Cement News tagged under: Pioneer Cement
Pioneer Cement reports 98% surge in full-year net profit18 September 2024, Published under Cement NewsPakistan-based Pioneer Cement Ltd , reported revenue of PKR35.52bn (US$127.7m) in the FY23-24 ended 30 June 2024. This represents a drop of 1.8 per cent when compared with PKR36.165bn in the FY22-23. However, the company’s gross profit improved by 25 per cent YoY to PKR11.763bn in FY23-24 from PKR9.409bn in the year-ago period while operating profit saw a 21 per cent uptick to PKR10.756bn from PKR8.889bn over the same period. The company’s net profit advanced by 98.2 per cent to PKR5.17... |
Royalty issue on cement raw materials in Punjab landed in court19 August 2024, Published under Cement NewsAccording to Topline Research, Punjab-based cement manufacturers have obtained a stay order from the court against the imposition of six per cent of ex-factory cement/clinker price as royalty on limestone and argillaceous clay in a major development. However, the analyst remarked that this stay is subject to bank guarantees to be furnished by manufacturers. To avoid any unfavourable decision in the future, the Punjab manufacturers are increasing cement prices by up to INR75/bag (US$0.89/bag... |
Pioneer Cement coal mix strategy impacting positively25 March 2024, Published under Cement NewsPioneer Cement Ltd (PIOC), which had a market capitalisation of US$110m on 8 March, will see healthy growth in profit and dividend yields, according to AKD Research. This is based on the company's past performance and steps taken to improve margin. The research house believes that improved fuel mix results may increase profitability. PIOC has exceeded market expectations, with a drop in coal prices and an increase in local coal in the fuel mix, resulting in gross margins expanding to 32... |
Pioneer Cement’s profit expanded by 49% in 1HFY23-2404 March 2024, Published under Cement NewsPioneer Cement Ltd announced its 1HFY23-24 result on the Pakistan Stock Exchange (PSX) website on 28 February 2024, where the company posted a profit after tax (PAT) of PKR2.62bn (US$9.38m) compared to PKR1.76bn in the equivalent period last year. This translates into a growth of 49.1 per cent YoY on the back of reduced financial costs and an increase in other income. Its sales (gross revenue) increased to PKR18.82bn from PKR18.64.08bn in financial year-ago period. The company incurred a ... |
Pioneer Cement still to decide on greenfield or brownfield expansion27 November 2023, Published under Cement NewsPioneer Cement has yet to select a green or brown option for expansion in the Punjab. Topline Securities hosted a corporate briefing session (CBS) for Pioneer Cement Co Ltd (PIOC) on 24 November, where PIOC group chairman, M Habibullah Kha, shared the company’s future outlook. The company’s management highlighted that PIOC had acquired a site at DG Khan for a greenfield project in southwestern Pakistan. However, preference would be given to put up additional lines at the current locati... |
Pioneer Cement’s profits expand 60% in 1QFY23-2402 November 2023, Published under Cement NewsPioneer Cement Ltd (PIOC) announced its 1QFY23-24 result on the Pakistan Stock Exchange website, where the company posted a profit after tax (PAT) of PKR933m (US$3.32m) compared to PAT of PKR585m in the same quarter last year. This translates into a growth of 59.5 per cent YoY, due to expansion in revenue during the period. PIOC’s sales (gross revenue) increased by 4.7 per cent to PKR8.71bn from PKR8.32bn in the accounting comparative period. It incurred a higher distribution cost of... |
Pioneer Cement's profit rises by 149% in FY2304 October 2023, Published under Cement NewsPioneer Cement Ltd (PIOC) posted a profit after tax of PKR2.61bn (US$9.07m) in FY23 versus PKR1.05bn in the previous financial year, the company said in a statement to the Pakistan Stock Exchange on 28 September. This significant advance of 149 per cent YoY is mainly due to increased sales, which rose by 13 per cent to PKR36.16bn from PKR31.87bn in FY22. The cost of sales increased to PKR26.75bn from PKR24.67bn over the same period. The company incurred higher distribution costs of... |
Cement players expect demand in FY24 to remain stable16 June 2023, Published under Cement NewsTopline Securities hosted the Pakistan Cement Conference 2023, where top executives of major cement players Maple Leaf Cement (MLCF), Lucky Cement (LUCK), DG Khan Cement (DGKC), Cherat Cement (CHCC), Kohat Cement (KOHC) and Pioneer Cement (PIOC) participated in the conference through Zoom recently. They ruled out unanimous fears of a price war, stating that it would be unwise to start a price war due to economic conditions and slow demand. However, they believed that major ... |
A score of cement companies mixed financial results in 9MFY22-2315 May 2023, Published under Cement NewsSeveral of Pakistan’s cement firms have presented their financial result for the 3QFY22-23 and 9MFY22-23 in April/May 2023. During the accounting period of nine months, they reported mixed results due to a rise in the cost of sales, distribution and finance charges, etc. High inflation and political unrest also dented sales and profits. In the 9MFY22-23 Flying Cement Co Ltd reported a decrease in profit after tax (PAT) to PKR226m (US$0.79m) from PKR766m earned in the corresponding pe... |
Pakistan manufacturers post strong 1HFY22-23 financial results27 February 2023, Published under Cement NewsAccording to the Pakistan Stock exchange (PSX), Pioneer Cement Ltd (PIOC) earned a profit of PKR1.76bn (US$6.81m) in 1HFY22-23 compared to PKR1.14bn made in the previous year’s corresponding period. This reflects a growth of 54.1 per cent YoY. PIOC's gross sales increased by 19.4 per cent to PKR25.08bn in 1HFY22-23 from PKR21bn during the same period last year. It incurred distribution expenses of PKR61m against PKR52m in the previous financial period. The administrative costs rose to P... |