Cement News tagged under: Pakistan
Cement export from Pakistan shows mixed revenue in 1QFY2022 October 2019, Published under Cement NewsPakistan's cement industry earned foreign exchange revenue of US$66.77m by exporting 1.61Mt of cement between July and September 2019, compared to US$77.59m from exporting 1.78Mt of cement in same months last year, says the country's Federal Bureau of Statistics. This reflected a YoY fall of 13.9 per cent and 9.6 per cent in terms of value and quantity, respectively. However, in local currency terms, exports expanded by 9.4 per cent to PKR10.52bn (US$67.2m) during this period. In September ... |
Profitability of top six Pakistan producers remains under pressure in 1QFY2021 October 2019, Published under Cement NewsThe top six cement producers in Pakistan are likely to report a fall in profits and losses in 1QFY20 on the back of significantly build-up in cost pressures, weak domestic demand, infighting among northern-based producers, local taxation issue and axle load factors, says a report of a local research houses. Analyst expects that the IMS Cement Universe (comprising Lucky Cement, Maple Cement, Kohat Cement, DG Khan Cement, Fauji Cement and Cherat Cement) to post combined net loss after tax o... |
Pakistan's FDI continues to slide in 1QFY19-2018 October 2019, Published under Cement NewsPakistan has received net foreign direct investment (FDI) of US$542.1m in the July-September 2019 period, compared to US$559.4m, received in same months last year. This represents a fall of three per cent YoY, mainly due to lower inflow from China during this period. The drop trend in FDI also impacted investment in the construction and cement sectors in the country, according to a report of the State Bank of Pakistan. The breakdown shows cement attracted investment of US$12.2m and con... |
Bestway Cement’s profits sharply eroded in 1QFY1918 October 2019, Published under Cement NewsBestway Cement Ltd (BWCL) of Pakistan has announced its financial results for the 1QFY19, ended 30 September 2019. It declared a net profit of PKR300m (US$1.97m) against PKR2.257bn earned in the same period last year. It shows 1Q profit plummeted by 86.7 per cent YoY. The fall in profit is reportedly due to a dip in the company's sales and a modest increase in finance costs as shown in the financial results sent to the Pakistan Stock Exchange. BWCL's sales stood at PKR15.47bn in July-Septem... |
Attock Cement profit falls 16% in 1QFY19-2015 October 2019, Published under Cement NewsAttock Cement Pakistan Ltd (ACPL) of Pakistan has announced its financial results for the first quarter ended 30 September 2019. It declared a net profit of PKR357m (US$2.3m), against PKR423m earned in the same period last year. It shows profit dropped by 15.5 per cent due to a fall in revenue, which stood at PKR4.96bn from PKR5.68bn during this period. Other factors that led to the profit fall were the increase in distribution cost, administrative expenses and finance cost, says a notific... |
Fauji Cement appoints new non-executive director11 October 2019, Published under Cement NewsPakistan’s Fauji Cement Co Ltd has announced the appointment of Wasim Sadiq as non-executive director of the company, with effect from 1 October 2019. Mr Sadiq has replaced Muhammed Amir Khan in this role, according to the company’s statement to the stock exchange. |
Power Cement to become No 2 in south Pakistan09 October 2019, Published under Cement NewsPower Cement Ltd (PCL) is set to complete the brownfield expansion at its existing production site by adding a new line of 7700tpd (2.5Mta), taking the plant’s total capacity to around 3.4Mta. The project is currently in its testing phase and commissioning will start in 2020. Once online, the project will make the company the second-largest cement producer in southern Pakistan. The expansion project is meets IFC and World Bank environmental standards and is one of the most cost-efficient ... |
Pakistan's exports to India fall 41% in FY1908 October 2019, Published under Cement NewsPakistan’s cement exports to India fell 41 per cent to 0.716Mt in the FY19 ended 30 June, with no exports to the country taking place between March-September. The decline is the result of a 200 per cent duty set by the Indian government, according to The Daily Times. Furthermore, revenue from overall exports declined 13.2 per cent YoY to US$42.15m in the first two months of the current fiscal year. |
Flying Cement profits recede in FY1908 October 2019, Published under Cement NewsFlying Cement Company Ltd (FCCL) of Pakistan has announced its financial results for FY19. It declared a net profit of PKR142.36m (US$0.9m) against PKR181.5m earned in the same period last year. FCCL showed a profit dropped by 21.6 per cent. The fall in profit is reportedly due to increase in the cost of sale to PKR3bn from PKR2.6bn during this period, despite increase in sale. The company sales stood at PKR3.2bn compared to PKR2.9bn in the same accounting period last year. The distribut... |
Gharibwal Cement 51% profit fall in FY18-1907 October 2019, Published under Cement NewsGharibwal Cement Ltd (GWLC) has released its financial results for the year ended 30 June 2019. The company earned a net profit of PKR736m (US$6.7m) as compared to PKR1.509bn earned in the same period last year, which decreased by 51.2 per cent. The fall in profit has been attributed to a decline in sales and an increase in finance expense. According to company results, sales decreased by three per cent to PKR11.35bn YoY, as compared to PKR11.70bn in the same period last year. Administrat... |