Cement News tagged under: Pakistan
Cement industry profits are impacted by burgeoning financing costs21 April 2023, Published under Cement NewsSpectrum Research has reported that sluggish economic activities lead to a decline in Pakistan's construction materials demand, mainly cement and steel. The higher inflation and low purchasing power primarily contributed to reduced cement dispatches. Moreover, the higher interest rate increases the financing cost and reduces the sector's bottom line. This would be reflected in the financial results of Pakistani cement companies when they announce 3QFY22-23 or 9MFY22-23 (July-March 2023) res... |
Fauji Cement reports 30% leap in profit in 9MFY22-2320 April 2023, Published under Cement NewsPakistan’s Fauji Cement Company has reported a 30.4 per cent YoY increase in profit in the nine months ended 31 March 2023 (9MFY22-23). Profit over the period came in at PKR6.97bn (US$24.67m), up from PKR5.35bn in the same period a year earlier. The increase is being attributed to higher gross margins and net finance income, according to Mettis Link News. Net revenue over the nine months came in at PKR51.9bn, up 35.2 per cent YoY, with better margins on the back of price hikes helping t... |
Maple Leaf Cement Factory sales advance 42% YoY18 April 2023, Published under Cement NewsPakistan’s Maple Leaf Cement Factory Ltd has reported consolidated sales of PKR17,038m (US$59.9m) in the quarter ended 31 March 2023. This compares to PKR11,990m in the same period a year earlier, marking a YoY increase of 42 per cent. Over the same three months, profit after tax improved from PKR1563m to PKR1875m, while earnings per share (EPS) advanced from PKR1.42 to PKR1.75. Over the nine months ended 31 March 2023, the company saw net sales of PKR47,089m, up from PKR34,091m in the s... |
Dandot Cement completes Punjab plant upgrade13 April 2023, Published under Cement NewsMuhammad Kamran, company secretary of Dandot Cement Co Ltd, has stated that commercial production is expected to resume in the first quarter of the next financial year upon completing Balancing the Modernisation of Replacements (BMR) of 504,000t capacity at the Jehlum cement plant in Punjab, Pakistan. A regulatory filing to the Pakistan Stock Exchange (PSX) and the last financial report adds that to meet the legal standards and to avoid any adverse action from Environmental Department, ... |
APCMA releases mixed dispatches data for March 202306 April 2023, Published under Cement NewsTotal cement dispatches of Pakistan's cement mills in March 2023 were 3.795Mt against 5.01Mt in the previous fiscal year, representing a fall of 24.2 per cent. A spokesman of the All Pakistan Cement Manufacturers Association (APCMA) said that construction activities in both the northern and southern regions of the country have significantly decreased in recent months, which is not only creating an alarming situation for the industry but also drying up the employment opportunities f... |
Pakistan cement dispatches down 24% YoY in March04 April 2023, Published under Cement NewsTotal cement dispatches (local sales and exports) in Pakistan fell 24 per cent YoY in March to 3.795Mt, according to the All Pakistan Cement Manufacturers Association (APCMA). Domestic sales were down 29 per cent YoY to 3.356Mt due to a continued slowdown in construction activities. Exports, meanwhile, saw a 48.5 per cent YoY increase in shipments in March to 438,433t, although for the July 2022-March 2023 period exports were down 35 per cent YoY, reports Dawn. Over the 9MFY23, total ... |
Bestway Cement opens 2.3Mta Mianwali plant31 March 2023, Published under Cement NewsPakistan’s Bestway Cement has begun operations at its greenfield plant in District Mianwali. The plant is Bestway's eighth production line with a cement production capacity of 2.3Mta. The state-of-the-art and environmentally friendly works has its own 9MW waste heat recovery plant and 20MW solar power plant, enabling it to meet over 50 per cent of its energy requirements through green and renewable sources. Bestway is also a leader in water conservation, installing an air cooled conden... |
Lucky Cement continues to lead the Pakistan market29 March 2023, Published under Cement NewsLucky Cement has become the 10th-largest producer in market capitalisation on the Pakistan Stock Exchange (PSX) and continues to lead the cement industry as the largest cement producer in the country. According to AKD Research, Lucky Cement commissioned its Pezu capacity expansion of 3.15Mta in late December 2022 in Khyber Pakhtunkhwa, with a total cement capacity of 15.3Mta, holding its mark as the largest cement producer of Pakistan. Lucky Cement has 10.3Mta of cement capacity in th... |
DG Khan Cement completes solar power plant in Punjab29 March 2023, Published under Cement NewsKhalid Chohan, company secretary of DG Khan Cement Co Ltd ( Nishat Group ), informed the Pakistan Stock Exchange (PSX) on 27 March 2023 that the company has completed the construction and installation of an on-grid solar power plant of 6.952MW at its site in Khairpur , Chakwal district in the Punjab province of Pakistan. The plant has a capacity of 2.11Mt and uses mixed power generation. It has a dual fuel power production capacity of 33MW and 12MW of WHR. The project has successfu... |
Lucky Cement receives NFEH's 15th Corporate Social Responsibilities Awards 202322 March 2023, Published under Cement NewsLucky Cement Ltd has announced winning the NFEH’s 15th Corporate Social Responsibilities Awards 2023 in the "Green Energy Initiatives" category. This award recognises the company's unwavering commitment to sustainable development and reducing its carbon footprint through the implementation of renewable energy solutions in its operations. Chief Operating Officer of Lucky Cement Ltd Amin Ganny, expressed his gratitude for the recognition and reiterated the company's commitment to promoti... |