Cement News tagged under: Pakistan
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... |
Cement dispatches eroded in April due to Ramzan and Eid03 May 2023, Published under Cement NewsAccording to Topline Securities, Pakistan’s total cement sales in April 2023 are expected to fall by 25-29 per cent MoM to reach 2.7-2.9Mt, with local dispatches likely to be down by 28-32 per cent MoM, due to the Eid holidays, economic slowdown and muted construction activity during Ramadan. All Pakistan Cement Manufacturers Association (APCMA) is yet to release official data on cement dispatches (domestic and overseas) for April 2023 and the 10MFY22-23. Total cement dispatches in April... |
Power Cement and Dewan Cement announce financial results28 April 2023, Published under Cement NewsTwo more cement companies in Pakistan announced their financial results for the third quarter ending 31 March 2023, and 9MFY22-23. Power Cement reported an increase in profit by 18.5 per cent in 9MFY22-23, while Dewan Cement reported a loss after taxation of PKR758m (US$2.67m) against a loss of PKR64m during this period. The financial data indicates higher sales and expensive production costs on inflated financing. Power Cement Ltd has announced profits after tax increased to PKR5... |
Pakistan's cement industry saw a mixed export revenue trend in 9MFY22-23 and March25 April 2023, Published under Cement NewsPakistan's cement industry saw a negative trend in export revenue on the back of a range of factors, including a slowdown in economic activity in Pakistan and overseas. According to the country’s Federal Bureau of Statistics (FBS), in the 9MFY22-23 the cement industry earned US$135.439m by exporting 2.91Mt of cement and clinker, compared with US$199.372m from 5.23Mt exports in the 9MFY21-22. This shows that exports slid by 32.1 per cent in value, and volumes were down by 44.4 per cent. In lo... |
Fauji Cement Co to become Pakistan's third-largest cement producer25 April 2023, Published under Cement NewsFauji Cement Co Ltd (FCCL) heads to become the third-largest cement producer with a total cement production capacity of 10.5Mta in Pakistan, according to AKD Research. FCCL commissioned its Nimazpur capacity expansion of a 2.05Mta plant at Khyber Pakhtunkhwa in late October 2022. Moreover, another capacity expansion for FCCL of 2.05Mta at Dera Ghazi Khan is in the pipeline and is expected to be commissioned in 2QFY23-24. The research house has estimated that the current coal mix... |