Cement News tagged under: Pakistan
Pioneer Cement appoints new CEO, posted loss during 1HY1903 March 2020, Published under Cement NewsPioneer Cement Ltd (PIOC) has announced its financial results for the half year ended 31 December 2019. It reported a loss after taxation of PKR111.66m (US$0.72m) compared to profit of PKR526.96m earned in corresponding period last year. The major factors for the loss were lesser revenue, fall in export of cement followed by paying of significant amount of federal excise duty. The company local sales slightly decreased by 2.8 per cent to PKR6.85bn from PKR7.05bn in the same period last yea... |
Flying Cement and Dandot Cement post losses during 1HY1902 March 2020, Published under Cement NewsPakistani cement companies have been declaring losses or fall in profit during the last six months of ongoing fiscal year of 2019-20 on account of falling revenue, high cost of sales and financing charges. Flying Cement Co reported a loss after taxation of PKR293.4m (US$1.9m) during the half-year ended 31 December 2019 compared to profit of PKR77.7m earned in corresponding period last year. The key factor in the loss is the high cost of sales and reduced revenue during this period. Compan... |
Fecto Cement posts loss in 1HY1902 March 2020, Published under Cement NewsFecto Cement Ltd has informed Pakistan Stock Exchange that it has posted a loss of PKR299m (US$1.48m) for the half year ended 31 December 2019 as compared to profit PKR105m, earned in the same period last year. The losses are attributed to a slide in net turnover, which decreased by 22.91 per cent to PKR1.91bn from PKR2.28bn in the same period last year. The company incurred a lesser administrative expenses and distribution costs of PKR121m and PKR62m against PKR143m and PKR102m, respectiv... |
Power Cement reports loss due to revenue fall in 1HY1928 February 2020, Published under Cement NewsPower Cement Ltd has announced its financial results for the half year ended 31 December 2019. It reported a loss after taxation of PKR365m (US$2.366m) compared to a profit of PKR9.7m in the corresponding period last year. The major factors responsible were reduced earnings and higher expenses together with expensive financing during this accounting period. The financing cost increased to PKR207m from PKR77m during this accounting period. The company sales decreased by 38 per cent to PKR1.2... |
Lesser sales hit profit of Kohat Cement in 1HFY19-2027 February 2020, Published under Cement NewsKohat Cement Co Ltd (KOHC) has reported a YoY drop of 93.6 per cent in profit for the half year ended 31 December 2019. It reported a profit after tax of PKR97m (US$0.62m) compared to PKR1.526bn in the corresponding period last year. The fall in profit is attributed to a decrease in sales, which fell by 28.2 per cent to PKR6.021bn during this period from PKR8.391bn in the year-ago period. It also reported a distribution cost of PKR30m against PKR43m in 1HFY19-20l, while administrative exp... |
Maple Leaf Cement posts loss despite increasing sales during 6MFY19-2026 February 2020, Published under Cement NewsPakistan-based Maple Leaf Cement Factory Ltd (MLCF) has announced its consolidated financial results for the half year ended 31 December 2019. It incurred a net loss of PKR1.76bn (US$11.41m) as compared to profit of PKR1.33bn earned in the same period last year. This shows YoY losses at 32.5 per cent. The major factors responsible for this fall were the increase in cost of sales and the huge finance cost. A local brokerage house while reviewing Maple Leaf financial results has pointed out ... |
Thatta Cement's profits slip in 1HY19-2025 February 2020, Published under Cement NewsPakistan's Thatta Cement Company Ltd (THCCL) has announced its consolidated financial results for the half year ended 31 December 2019. It posted a profit of PKR116m (US$0.75m), representing a 61.4 per cent fall YoY, as compared to PKR300m earned in the same period last year. The major factor responsible for this drop were lower sales and increased finance costs. THCCL's net sales during the reporting year decreased by 35.5 per cent to PKR1.50bn from PKR2.33bn during the same period last ... |
Gharibwal Cement posts loss in 1HY1925 February 2020, Published under Cement NewsGharibwal Cement Ltd (GWLC) of Pakistan has announced its financial results for the half year ended 31 December 2019. GWLC incurred a net loss of PKR245m (US$1.58m) as compared to a profit of PKR593m earned in the same period last year. The drop was attributed to the increase in cost of sales, selling and distribution expenses as well as a higher finance cost in the July-December 2019 period. The company sales also decreased by 6.2 per cent to PKR5.16bn from PKR5.51bn in the same period l... |
Dewan Cement profit succumbs to fall in sales in 1HY19-2025 February 2020, Published under Cement NewsDewan Cement Ltd (DCL) of Pakistan has announced its financial results for the half year ended 31 December 2019. It incurred a net loss of PKR172m (US$1.15m) as compared to profit of PKR328m earned in the same period last year. The losses can be attributed to a drastic fall in net sales and a modest increase in distribution cost and administrative expenses. The company's sales also decreased by 37.1 per cent to PKR4.04bn from PKR6.42bn in the same period last year. DCL incurred a higher dis... |
Railway and tax measures expected to impact Pakistan's cement sector24 February 2020, Published under Cement NewsThe development of a railway line from a coalfield in Thar, Sindh province, to link to the rest of country, the start of a cargo train to Afghanistan and government measures to trace cement dispatches are expected to impact indirectly on the progress of the cement industry in Pakistan. A 105km-long railway line will be laid from Chhor to Islamkot to transport coal from Thar coalfield to the port of Qasim and up-country. The railway line will also open the way for new coal, gas, urea and li... |