Cement News tagged under: Pakistan
APCMA reports 19% increase in cement dispatches in May 202305 June 2023, Published under Cement NewsThe All Pakistan Cement Manufacturers Association (APCMA) released more encouraging data for May 2023 than in the previous month of April, which was overshadowed by the season break during Ramadan. The cement representative body is salient about the upward trend. The rise in dispatches has been attributed to increased export and local buying before the announcement of the federal budget as a precaution against measures that would put upward pressure on prices. In addition, falling coal pric... |
Low cement production in 1HFY22-23 attributed to construction downtrend26 May 2023, Published under Cement NewsLast week, the State Bank of Pakistan (SBP) released its half year report for the FY22-23 on the state of Pakistan’s economy. The analysis in the report covered all sectors, including cement, was prepared on data for the July-December 2022 period. Cement industry output The output in the cement sector contracted by 15.1 per cent during the 1HFY22-23, compared to a 0.9 per cent decline in the same period last year. According to the All Pakistan Cement Manufacturing Association (APCM... |
Cement export revenue totals US$150m in 10MFY22-2323 May 2023, Published under Cement NewsThe cement industry in Pakistan experienced a mixed trend in export revenue during the first 10 months of the current financial year, which runs from July 2022 to June 2023. While the amount of revenue earned in US dollars decreased, it actually improved in terms of the Pakistani rupee due to the currency's devaluation. Based on the latest data from the Federal Bureau of Statistics (FBS), the cement industry's export earnings for the 10MFY22-23 amounted to US$150.487m, with 3.242Mt of ce... |
DG Khan Cement to diversify into new cement export markets19 May 2023, Published under Cement NewsPakistan-based DG Khan is diversifying cement operations into new export markets, further enhancing the company's revenue mix. It recently delivered a 0.6Mt export order to the USA, according to a local research house. DG Khan Cement , which had increased its southern region capacity by 2.8Mta to 7.1Mta at its Hub plant in Balochistan in 2018, has not yet announced any capacity project during the ongoing expansionary cycle. According to AKD Securities Ltd, the industry capacity has in... |
Pakistan cement production output fall in 9MFY2317 May 2023, Published under Cement NewsThe political unrest, fragile economy, high-interest rates and inflation are now reflected in the production data of large Pakistan-industry industries. On top of this, restrictions on raw materials import also dent industrial progress. The overall output of Pakistan's Large-Scale Manufacturing Industries Index (LSMI) has shown a decline of 8.11 per cent during July- March 2022-23 compared with last year. The LSMI output decreased by 24.99 per cent for March 2023 compared with March 2022 ... |
A score of cement companies mixed financial results in 9MFY22-2315 May 2023, Published under Cement NewsSeveral of Pakistan’s cement firms have presented their financial result for the 3QFY22-23 and 9MFY22-23 in April/May 2023. During the accounting period of nine months, they reported mixed results due to a rise in the cost of sales, distribution and finance charges, etc. High inflation and political unrest also dented sales and profits. In the 9MFY22-23 Flying Cement Co Ltd reported a decrease in profit after tax (PAT) to PKR226m (US$0.79m) from PKR766m earned in the corresponding pe... |
Attock Cement to sell its 60% share in Iraqi plant09 May 2023, Published under Cement NewsAttock Cement Pakistan Ltd (ACL) is expected to hold an Extraordinary General Meeting (EGM) of the shareholders on 25 May 2023, to consider and, if deemed fit, to pass a resolution of disposal and to enter into a share purchase agreement 18m shares held by the company in its subsidiary, Saqr-Al-Keetan cement grinding unit in Iraq. The grinding plant has a cement capacity of 540,000tpa and was set up in 2019. ACL will sell 60 per cent of the entire share capital of Saqr Al-Keeta... |
April's local cement dispatches fall, but exports rise05 May 2023, Published under Cement NewsThe All Pakistan Cement Manufacturers Association (APCMA) has warned about the fall of cement dispatches to local and overseas markets during April and 10MFY22-23 (July 2022-April 2023), which was due to a seasonal break in construction activities in the holy month of Ramadan and inflation pressure on buying power of consumers. In addition, APCMA said that the current economic turmoil has badly impacted cement consumption. Therefore, total cement dispatches declined by 16.6 per cent to 2.951... |
Lucky Cement to buy back its shares at market prices04 May 2023, Published under Cement NewsThe Board of Directors of Lucky Cement Ltd , in its meeting held on 28 April 2023, has approved and decided to recommend to the members of the company for their approval by passing of special resolutions, the purchase/buyback of up to 23,800,000 issued ordinary shares of the company (constituting approximately 7.5 per cent of the current issued and paid up share capital of the company), of the face value of PKR10/share, each by the company by Section 88 of the Act read with the Regulations,... |
Lucky Cement sales increased by 19% in 9MFY2303 May 2023, Published under Cement NewsLucky Cement Ltd has announced its financial results for the third quarter ending 31March 2023 and the 9MFY23. It reported a profit after tax of PKR11.13bn (US$39.2m) compared to PKR11.3bn earned in the nine months of the corresponding period last year. This reflects a negative growth of two per cent YoY. According to the company’s notification to the Pakistan Stock Exchange (PSX), its sales increased by 19 per cent to PKR70.34bn from PKR58.89bn during the same period last year. It incurr... |