Cement News tagged under: Pakistan

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Pakistan exports fall in 7MFY17-18

23 February 2018, Published under Cement News

Pakistani cement exports during the first seven months of current financial year, July 2017-January 2018, recorded a fall of 15.4 per cent in volume and 18.7 per cent by value in dollars, says data released by Pakistan's Federal Bureau of Statistics. Pakistan exported 2.71Mt of cement and earned export revenue of US$136.46m between July 2017-January 2018, compared to 3.21Mt at US$167.9m in corresponding months of last fiscal year. Volumes fell by 15.4 per cent and in terms of doll...

Fecto Cement plans greenfield project

23 February 2018, Published under Cement News

Pakistan-based Fecto Cement Ltd has announced plans to construct a 6000tpd greenfield plant and a 9MW waste heat recovery (WHR) power plant in Palai, Khyber Pakhtunkhwa. The decision to expand was undertaken following the receipt of an exploration licence for limestone mining and to meet the growth in cement demand. Elsewhere the company modified its Sangjani plant by replacing coal dosing equipment and the motors of both induced draught fans, which increased clinker production to 2760tpd...

Bestway Cement announces 13% net profit fall

22 February 2018, Published under Cement News

Pakistan’s Bestway Cement Ltd has announced a net profit of PKR6.19bn (US$55.9m) in the 1HFY18 period, representing a 12.8 per cent fall from the year-ago period. The decrease in profit has been attributed to the rising cost of sales. While net sale increased to PKR38.44bn from PKR35.35bn, costs also advanced to PKR16.55bn (1HFY17: PKR14.03bn). The company reported an administrative expense of PKR1.15bn, compared to PKR1.13bn of the 1HFY17.

Pioneer Cement reports 1HFY18 profit fall

21 February 2018, Published under Cement News

Pioneer Cement Ltd has announced that its net profit for the period 1HFY18 fell by 51 per cent to PKR737m (US$6.6m). T his was reportedly due to a decrease in sale, increase in cost of sales as well as higher in distribution and administrative expenses. The financing cost has also increased to PKR49m from PKR2.5m. The company's net sales fell from PKR5.19bn to PKR4.89bn, whereas, cost of sale increased to PKR3.4bn from PKR3.07bn during this period. No dividends were announced by the comp...

Fauji Cement of Pakistan reports falls in profit of 6MFY17-18

20 February 2018, Published under Cement News

Fauji Cement (FCCL) has announced its July-Dec 2017 results with net profit for the period falling to PKR1.26bn (US$11.3m) from PKR1.3bn (US$11.7m), earned in corresponding month of last fiscal year. This translates to a fall in profit of 2.7 per cent on a YoY basis. Experts say the profit falls are due to the increased costs of sale and distribution. According to a company bourse filing, its sales were up by 0.8 per cent to PKR10.26 bn in 6MFY17-18. The company incurred a distribution c...

Pakistan's cement production grows 10% in 6MFY17-18

19 February 2018, Published under Cement News

The latest data on Pakistan's Large Scale Manufacturing Sector (LSMS), released by the Federal Bureau of Statistics, shows overall growth of 5.5 per cent during the first six months ie, July-Dec 2017 compared with the same period of last year.  The government and industry officials' attribute the growth in the overall manufacturing sector largely to an increase in local demand of products including cement, which is growing on the back of strong domestic dispatches. According...

Maple Leaf Cement profit falls in 6MFY17-18

16 February 2018, Published under Cement News

Maple Leaf Cement Factory Ltd (MLCF) announced its half-year financial result for the period ended 31 December 2017 today. It reported earnings o f a profit after tax of PKR2.24bn (US$20.2m) compared to PKR2.62bn (US$23.6m) earned in corresponding period last year showing a fall of 14.50 per cent on YoY basis. According to financial result sent to Pakistan Stock Exchange (PSX), the company also announced an interim cash dividend of PKR1.50/share. Its net sales increased to PKR12.27bn d...

Thatta Cement's profit falls

13 February 2018, Published under Cement News

Thatta Cement Co Ltd's (TCCL) financial results for the half year ended 31 December 2017 saw a profit after tax PKR321.66m (US$2.9m), compared to PKR405.79m earned in corresponding period last year – showing a fall of 20.7 per cent in profit on YoY basis. The company's net sales stood at PKR1.73bn compared to PKR1.77bn in 6MFY16. It incurred a distribution cost of PKR35.43m against PKR45.49m in 6MFY16. Its administrative expenses stood at PKR70.50m compared to PKR69.83m corresponding pe...

Cherat Cement's 1H profits up 32%

09 February 2018, Published under Cement News

Cherat Cement (CHCC) announced earnings of net profit after tax of PKR1.34bn (US$12.1m) for the July-Dec 2017 period against PKR1.02bn in the corresponding period last year, showing a YoY growth of 31.6 per cent. The company also announced in a bourse filing an interim cash dividend of PKR1/share. The company's net sales increased from PKR4.08bn to PKR7.58bn during the period. Cherat Cement incurred a distribution cost of PKR165m and administrative expenses of PKR119m compared to PK...

Dewan Cement strikes deal with Mega Conglomerate

08 February 2018, Published under Cement News

Mega Conglomerate Pvt Ltd has agreed to acquire a 87.5 per cent stake in Pakistan’s Dewan Cement, according to a bourse filing by BMA Capital Management Ltd. The acquisition will see 75 per cent shares pass hands through agreement and a further 12.5 per cent through a public offering. The deal follows a week of roller coaster movements, according to Pakistan Today. The amount of the acquisition was not disclosed.