Cement News tagged under: Pakistan
Lucky Cement profit squeezes in FY1930 July 2019, Published under Cement NewsLucky Cement Ltd informed the Pakistan Stock Exchange (PSX) on 29 July that its net profit after tax during FY19 stood at PKR10.5bn (US$65.16m), down 14 per cent YoY. The results were accompanied by a cash dividend of PKR6.5/share. The company overall sales volume declined by 1.8 per cent to reach 7.67Mt during the current fiscal year. The local cement sales volume registered a decline of 11.7 per cent and totalled 5.85Mt in comparison to 6.63Mt last year. However, the export volumes impr... |
Attock Cement profit falls in FY1930 July 2019, Published under Cement NewsAttock Cement Pakistan Ltd (ACPL) has announced its FY19 results, reporting a net profit after tax fall to PKR2.073bn (US$12.86m) from PKR4.4bn in FY18, down 53 per cent on YoY. Along with the result, ACPL also announced a final cash dividend of PKR4/share. The topline of the company grew 26 per cent YoY during FY19 to PKR 20.781bn, led by 29 per cent YoY growth in sales volume (mainly exports), a research house commented. However, financial charges of the company swelled significantly by... |
Askari seeks minning lease approval26 July 2019, Published under Cement NewsAskari Cement Ltd (ACL) has submitted an application to Environmental Protection Agency (EPA), Government of Punjab to seek environment approval under section 12 Punjab Environment Protection Act 1997 for mining of limestone at Wah and Hassan Abdal, Rawalpindi Attock district in Punjab province, Pakistan. According to a public notification, Environmental Protection Agency (EPA), the Government of Punjab has invited comments from all stakeholders and the general public for their comments... |
Pakistan's cement exports rise but fall MoM in FY1923 July 2019, Published under Cement NewsPakistan's cement industry recorded a growth of 21.9 per cent in earning of foreign exchange revenue, 40.4 per cent in terms of quantity and 49.7 per cent in terms of Pakistani rupee earnings from cement exports in the FY18-19, according to Pakistan's Bureau of Statistics (PBS). The government official data says that export revenue for the first 12 months of the current July 2018-June 2019 stood at US$271.72m by exporting 6.4Mt of cement and clinker during compared to US$222.84m at 4.56Mt ... |
Mixed dispatches expected for Pakistan's cement sector in FY1919 July 2019, Published under Cement NewsPakistan's cement industry is likely to report mixed dispatches data for FY19. According to a sector research report released by Topline Securities, domestic dispatches will drop by three per cent, while total dispatches will increase one per cent in FY19 with the sales mix shifting in favour of overseas exports by southern players. Cumulatively, exports are expected to increase 37 per cent with cross-border exports (Afghanistan and India) falling by 19 per cent while seaborne exports are... |
Pakistan attracts lesser FDI in FY1918 July 2019, Published under Cement NewsPakistan received a net foreign direct investment (FDI) of US$1.737bn in last financial year, FY18-19 compared to US$3.471bn in July-June 2017-18. This translates a fall of 50 per cent foreign direct investment in the country industrial sector, including construction and cements industry, says a report of State Bank of Pakistan (SBP). A breakdown of SBP data shows that the net total FDI in the cement and construction sectors decreased 38.9 per cent YoY in the 12-month period. Out of th... |
Pakistan cement distributors to decide action plan17 July 2019, Published under Cement NewsDispatches from cement plants are still facing unrest in Pakistan. The government's new tax policy has been opposed and has led to continue the continued protests since 1 July. The All Pakistan Cement Distributors Association (APCDA) has supported the action following the government's introduction of new tax measures in the federal budget 2019-20. To move forward, APCDA has called a of the association's general body today to discuss all tax-related matters, ie withholding tax and different... |
Pakistan's State Bank releases 3QFY19 cement report16 July 2019, Published under Cement NewsThe State Bank of Pakistan's third quarterly report on the state of the country's economy shows the pace of economic growth slowed down considerably during FY19. This was mainly in response to the policy measures taken to curb the twin deficits. These measures affected the performance of the industrial sector and dampened manufacturing activities in the country. According to the report, cement production recorded contraction of 5.4 per cent during July-March FY19, compared to double-digit ... |
Bestway Cement wins Annual Environmental Excellence Award 201916 July 2019, Published under Cement NewsBestway Cement Ltd (BCL) has won the16th Annual Environment Excellence Awards 2019 for its vision and effective implementation of environmentally-friendly policies at all of its four plants in Hattar, Farooqia, Chakwal and Kallar Kahar, Pakistan. The event was organised last week in Karachi by the National Forum for Environment and Health (NFEH). Bestway is a pioneer in establishing Pakistan’s first waste heat recovery power plant (WHRPP) at a cost of US$47m. It is one of the few companies... |
Lucky Cement wins Environment Excellence Award 201911 July 2019, Published under Cement NewsLucky Cement Ltd won the Environment Excellence Award at the 16th Annual Environment Excellence Awards 2019, organised by The National Forum of Environment and Health (NFEH). The award ceremony was held at a local hotel on 9 July 2019. Lucky Cement received the award in recognition to its commitment towards energy conservation and contribution towards protecting the overall environment for a greener Pakistan. The Annual Environment Excellence Awards are the benchmark for environmental stan... |