Cement News tagged under: Pioneer Cement Ltd
Two applications for new capacity at Dera Ghazi Khan09 October 2020, Published under Cement NewsTwo 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... |
Pakistan's goverment to recover foreign loan funds from Galadari Cement14 April 2020, Published under Cement NewsPakistan's government on 8 April decided to recover a foreign funding loan from a local cement plant that has been under construction for a long time in Balochistan province. According to a government statement, Adviser to the Prime Minister on Finance and Revenue, Dr Abdul Hafeez Shaikh, on the summary moved by the Economic Affairs Division (EAD) for the recovery of foreign currency loans from the private sector borrowers, ie Galadari Cement Ltd (GCL), has decided that the EAD should re-s... |
Varied results for PSX listed cement producers in 1QFY19-2013 November 2019, Published under Cement NewsThe financial results of eight cement companies of Pakistan for the July-September 2019-20 period reveals that their profits shrank owing to weak sales, high financial charges and other unavoidable factors, with a few of them also sustaining losses. Industry overview In the 1QFY19-20 Pakistan's cement industry posted a marginal growth of 2.6 per cent, amounting to 11.13Mt compared with 10.85Mt last year. Local dispatches remained more or less the same, rising to 9.12Mt from 9.06Mt in th... |
Pioneer Cement profit shrinks by 52% in FY1907 October 2019, Published under Cement NewsPioneer Cement Ltd (PIOC) of Pakistan has announced its financial results for the year ended 30 June 2019 today. It earned a net profit of PKR790m (US$5m) as compared to PKR1.644bn earned in the same period last year – falling by 52 per cent YoY. Sales declined from PKR10.12bn to PKR9.73bn during this accounting period. The drop in profit is reportedly due to increase in the cost of sales to PKR7.598bn from PKR7.310bn and an increase in finance cost from PKR94m to PKR270m during this report... |
Pioneer Cement and DG Khan Cement report profit falls in 1HFY1927 February 2019, Published under Cement NewsTwo 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 sales28 September 2018, Published under Cement NewsPakistan’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 capacity28 June 2018, Published under Cement NewsPioneer 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 underway29 May 2018, Published under Cement NewsThe 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 Manager02 May 2018, Published under Cement NewsRaysut 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% QoQ24 October 2017, Published under Cement NewsPioneer 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... |