Cement News tagged under: Pakistan
Fauji Cement's profit increases by 43.88% in 1HFY1920 February 2019, Published under Cement NewsFauji Cement Co Ltd (FCCL) has announced its financial results for the half year ended 31 December 2018, by declaring of net profit for the period of PKR1.82bn (US$13m), increased by 43.88 per cent YoY, as compared to PKR1.26bn in the same period last year. Net sales of FCCL during the half year increased at of PKR10.431 bn from PKR10.268 bn, up by two per cent during this period. It incurred a distribution cost of PKR120m against PKR119m in the same period last year. The administrative ex... |
Exports from Pakistan during 7MFY19 improve19 February 2019, Published under Cement NewsThe Pakistan cement industry is facing a domestic drop in cement demand, but export data for 7MFY19 show overseas sales have been strong. Experts believe that with domestic demand experiencing a dip, cement manufacturers have been selling off their surplus inventory to regional markets perhaps with a cut to their margins. Pakistan's cement industry received foreign exchange revenue of US$27.34m by exporting 655,317t of cement during the month of January 2019, compared to US$25.89m at 624,... |
Saudi Arabia to invest US$20bn in Pakistan19 February 2019, Published under Cement NewsSaudi Crown Prince Mohammad bin Salman is investing US$20bn under phase one in Pakistan for number of projects in energy, petrochemicals, minerals, tourism and other projects. The crown prince, who is visiting Pakistan for two days on the invitation of Prime Minister Khan, was accorded a red carpet welcome and presented a guard of honour at the Prime Minister's House. Both government have signed number of MoUs to pave the way for mutual development of projects in future. Expert belie... |
Cement production falls on MoM and YoY basis during 6MFY1918 February 2019, Published under Cement NewsPakistan Bureau of Statistics (PBS) has released numbers of quantum index of the Large Scale Manufacturing Industries (LSMI) for 6MFY18-19. The overall output of LSMI fell by 1.5 per cent for July-December 2018 compared to July-December 2017. Similarly, the LSMI output decreased by 10.2 per cent for December 2018 compared to December 2017 and increased by 2.5 per cent if compared to November 2018. Production in July-December 2018 as compared to July-December 2017 has significantly decreas... |
Pakistan exports of cement to India expected to fall18 February 2019, Published under Cement NewsPakistan cement exports to India are likely to be affected following the Indian government's announcement to scrap the 'Most-Favoured Nation' status to Pakistan, after an attack on Indian forces in Pulwama , Jammu and Kashmir, India, recently. According to Al Habib Capital Markets, Pakistan's cement exports are expected to suffer most due to this unwanted tension between India and Pakistan. During 7MFY19 Pakistan's total cement exports stood at ~2.876Mt, up four per cent, YoY, of which c... |
Cherat Cement records PKR1.02bn net profit in 1HFY18-1914 February 2019, Published under Cement NewsCherat Cement Company Ltd (CCCL) has announced its financial results for the half year ended 31 December 2018. CCCL declared a net profit of PKR1.02bn (US$7.29m), down by 23.9 per cent YoY, as compared to PKR 1.349bn earned in the same period last year. CCCL's Executive Director and Company Secretary, Abid Vazir, said the company's net sales during the 1HFY18-19 fell to PKR7.032bn from PKR 7.585bn during the first six months of FY17-18. It incurred a higher distribution cost of PK... |
Experts list reasons for Pakistan's cement slowdown in 7MFY1908 February 2019, Published under Cement NewsThe Pakistan cement industry recorded a negative growth on domestic dispatches during the month of January 2019. As per APCMA data, local cement sales for the month came in at 3.1Mt, down a sharp 18 per cent YoY. According to Intermarket Securities, the slowdown in local cement dispatches has been in place since elections and appears to be gathering pace. This could be attributable to lower PSDP disbursements, a more challenging macroeconomic environment and legal challenges on major priv... |
Thatta Cement makes changes in management08 February 2019, Published under Cement NewsThatta Cement Co Ltd (TCCL) informed Pakistan Stock Exchange (PSX) earlier this week that it has made some changes in top management. The company has appointed Noor Mohammad as Director with effect from 4 February 2019 in place of Shahzad Sabir and also appointed Muhammad Abid Khan as Company Secretary with effect from 4 February 2019 in place of Shahid Yaqoob. |
APCMA releases dispatch data for January and 7MFY1907 February 2019, Published under Cement NewsThe Pakistan cement sector posted a double-digit decline of 10.7 per cent in the month of January compared with corresponding month last year, raising alarm bells among producers with a large production capacity, reports the All Pakistan Cement Manufacturers Association (APCMA). The cement industry dispatched 3.646Mt in January 2019 against 4.083Mt in January 2018, says APCMA. The buoyancy in exports stayed on course, increasing by a healthy 67.3 per cent. The industry exported 0.579Mt o... |
Thatta Cement earns PKR300m in 1HFY1906 February 2019, Published under Cement NewsThatta Cement Co Ltd (TCCL) announced its financial results for the half year ended 31 December 2018 with consolidated earnings at PKR300m (US$2.1m), down by 6.54 per cent YoY, as compared to PKR321m reported in the same period last year. According to TCCL's notification to Pakistan Stock Exchange (PSX) on 6 February, company sales during the half year period increased by 34.54 per cent YoY to PKR2.33bn as compared to PKR1.73bn during the same period last year. The company incurred high... |