Cement News tagged under: Pakistan
Track and trace system for cement and auxiliary products in Pakistan21 March 2024, Published under Cement NewsThe Federal Board of Revenue of the Government of Pakistan (FBR) is seeking applications for the grant of five-year licence(s) under Licensing Rules, 2019, of track and trace system/solution (TTSS) for electronic monitoring of cement and auxiliary products manufacturers and importers in Pakistan. The licensee(s) will be responsible for the end-to-end installation and operation of a TTSS connecting manufacturing sites and import stations to the FBR's central control room (CCR). The TTSS wo... |
Mixed Pakistan export revenue trend in 8MFY23-2419 March 2024, Published under Cement NewsPakistan’s cement industry has registered noticeable growth in the first eight months of FY23-24 (July 2023-February 2024), due to the continued good exchange rate of the Pakistani rupee against foreign currency and other factors. Pakistan’s cement and clinker exports increased by 39.3 per cent in the 8MFY23-24 to US$163.9m (4.245Mt), compared to US$117.69m (2.473Mt) in the 8MFY22-23, the Pakistan Bureau of Statistics (PBS) said. In Pakistani rupee terms, export revenue saw a significant ... |
Flying Cement Co posts a profit rise of 23% during 1HFY23-2413 March 2024, Published under Cement NewsFlying Cement Co Ltd has released detailed interim financial statements for the 1HFY23-24, which ended 31 December 2023. The company earned a net profit after tax of PKR170.95m (US$0.612m) when compared with PKR138.85m in the 1HFY22-23, up by 23.1 per cent YoY due to increased sales (PKR2.36bn) during this period. Yet, it incurred a higher borrowing cost of PKR112m and taxation of PKR74.38m in the accounting period. Outlook Ongoing challenges remain higher energy costs, transportati... |
Fecto Cement's performance in increases 2% in 1HFY2412 March 2024, Published under Cement NewsAccording to the recently-released Fecto Cement Ltd 1HFY23-24 report, clinker production increased by 2.4 per cent during the six months. It reached 342,673t, up from 334,597t in the same period last year. Cement production increased by 21.7 per cent to 384,229t, up from 315,836t in the 1HFY22-23. The company's total sales volume for the 1HFY23-24 increased by 22.8 per cent, reaching 382,188t as against 311,129t last year. The company's local sales volume for 1HFY23-24 increased by 27... |
Pakistan cement prices down in March12 March 2024, Published under Cement NewsCement prices in Pakistan have fallen in the opening week of March, according to the Pakistan Bureau of Statistics. The average retail price of a bag of cement in the northern regions of Pakistan came in at PKR1248 (US$4.47) in the first week of March, down 0.29 per cent from the average of PKR1251 seen in the previous week. Elsewhere in the country, average cement retail prices were reported as PKR1225/bag in Islamabad, PKR1215 in Rawalpindi, PKR1172 in Karachi, PKR1205 in Quetta and PKR... |
Maple Leaf Cement Factory diversifies into hospitals12 March 2024, Published under Cement NewsMaple Leaf Cement Factory Ltd informed the Pakistan Stock Exchange (PSX) about its investment in the hospital business on 10 March. The bourse filing said that Novacare Hospitals (Pvt) Ltd, a wholly-owned subsidiary of the company, will start constructing a state-of-the-art hospital in Islamabad and has signed an international affiliation agreement with Imperial College Healthcare NHS Trust, a leading UK teaching hospital group. The total investment in the project will be US$110m, and the ... |
A quarterly review of the Pakistan cement industry11 March 2024, Published under Cement NewsDue to many competing factors, Pakistan's cement industry will likely see lukewarm sales in 3QFY23-24 (January-March 2024). The holy month of Ramadan will begin on 11 or 12 March and may exhibit weak cement demand for about 30 days. According to AKD Research, industry sales in the current quarter (3QFY23-24) are expected to remain subdued owing to election activity, Ramadan, Eid festivities and inclement weather conditions. Meanwhile, for the full fiscal year, the analyst expects local sa... |
Dandot Cement Co re-fired its kiln in December11 March 2024, Published under Cement NewsAccording to the1HFY23-24 financial report of Dandot Cement Co Ltd r eleased recently, the company officially commenced operations by lighting up the kiln in December 2023 and is currently in the testing phase. Nevertheless, the net loss for the period is PKR124.81m (US$0.48m) (Dec 2022: PKR126.28m), as no production was reported during the period due to Balancing, Modernisation and Replacement (BMR) of the plant at Dandot RS in Jhelum district, Punjab province, Pakistan. Company’s plan... |
Pakistan cement industry exhibits record quarterly profit in 2QFY23-2408 March 2024, Published under Cement NewsPakistan's listed cement sector reported record earnings of PKR22.4bn (US$58.18m), up eight per cent YoY in the 2QFY23-24. This earnings growth is primarily due to higher gross margins and other income. Major contributors to the profitability of the cement sector in the 2QFY23-24 were Lucky Cement (LUCK), followed by Bestway Cement (BWCL) and Fauji Cement (FCCL), according to Topline Pakistan Research, Analysts believe these achievements were made despite a fall in cement dispatches. ... |
Pakistan International Bulk Terminal saw revenue surge by 38% in 1HFY23-2407 March 2024, Published under Cement NewsPakistan International Bulk Terminal Ltd (PIBTL) recently released its 1HFY23-24 (July-December 2023) report at the Pakistan Stock Exchange (PSX). During the period, the company earned a net profit of PKR1.056bn (US$3.78m) against incurring a loss of PKR232m in the same six months of the last fiscal year. This positive profit development was possible due to an increase in revenue to PKR8.07bn, up from PKR5.86bn during this period. The financial cost rose to PKR1.06bn and taxation also exp... |