Cement News tagged under: Pakistan
Pakistan: Lahore Stock Exchange delists Mustehkam Cement after Bestway merger27 December 2013, Published under Cement NewsLahore Stock Exchange has delisted Mustehkam Cement as the company merges with Bestway Cement on 26 December. The move finalises a process that saw Mustehkam Cement shareholders approve the merger last May with the Islamabad High Court following suit on 30 September 2013. |
Pakistan November dispatches decline, prices hold firm05 December 2013, Published under Cement NewsPakistan cement dispatches in November fell six per cent compared to the previous month but cement prices have risen by four per cent since the start of the current fiscal. Preliminary data shows that dispatches declined to 2.6Mt in November 2013 as the onset of winter hampers sales. However, on a YoY basis, sales were down by only two per cent. Domestic demand is expected to have reached 2Mt, down three per cent MoM but up by three per cent on an annual comparative basis. Exports, howeve... |
Lucky to begin Basra plant trial production, Iraq29 November 2013, Published under Cement NewsPakistan's largest cement producer, Lucky Cement, has said it is working on its 0.87Mta grinding plant in Basra, Iraq on a fast-track basis and trial productions are expected to begin next month. The company intends to import clinker from the UAE for this project. The new grinding plant is expected to cost US$35m, with an expected payback period of three years. Lucky Cement has said it may consider setting up a fully integrated works in Iraq, on successful implementation of the Basra fa... |
Pakistan dispatches slip in first four months of FY13-1429 November 2013, Published under Cement NewsPakistan cement sales in the first four months of the current fiscal slipped 0.39 per cent, while capacity utilisation stood at 70 per cent due to heavy monsoons and Eid holidays, a spokesperson from the All Pakistan Cement Manufacturers Association has said. During the July-October period, total sales were 10.437Mt compared to 10.477Mt in same period of last year. Local cement dispatches during the period stood at 7.518Mt against 7.524Mt the year before. Exports during the four months wer... |
Pakistan export volumes rise in 4MFY13-1427 November 2013, Published under Cement NewsPakistan export volumes have increased in the first four months of the current fiscal compared to the same period a year ago, but October volumes were down on a monthly and annual basis. During the first four months of the current fiscal, Pakistan exported 3.159Mt of cement on revenues of US$190.08m, data from the country’s Bureau of Statistics shows. This translates to a 7.42 per cent YoY increase in volumes but a marginal decline of 0.04 per cent in value terms. However, in terms o... |
Bestway and Mustehkam Cement complete merger27 November 2013, Published under Cement NewsPakistan cement producers Bestway Cement and Mustehkam Cement have announced the completion of their merger into a single company. Mustehkam Cement has been a subsidiary of Bestway Cement since in 2005 and the main of objective of this new merger is to operate the businesses under one management to achieve economies of scale. The merger would result in administrative and procurement savings and reduce marketing costs leading to enhanced profitability, the companies said when the move was f... |
UGTA strike impacts Pakistan cement exports, raw material supplies15 November 2013, Published under Cement NewsAn indefinite strike by Pakistan’s Goods Transporters Alliance (UGTA), now in its 10th day, is impacting the delivery of cement exports as well as raw material supplies. Export consignments from cement factories to the Karachi and Muhammabd Bin Qasim ports in the Sindh Province have been disrupted due to the non-availability of trucks. Supplies of raw materials to cement factories from the ports also remain suspended. The MV Alam Sayang vessel is waiting at Port Qasim to load cement. M... |
Pakistan cement sector 1Q earnings rise 14%06 November 2013, Published under Cement NewsPakistan's cement sector earnings rose by 14 per cent in the first quarter of the current fiscal with nine of the country's leading producers posting higher growth. Lucky Cement, DG Khan, Fauji Cement, Maple Leaf Cement, Attock Cement, Pioneer Cement, Cherat Cement, Kohat Cement, Facto Cement together constitute 68 per cent of the sector’s market capitalization. Analysts at JS Research attribute the increased profitability to increasing margins and a reduction in financial costs due to ... |
Lucky Cement first-quarter profit up 26%31 October 2013, Published under Cement NewsPakistan’s largest cement producer, Lucky Cement, reported a rise in profit of 26 per cent in the first quarter of the current fiscal. The company recorded after-tax profit of PKR2.54bn (US$23.8m) or earnings per share of Rs7.87 compared to profit of PKR2.01bn or EPS of Rs6.23 in the previous quarter. Revenues rose 20 per cent YoY to PKR10.6bn in the first quarter of 2013-14 against sales of PKR8.85bn in the same period of last year. Operating cost fell 22 per cent to PKR975m, which wa... |
Pakistan September export volumes ahead28 October 2013, Published under Cement NewsPakistan achieved double-digit rises in both export volumes and revenue in September compared to the month before, data from the Bureau of Statistics shows. Exports during September 2013 totalled 919,150t on revenues of US$52.41m compared to 765,917t at US$45.30 in August. This translates into a 20.1 per cent rise in terms of volumes and 15.71 per cent increment in foreign exchange revenue. On a YoY basis, volumes rose by 9.87 per cent compared to 836,585t in September 2012, but the va... |