Cement News tagged under: Pioneer Cement Ltd

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Pioneer Cement and DG Khan Cement report profit falls in 1HFY19

27 February 2019, Published under Cement News

Two more leading cement companies of Pakistan announced their financial results for 1HFY19 (July-December 2018) to the Pakistan Stock Exchange (PSX). DG Khan Cement Co Ltd (DGKC) and Pioneer Cement Ltd (PCL) reported falls in profit despite increased cement sales due to the negative impact of the devaluation of the Pakistani rupee, amid higher coal prices and other factors during this period.  DG Khan Cement While announcing its financial results for the half-year ended 31 December 201...

Pakistan cement producers record falling sales

28 September 2018, Published under Cement News

Pakistan’s Fecto Cement Ltd has announced a 42 per cent YoY fall in profit for the FY18 ended 30 June, declining to PKR441m (US$3.56m) from PKR760m. Net sales of the company decreased 4.5 per cent to PKR4.9bn, compared with PKR5.13bn from the year-ago period.  The company has a cement production capacity of 0.819Mta from its facility in Sangjani, Punjab. Elsewhere, Pioneer Cement Ltd has recorded a 44 per cent YoY drop in earnings to PKR1.64bn for the FY18. Net sales were down five per cent...

Pioneer Cement raises grinding capacity

28 June 2018, Published under Cement News

Pioneer Cement, located at Khushab, in Punjab province has increased its cement grinding capacity to 0.8Mta. Company Secretary, Waqar Naeem, notified the stock exchange on Wednesday that Pioneer Cement had raised its grinding capacity to 345tph. According to Sherman Securities' Research Analyst Saqib Hussain, the capacity increase of 0.8Mta will help the company improve its revenue and profit. The extra grinding capacity was delayed and was originally scheduled to come on-stream in Decembe...

Pakistan has eight brownfield cement projects underway

29 May 2018, Published under Cement News

The eight brownfield cement projects with a total capacity of 18.8Mta are at various stages of completion and scheduled to be commissioned between June 2019 and June 2020 at an estimated cost of over PKR159bn (US$1.37bn) in Pakistan, according to a research house report. So far, all the projects have completed, on average, at least 46 per cent of their construction. China-based Sinoma is currently building a 1.9Mta plant for Bestway Cement at a cost of PKR18.9bn and about 55 per cen...

Pioneer Cement appoints new General Manager

02 May 2018, Published under Cement News

Raysut Cement Company has appointed Ashley Bryan as General Manager of Pioneer Cement Industries LLC, UAE, which is a wholly-owned subsidary of Raysut Cement Company, effective April 2018. Mr Bryan ,49, will report to Raysut’s CEO, Joey Ghose. Ashley Bryan brings with him over 30 years of experience of the cement industry, having begun his career in 1988, and has worked in various engineering and operational roles in the UK, Nigeria and southeast Asia. He has an active interest in organisa...

Pioneer reports profit loss of 19% QoQ

24 October 2017, Published under Cement News

Pioneer Cement Co Ltd (PIOC) announced its 1QFY18 financial result, where it posted profit after tax of PKR417m (US$3.95m), down by 19 per cent on QoQ basis and 41 per cent on YoY basis.   According to a notification of company to Pakistan Stock Exchange, The company's revenue witnessed a fall of three per cent YoY to PKR2.4bn, according to a Pioneer notification to the Pakistan Stock Exchange. The decrease has been attributed by a research house to a 53 per cent decline in clinker sales...

Pioneer Cement to acquire Galadari Cement

06 October 2017, Published under Cement News

Pioneer 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 ...

Pioneer Cement net income rises 16%

28 September 2017, Published under Cement News

Pioneer Cement Ltd posted a net income of PKR2.91bn (US$27.6m) in the fiscal year ended on 30 June, up 16 per cent compared with PKR2.51bn in the previous year, according to a company notice to the Pakistan Stock Exchange (PSX). Revenues of the company surged by 13 per cent YoY mainly driven by clinker sales made to Fauji Cement during the year. Gross margins of the company remained above industry average of 40 per cent, however, they dipped slightly by 100 basis points YoY to 42 per ce...

Pakistan: Pioneer Cement inks agreements with Sinoma-Chengdu

09 February 2017, Published under Cement News

Pioneer Cement Ltd (PIOC) informed Pakistan Stock Exchange (PSX) that it has  signed a contract with Sinoma-Chengdu of China for procurement of its new cement works, a 12MW waste heat recovery power unit and a 24MW coal-fired power plant.   PIOC has cement production capacity of over 2Mta but has operated at a meager 60 per cent utilisation level (FY12-FY16), despite local industry demand witnessing robust growth, says a local research house. This has been a result of lower crushing capacit...

Pakistan: Pioneer Cement starts its WHR plant in Punjab province

19 December 2016, Published under Cement News

Pioneer Cement Ltd has informed Pakistan Stock Exchange (PSX) that its 12MW Waste Heat Recovery power plant (WHRPP) has started operations on from 15 December at Jouharabad, Khushab district, in central Punjab province. It will impact positively on the financial results of the company in the years to come. The company is also in the final stages of selecting a of supplier for installation of a new production line having capacity of 7000tpd clinker at the existing site. The negotiations a...