Cement News tagged under: Pakistan

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Cherat Cement Pakistan profits up by 50%

31 October 2017, Published under Cement News

Cherat Cement (CHCC) of Pakistan has announced 1QFY18 net profit after tax of PKR606m (US$5.75m), up 50 per cent YoY.   The company net sales grew by 33 per cent YoY to PKR 3.891bn. It incurred distribution expenses of PKR81m and administrative expenses of PKR57m compared with PKR63m and PKR50m, respectively in 1QFY17.   Along with result, CHCC announced the installation of a 10MW WHR system on Line III. The plant is expected to cost PKR1.2bn and would commence operations right afte...

Lucky Cement profits grow by 6.8% in 1QFY18

30 October 2017, Published under Cement News

Pakistan-based Lucky Cement Co Ltd reported 1QFY18 earnings of net profit of PKR3.01bn (US$28.5m), up by 6.8 per cent YoY.   The company's revenue increased six per cent YoY to PKR11.2bn. This growth was primarily attributable to a rise in total dispatches YoY.   The company achieved an overall growth of 5.9 per cent with a total sales volume of 1.8Mt during the first quarter compared to 1.7Mt last year. While the cement producer's local sales volume saw a growth of 14.3 per cent to 1.54...

Maple Leaf reports growth in 1QFY18

26 October 2017, Published under Cement News

Maple Leaf Cement Factory Ltd (MLCF) has reported that during 1QFY18 its profit after tax (PAT) stood at PKR1.05bn (US$9.9m), showing a growth of 47 per cent on QoQ basis.   MLCF incurred selling and distribution expense of PKR266m and administrative expense of PKR150m during this quarter against PKR373m and PKR122m incurred respectively in 1QFY17.

Pakistan cement export revenue continues to fall in 1QFY17

26 October 2017, Published under Cement News

The export revenue of cement from Pakistan during the first three months of current financial year (July to September 2017) recorded a YoY fall of 17.84 per cent and 18.89 per cent in terms of quantity and value in dollars, respectively, according to data released by Federal Bureau of Statistics, Government of Pakistan. The breakdown during the period shows that country exported 1.22Mt of cement and earned export revenue of US$62.69m, compared to 1.48Mt at US$77.29m from July to September ...

Fauji cement reopens Line 2

24 October 2017, Published under Cement News

Fauji Cement Company Ltd (FCCL) has informed the Pakistan Stock Exchange (PSX) that: "Rehabilitation works on Line 2 of 7200tpd have been completed. Line 2 was made operational on 15 October 2017 and production of clinker commenced on 22 October 2017 at an enhanced capacity of 7600tpd."   Local experts believe that this step will help normalise gross margins of FCCL effective 2QFY18 and beyond. Line 2 was expected to return to operations at the end of this month, according to an ear...

Cement prices fall in Pakistan's northern zone

20 October 2017, Published under Cement News

Competition among the cement players, particularly in Pakistan's northern zone, and seasonal fall in demand have triggered a cement price discount. BMA Capital states that cement prices in the north have fallen by another PKR10-15/bag (US$0.09-0.14) since mid-October 2017. The new retail price range now hovers around PKR460-500/bag, while the list price still remains at PKR510-520/bag, reflecting discounts of PKR20-50/bag. On the other hand, prices in the south remain stable ranging f...

Attock Cement Pakistan reports fall in profits

20 October 2017, Published under Cement News

Attock Cement Pakistan Ltd (ACPL) announced its 1QFY18 financial result, which saw it post earnings before tax of PKR604m (US$5.7m) against PKR690m reported in 1QFY17. This reflects a fall in profit of 12.46 per cent. Revenue of the company witnessed a healthy growth of seven per cent YoY to PKR3.6bn, primarily on the back of growth in total dispatches and stable domestic cement prices. According to a company notification to Pakistan Stock Exchange today, no bonus share or di...

DG Khan raises profits by 49% in 1QFY18

19 October 2017, Published under Cement News

DG Khan Cement Factory Ltd (DGKC) announced its 1QFY18 financial results on 18 October, posting a profit after tax of PKR2.83bn (US$26.8m) against PKR1.9bn earned in the corresponding quarter a year ago. This translates a growth of 49 per cent in profit on YoY basis, according to the company's notification to Pakistan Stock Exchange. Revenue rose to PKR7.5bn, up by 14 per cent YoY, primarily due to higher local dispatches. The company incurred administrative expense of PKR149m, and selling ...

Pakistan Prime Minster Abbasi inaugurates PIBTL terminal at Port Qasim

16 October 2017, Published under Cement News

Pakistan’s Prime Minister, Shahid Khaqan Abbasi, has inaugurated Pakistan’s first state-of-the-art mechanised, coal, clinker and cement bulk cargo handling terminal, Pakistan International Bulk Terminal Ltd (PIBTL), at Port Qasim, 55km from Karachi. Prime Minister, Shahid Khaqan Abbasi, has appreciated Captain Haleem Siddiqui, chairman of Marine Group of Companies, and his team for making the much-needed investment in a sector crucial for national development and added: "It is also all ...

Pakistan International Bulk Terminal set for launch

11 October 2017, Published under Cement News

Everything is set for the formal inauguration of Pakistan’s first state-of-the-art mechanised coal, clinker and cement bulk cargo terminal, Pakistan International Bulk Terminal, located at Port Qasim near Karachi on 14 October. The country's Federal Minister for Port and Shipping, Mir Hasil Khan Bizenjo, and other top government officials are expected to take part in the inauguration.  The terminal had commenced its hot commissioning to become fully operational earlier this year and a...