Cement News tagged under: Pakistan

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Kohat Cement's full-year profits fall 16%

20 September 2018, Published under Cement News

Kohat Cement Company Ltd (KCCL) has informed the Pakistan Stock Exchange (PSX) on 19 September that its full-year net profit for 2018 was down by 16 per cent to PKR2.98bn (US$24.1m) YoY. The company's local and export sales also contracted by one per cent to PKR13.43bn. The market attributes fall in profit to a 21 per cent YoY rise in coal prices with an average rupee depreciation of five per cent during this period and a 50 per cent rise in fuel oil prices. KCCL incurred selling and dis...

Maple Leaf Cement profit down 4%

19 September 2018, Published under Cement News

Pakistan’s Maple Leaf Cement has reported a 4.2 per cent YoY fall in its profit after tax for the year ended 30 June 2018. Profit for the period came in at PKR4.572bn (US$37.1m) with earnings per share of PKR7.92. Sales for the year improved by 7.5 per cent to reach PKR25.684bn, compared to PKR23.885bn in the year-ago period. However, the cost of sales surged by 25 per cent YoY due to rising coal prices. Gross profit was down 21 per cent YoY, according to Reuters. The company declared an int...

Pakistan's cement industry faces additional challenges

18 September 2018, Published under Cement News

 Pakistan's Finance Minister and chair to the Economic Coordination Committee (ECC), Asad Umar, has announced an increase in gas tariffs for all industrial sectors from 10 to 143 per cent, to take effect from October. The ECC approved a rise in gas prices for a range of sectors, including the cement industry, which is expected to see the cost of gas rise by 30 per cent from PKR750/mmBtu (US$6.05/mmBtu) to PKR975/mmBtu. In addition, it is expected that Mr Umar will present a 'mini-budge...

Thatta Cement reports 22% drop in net sales for FY17-18

14 September 2018, Published under Cement News

Pakistan’s Thatta Cement has recorded a 22.3 per cent YoY fall in net sales to PKR2.84bn (US$23.03m) for the FY17-18 period, ended 30 June 2018. Operating profit decreased 38.4 per cent to PKR563.2m (FY16-17: PKR913.69m), while net profit slipped 38.7 per cent to PKR356.86m (FY16-17: PKR581.99m). Consolidated net sales saw a minor decline of 0.8 per cent to PKR3.79bn, compared with PKR3.82bn of the FY16-17. Consolidated operating profit was down 10.5 per cent YoY to PKR987.63m. However, ne...

Pakistan exports hit Punjab and Himachal plants

13 September 2018, Published under Cement News

Cement plants in Himachal Pradesh and Punjab, India, have called for 11 per cent duty on imports from Pakistan as they see capacity utilisation levels fall to 75 per cent. They have also suggested capping of entry points and ports for cement imports into India as additional safeguards against cement dumping from Pakistan. Of a total cement demand of 8Mta in Punjab, imports are now as high as 1.5Mta, rising by 24 per cent YoY in the quarter ended March 2018. The majority of imports are from ...

Pakistan's cement dispatches fall in August

06 September 2018, Published under Cement News

Pakistan cement's industry saw a fall in total dispatches in August 2018, dropping 8.3 per cent YoY to 3.452Mt from 3.76Mt in August 2017. This runs counter to the strong month of July when a growth of 5.1 per cent was recorded. The breakdown of data, as provided by All Pakistan Cement Manufacturers' Association (APCMA), indicates that domestic cement dispatches in Pakistan reached 2.895Mt in August, including 2.326Mt  delivered by mills located in the northern part of the country ...

Power Cement secures investment for plant upgrade

05 September 2018, Published under Cement News

Arif Habib Corporation Ltd (AHCL) has called extra ordinary general meeting on 26 September to make an additional investment of US$11m in Power Cement Ltd (PCL), an associated undertaking of the corporation. PCL aims to install components/machinery to make its plant more energy efficient, according to a notification on the Pakistan Stock Exchange (PSX) on 4 September . This guarantee amount by AHCL will enable PCL to negotiate a better deal with the potential supplier as AHCL will ens...

Large housing scheme to raise Pakistan's cement demand

04 September 2018, Published under Cement News

Pakistan's Prime Minister, Imran Khan, has chaired a meeting on construction of the '05 Million Housing programme' for of low-cost/affordable housing. The meeting was attended by Yaqoob Izahar, Najeeb Haroon, Arshad Dad, Secretary Housing & Works Dr Imran Zeb Khan, Secretary Law M Justice (R) Abdul Shakoor Paracha and other senior officers. The Prime Minister said that construction of low-cost and affordable '05 Million Houses' is the foremost priority of the government which would not onl...

Cherat Cement’s FY18 profit increases by 9%

30 August 2018, Published under Cement News

Cherat Cement Co Ltd (CHCC) of Pakistan earned a net profit of PKR2.13bn (US$17.3m) in FY18, up by nine per cent YoY, as compared to PKR1.96bn in the same period last year. Net sales grew substantially by 49 per cent YoY to PKR14.39bn largely driven by full year operations of production line II, inaugurated in January 2017. This was despite the industry's failure to pass over enhanced FED, up by 25 per cent YoY during the year due to intense competition therein, an analyst observed. The...

Fauji Cement's net profits rise 31 per cent in 4Q18

28 August 2018, Published under Cement News

Fauji Cement Company Ltd (FCCL) announced its financial results for the year ended 30 June 2018 on 27 August. Its net profits were up by 31 per cent YoY to PKR3.429bn (US$27.8m). This was possible due to a positive tax reversal in 4Q18 and rehabilitation of cement line II. FCCL recorded 10 per cent YoY growth in local and export dispatches, partly due to resumption of normal operations post rehabilitation. FCCL net sales increased to PKR21.16bn from PKR20.42bn during this period. The com...