Cement News tagged under: Pakistan
Calicom Industries applies to acquire Dandot Cement01 November 2018, Published under Cement NewsDandot Cement Co Ltd (DCCL) has informed Pakistan Stock Exchange that the company has received a firm intention from Calicom Industries (Pvt) Ltd, Lahore to its acquire control of DCCL and 63,542,787 voting shares (67 per cent of paid up capital) of DCCL beyond the thresholds prescribed under Section 111 of the Securities Act 2016 (the "Act"). This intention was notified to DCCL's board of directors on 31 October 2018, stated by Mr Muhamamd Kamran, Company Secretary to PSX. Calicom Ind... |
1QFY19 remains gloomy for cement industry in Pakistan01 November 2018, Published under Cement NewsPakistan's cement sector net earnings have dropped by 38 per cent YoY to PKR8.224bn (US$62m) in 1QFY19 on the back of a number of factors, including a surge in international coal prices (12 per cent YoY), the devaluation of the Pakistani rupee against the US dollar (18 per cent YoY) and higher fixed costs (depreciation and financial cost) on the account of plant expansion. This observation was made by market analysts at Karachi-based Spectrum Securities Ltd following their evaluati... |
Flying Cement 1QFY19 profits rise by 43%31 October 2018, Published under Cement NewsPakistan's Flying Cement Co Ltd (FCCL) announced its financial results for the 1QFY19 on 30 October. It posted an increase in profit to PKR3.02m (US$22,682), up by 42.62 per cent YoY, as compared to PKR2.12m reported in the same period last year. The increase in profit was possible due to a surge in quarterly sales, which rose by 56.5 per cent YoY to PKR850m from PKR543m reported during the same period last year. FCCL incurred lower administrative expenses of PKR10.77m and higher distri... |
Kohat Cement expansion works on schedule31 October 2018, Published under Cement NewsThe installation of Kohat Cement Co Ltd's new 7800tpd grey cement line is making good progress at the existing plant in the Khyber Pakhtunkhwa province, Pakistan, according to the company's directors' report. Almost 70 per cent of the plant has been shipped by the supplier. Civil and erection works are progressing as scheduled, the 1QFY19 reported added. Presently Kohat Cement has 2.8Mta of grey cement capacity and 150,000tpa of white cement. |
Gharibwal Cement's 1QFY18 profits fall to PKR269m30 October 2018, Published under Cement NewsGharibwal Cement Ltd (GCL) announced its financial results for the 1QFY19 on 29 October. It posted a decline in profit to PKR269m (US$20,194), down by 10.6 per cent YoY, as compared to PKR301m reported in the same period last year. GCL's sales during the quarter decreased by 7.9 per cent YoY to PKR2.47bn from PKR2.69bn reported during the same period last year. The company incurred lower administrative expenses of PKR98m and higher distribution costs of PKR9.3m compared to PKR99m ... |
Lucky Cement sees 9% turnover rise, 24% profit fall30 October 2018, Published under Cement NewsLucky Cement reported a 9.2 per cent rise in gross turnover for the quarter ended 30 September 2018 to PKR31.32bn (US$235.2m) from PKR28.68bn in the same quarter of the previous year. The Pakistani cement producer attributed the increase primarily due to higher sales volumes and an increase in federal excise duty and sales tax. The company reported a consolidated profit after tax of PKR3.16bn in the quarter, down 24.2 per cent YoY. In the year-ago period, profit after tax reached PKR4.17bn... |
CTP Team Srl wins two ESP to baghouse projects in Pakistan30 October 2018, Published under Cement NewsPakistan-based cement producers Popular Cement and Cherat Cement have chosen CTP Team Srl for the company's expertise in de-dusting and air filtration system to carry out emissions control projects at their cement plants. Popular Cement has chosen the Italian dedusting specialist to convert its ESP to a baghouse at its cement mill using European state-of-the-art technology, before resuming operations at the plant following a nine-year stoppage. Meanwhile, Cherat Cement needed to co... |
CMA meets with government Commerce and Industry advisor29 October 2018, Published under Cement NewsDuring a meeting on 27 October, Pakistan's Cement Industries Association (CMA) has informed the the country's Advisor to the Prime Minister on Textile, Commerce, Industry, Production and Investment, Abdul Razak Dawood, that Pakistani companies are exporting clinker by sea to Bangladesh, where clinker demand and prices have risen. "It's a good breathing space for Pakistani cement manufacturers to export our surplus clinker to Bangladesh and other parts of the world," said the CMA> Abdul R... |
Increased export revenue MoM and YoY for Pakistan producers in 3MFY1929 October 2018, Published under Cement NewsAccording to the Federal Bureau of Statistics, Pakistan's cement industry earned foreign exchange revenue of US$29.05m by exporting 671,913t of cement during September compared to US$27.57m on 617,745t of cement in previous month. This represents a MoM growth of 5.4 per cent and 8.8 per cent in terms of value and quantity, respectively. Compared to September 2017, earnings of US$17.76m on 359,766t of cement, it translates to a growth of 63.5 per cent in earning of foreign currency and 86.... |
Pioneer Cement sees profits fall by 38% in 1QFY1926 October 2018, Published under Cement NewsPioneer Cement Ltd (PCL) announced its financial results for the 1QFY19 on 25 October. It posted a profit fall to PKR257m (US$1.93m), down by 38.4 per cent YoY, as compared to PKR417m reported in the same period last year. According to PCL's notification to Pakistan Stock Exchange (PSX), company sales during the quarter increased by 2.5 per cent YoY to PKR3.23bn from PKR3.15bn reported during the same period last year. The company incurred higher distribution cost of PKR41m and admini... |