Cement News tagged under: Pakistan
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... |
Power Cement reports 11% fall in sales07 October 2019, Published under Cement NewsPakistan’s Power Cement Ltd has reported a 11.2 per cent decline in net sales to PKR3.85bn (US$24.5m) in the FY19 ended 30 June, falling from PKR4.34bn in the year-ago period. Gross profit was down 76.7 per cent YoY to PKR157.28m in the period. However, profit after tax increased 82 per cent to PKR582.1m from PKR319.9m. |
ABAD makes new appointments at AGM07 October 2019, Published under Cement NewsAssociation of Builders and Developers of Pakistan (ABAD), one of the top cement users in the country, made changes in its top office bearer for 2019-20 at its AGM last week. Patron-in-Chief of Allied Panel, Mohsin Sheikhani of Hina Housing Project (Pvt) Ltd, was unanimously elected as chairman of ABAD for 2019-20. Mr Sheikhani has twice served as ABAD chairman previously. Sohail Warind, Abdul Rehman and Muhammad Ali Ratadia were elected as senior vice chairman, vice chairman and chairman s... |
Pioneer Cement profit shrinks by 52% in FY1907 October 2019, Published under Cement NewsPioneer Cement Ltd (PIOC) of Pakistan has announced its financial results for the year ended 30 June 2019 today. It earned a net profit of PKR790m (US$5m) as compared to PKR1.644bn earned in the same period last year – falling by 52 per cent YoY. Sales declined from PKR10.12bn to PKR9.73bn during this accounting period. The drop in profit is reportedly due to increase in the cost of sales to PKR7.598bn from PKR7.310bn and an increase in finance cost from PKR94m to PKR270m during this report... |
Pioneer Cement records 4% fall in revenue04 October 2019, Published under Cement NewsPakistan’s Pioneer Cement has reported a 3.8 per cent fall in revenue to PKR9.73bn (US$62.07m) in the FY19, compared with PKR10.12bn in the year-ago period. Operating profit declined 30.9 per cent YoY to PKR1.59bn from PKR2.3bn, while profit after tax slipped 51.9 per cent to PKR790m. |