Cement News tagged under: Pakistan
Attock Cement Pakistan reports fall in profits20 October 2017, Published under Cement NewsAttock 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 1QFY1819 October 2017, Published under Cement NewsDG 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 Qasim16 October 2017, Published under Cement NewsPakistan’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 launch11 October 2017, Published under Cement NewsEverything 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... |
Flying Cement Co reports 11% rise in post-tax profit10 October 2017, Published under Cement NewsPakistan’s Flying Cement Co Ltd reported a 0.24 per cent fall in its full-year sales to PKR2.47bn (US$23.4m) in 2017 from PKR2.476bn in 2016. However, the company’s operating profit (before finance costs) rose from PKR119.8bn to PKR142.6bn over the same period after PKR6.1m in distribution costs, PKR39.5m in administrative expenses and PRK15.2m in other expenses were deducted. Finance costs saw a hike of PKR8.1m from PKR2.9m. The company received PKR64.4m in “other income” but saw a P... |
Kohat Cement seeks approval for 7800tpd plant10 October 2017, Published under Cement NewsKohat Cement Company Ltd (KOHC) of Pakistan is in process to get approval from concerned departments for its already-announced 7800tpd expansion project at plant site Kohat in the Khyber Pakhtunkhwa province of Pakistan. The expansion is expecting to come online by FY20. According to a report of Intermarket Securities Ltd, the project is estimated to cost around US$120m, which will be financed 50 per cent by debt and the remaining from internal cash generation. |
Fauji Cement Line II expected to be running at the end of October10 October 2017, Published under Cement NewsFauji Cement Company Ltd’s (FCCL) of Pakistan is making efforts to revive production from Line II following an accident last year which affected plant production. According to local research house, the company has taken the advantage of the line's needed reconstruction to expand its capacity from original 7200tpd to 7600tpd. FCCL suffered depressed operations in FY17 post collapse of its 2.16Mt clinker silo in May 2016, which halted operations of the line. However, the company is expecte... |
Pakistan export revenue declines 15% in 2MFY1709 October 2017, Published under Cement NewsThe Pakistan cement industry export revenue during the first two months of current financial year (July-Aug 2017) recorded a fall of 14.86 per cent and 13.9 per cent i n terms of value in dollar and quantity, respectively on YoY basis , while mixed trends were also observed on a MoM basis, says data released by Federal Bureau of Statistics, Pakistan Government. The country exported 871,434t of cement and earned export revenue of US$44.92m in July-August 2017 compared to 1Mt at US$52.77m i... |
Pioneer Cement to acquire Galadari Cement06 October 2017, Published under Cement NewsPioneer Cement Company Ltd (PIOC) in a stock filing informed that it has signed a Memorandum of Understanding with sponsors of Galadari Cement (GULF) Ltd (GCGL) to acquire 100 per cent stake of the company. GCGL was incorporated in 1980 with acquisition of land at District Hub, in Baluchistan province of Pakistan, while formal construction of plant had begun during 1998. The plant's main equipment was procured from European manufacturers. However, due to legal and inheritance issues the ... |
Northern Pakistan records fall in cement prices06 October 2017, Published under Cement NewsAccording to industry sources, cement producers in the north region of Pakistan have increased the discount on cement prices effective 2 October 2017 by PKR10-15/bag to PKR480-495/bag (US$4.55-4.69). As a result, cement prices in the North are down 11-12 per cent from the high of PKR540-560/bag seen in Jul-August 2017. However, prices in the southern region remain unchanged. Current price range of PKR570-605/bag reflects a premium of approximately PKR100/bag compared with the North (PKR4... |