Cement News tagged under: Pakistan

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Pakistan cement exports record positive trend in 3MFY21

19 October 2020, Published under Cement News

Pakistan's Federal Bureau of Statistics (FBS) released cement export data for July-September 2020 and September alone, which showed a positive trend on a cumulative YoY and MoM basis. Pakistan's cement industry earned US$72.29m of export revenue by exporting 2.197Mt of cement and clinker in the 3MFY20-21, compared to US$66.77m from 1.689Mt of exports in July-September 2019. Shipping represents an 8.3 per cent jump in dollar terms and a growth of 30.1 per cent in dispatches YoY.   ...

Two applications for new capacity at Dera Ghazi Khan

09 October 2020, Published under Cement News

Two of Pakistan's leading cement manufacturers are seeking environmental approval from the Environment Protection Department (EPD), Government of Punjab, for setting up a cement plant in Dera Ghazi Khan. According to official communications of the government department, DG Khan Cement Ltd and Pioneer Cement Ltd have both applied to set up new capacity in the same region. The approval is necessary under section 12 of Punjab Environmental Protection Act (1997), amended in 2012. The gover...

Minerals Department issues 8 cement plant licences in Punjab

07 October 2020, Published under Cement News

Pakistan’s Minerals Department has issued licences to eight companies willing to invest in Punjab to establish cement factories. These licences were issued on the direction of Provincial Minerals Minister, Hafiz Ammar Yasir, who noted that the province was making headway towards progress and development, according to The News International. Under the previous government, there was a ban on establishing new cement factories in Punjab. However, Hafiz Ammar Yasir has since had the ban wit...

Maple Leaf looks to expand WHR capacity

29 September 2020, Published under Cement News

Pakistan’s Maple Leaf Cement Factory Ltd has announced plans to expand capacity at its waste heat recovery plant to 25MW from 16MW. The project is expected to be worth INR1.8bn (US$24.38m) and is likely to be financed through debt. Sayeed Tariq Saigol, CEO, stated that the company has always endeavoured to reduce production costs and increasing its electricity production through the waste heat recovery plant will aid in this. The project is expected to begin by September 2021.

Flying Cement appoints new director

25 September 2020, Published under Cement News

Pakistan’s Flying Cement Co has announced the resignation of Waqar Zahid, a director of the company, effective from 10 September 2020. Following Mr Zahid’s departure, the company has appointed Muhammad Mubeen Khan as a new director.

Mixed trends in export from Pakistan continued in 2MFY20

24 September 2020, Published under Cement News

According to Pakistan's Federal Bureau of Statistics (FBS) cement export data for July-August 2020 (2MFY20-21) showed a mix of trends. Pakistan's cement industry earned US$44.51m of export revenue by exporting 1.376Mt of cement and clinker in the 2MFY20-21, compared to US$42.14m from 1.064Mt of exports in July-August 2019. Therefore, shipping represents a 5.6 per cent jump in dollar terms and a growth of 29.35 per cent in quantity MoM. In local currency terms, the export value increased ...

Fauji Cement sees 17% fall in net sales

24 September 2020, Published under Cement News

Pakistan’s Fauji Cement has released its full annual report for the FY19-20 period, ending 30 June 2020, showing a 17.1 per cent YoY fall in net sales to PKR17.23bn (US$103.7m) from PKR20.79bn. EBITDA also declined to PKR1.79bn from PKR6.04bn in the FY18-19. The company’s operating profit dipped to PKR11.67m from PKR4.46bn in the previous fiscal year. It also saw a net loss of PKR59.38m against an PKR2.82bn profit in the FY18-19. "During the FY19-20, the cement industry faced a number of c...

Bestway reports 31% drop in FY19-20 turnover

16 September 2020, Published under Cement News

Pakistan-based Bestway Cement reported a gross turnover of PKR63.7bn (US$383.4m) in the financial year ended 30 June 2020, down 19 per cent YoY when compared with PKR79bn in FY18-19. Net turnover fell 31 per cent from PKR53.6bn to PKR37.1bn. Gross profit for the year decline from PKR16bn in FY18-19 to PKR1.1bn in FY19-20. Profit after tax dwindled to PKR0.5bn from PKR10.1bn in the previous financial year. The declining results have been attributed by a significant drop in prices, a substan...

Maple Leaf Cement Factory Ltd posts PKR3.6m loss

14 September 2020, Published under Cement News

Pakistan’s Maple Leaf Cement Factory Ltd (MLCF) has reported a loss of PRK3.559m (US$226.3m) for the year ended 30 June 2020. Brokerage Arif Habib Ltd in a report said, “Topline of the company witnessed a dip of 21 percent YoY to PKR6bn in 4QFY20 as its dispatches tumbled 20 per cent YoY to 1.02Mt tagged with lower retention prices in the region.” In FY20 revenue reached PKR29.11bn, up 12 per cent YoY as lower retention prices offset the impact of a 41 per cent YoY hike in sales to 5.163M...

Cement stocks have outperformed in PSX lately

10 September 2020, Published under Cement News

An analyst at Intermarket Securities Ltd has reported that cement stocks listed on the Pakistan Stock Exchange (PSX) have recently outperformed and the present bull-run in cement stocks – up 82 per cent since March 2020 – has been driven by many factors. That includes good pick-up in local demand led by the private sector, anticipated commencement of Naya Pakistan Housing Scheme and the recent announcement of Karachi Package by the government, and lower input costs amid a decline in internat...