCap, domestic sales are anticipated to have increased by 14 per cent over the October-December period on a QoQ basis but exports are seen declining 16 per cent. Total dispatches increased by four per cent in December compared to 2.73Mt in November, the re... |
Pakistani cement exports to India down 11%27 December 2013, Published under Cement NewsPakistan’s cement exports to India posted a fall of 11 per cent during Jul-Nov of this fiscal year compared to the same period last fiscal year, according to the Pakistani Business Recorder. Industry sources said non-tariff barriers are hampering cement export to India, which fell from 183,400t to 163,500t over the five months. Pakistan’s overall cement exports fell by three per cent to 3.5Mt. Currently, the country’s cement producers export around 25 per cent of total production. |