Cement News tagged under: Pakistan
Pakistan's cement industry likely to grow at average rate of 5%24 February 2020, Published under Cement NewsPakistan's cement industry is likely to grow at an average rate of five per cent in coming 4-5 years, anticipates by local research house. Analysts assumed local cement dispatches at 41.77Mt and export sales at 8.03Mt in FY20 with total cement dispatches due to grow by 3-6 per cent annually during FY22-25. Historically cement sector has performed exceptionally well by posting a five-year CAGR of 10 per cent (FY14-FY18) in high margin domestic sales. However, FY19 saw the trend reversing on... |
Fauji Cement reports shrinkage in profit for 1HY1921 February 2020, Published under Cement NewsCement players in Pakistan continue to report losses due to increase in cost of sales and finance charges during first half of the current financial year 2019-20. Fauji Cement continued this trend reporting financial losses today. Fauji Cement Co Ltd (FCCL) announced its financial results for the half year ended 31 December 2019 with a net profit of PKR482.18m (US$3.13m), which decreased by 73.6 per cent YoY, as compared to PKR1.82bn in the same period last year. The fall in profit was attr... |
Profit of Bestway Cement falls in 1HY1920 February 2020, Published under Cement NewsBestway Cement Ltd (BWCL) announced its financial results for the half year ended 31 December 2019. According to financial results sent to Pakistan Stock Exchange (PSX), today, the company declared earning of net profit of PKR421m (US$2.73m), which was decreased by 94 per cent YoY, as compared to PKR6.88bn in the same period last year. The major reasons can be attributed were the high cost of financing and fall in gross turnover during this period. BWCL's net sales decreased by 17.7 per ce... |
IMO 2020 rules – likely to be blessings for cement industry in Pakistan20 February 2020, Published under Cement NewsPakistan's cement industry is likely benefit from competitive furnace oil instead of the more costly re-gasified liquefied natural gs (RLNG) for power generation, if it is allowed in the backdrop of IMO 2020 rules, which discourages use of high-sulphur fuel oil in shipping industry. According to a report of local research house, furnace oil (FO) prices is experiencing downward trend due to IMO 2020 – that has come into effect recently – and that requires tougher regulations on sulphur emi... |
FDI grows in Pakistan but cement and construction sectors lag behind19 February 2020, Published under Cement NewsPakistan received a net total foreign direct investment (FDI) of US$1.563bn during first seven months of FY19-20 (July 2019 - January 2020) compared to US$943.6m in the comparative period of a year earlier. This represents an increase of 65.70 per cent YoY, mainly due to a high inflow of investment from China, Norway, Japan, Malta, South Korea and other countries in all sectors, according to the State Bank of Pakistan. However, the increasing FDI trend has not been evidenced in the country'... |
Pakistan's first-half cement production increases17 February 2020, Published under Cement NewsPakistan cement output increased in the first six months of the current fiscal year, according to data released by Pakistan’s Federal Bureau of Statistics (PBS). Latest figures for the country's large-scale manufacturing industries (LSMI) for the July-December 2019 period (1HFY19-20) shows that overall output fell by 3.35 per cent YoY. However, more encouragingly, LSMI output in December 2019 increased by 9.66 per cent on a YoY basis, and by 16.4 per cent on a MoM basis. Experts belie... |
Axle load limit likely to hit Pakistan cement industry17 February 2020, Published under Cement NewsDispatches of cement, clinker and other raw materials to and from factories in Pakistan via local transporters is expected to become more costly after the implementation of the NHSO 2000 axle load limit on carriers from 17 February, says an official announcement from the All Pakistan Goods Transports Owners Association. The policy will ultimately increase the cost of sales and transportation for cement industry in Pakistan, experts have observed. The export of cement/clinker will al... |
DG Khan Cement profit falls 51% in the 1HFY19-2014 February 2020, Published under Cement NewsDG Khan Cement Co (DGKC) has announced its financial results for the half-year period ended 31 December 2019, reporting a 43 per cent fall in profit to PKR946m (US$6.1m). The major factor responsible for the decline was the increased cost of sales and taxation, despite little improvement in sales. The company's financial charges surged by 83 per cent YoY amid high interest rates. Net sales during the reporting year slightly increased by 5.7 per cent to PKR20.88bn from PKR19.76bn during the... |
PIBTL earns profit in 1HFY19-2014 February 2020, Published under Cement NewsPakistan International Bulk Terminal Ltd (PIBTL) has announced its financial results for the half-year period ended 31 December 2019, declaring earning of net profit of PKR864m (US$5.6m) against a net loss of PKR 1.46bn in the same period last year. Its net sales during the reporting period increased by 42 per cent to PKR4.84bn from PKR3.142bn during the same period last year. The administrative and general expenses slightly increased from PKR203m to PKR217m during this accounting period... |
Cherat Cement profits hit by high cost of sales in 1HFY2012 February 2020, Published under Cement NewsCherat Cement Co Ltd (CHCC) of Pakistan has announced its financial result for 1HFY20 through Pakistan Stock Exchange (PSX) on 12 February 2020. It posted a loss after tax (LAT) of PKR560.1m (US$3.63m) during the first six months of FY20, against a profit after tax of PKR1.02bn earned during the same period last year. The high cost of sales and financing component impacted the company's bottom line. Although the net sales of company increased to PKR9.5bn from PKR 7.03bn, cost of sales rose ... |