Cement News tagged under: Power Cement

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PSX listed cement companies release financial results for 1HFY23

10 March 2023, Published under Cement News

Cement companies listed in the Pakistan Stock Exchange (PSX) continue to report mixed financial results for the 1HFY22-23 (July-December 2022) of the current financial year FY22-23 (July 2022-June 2023). Although companies have reported an increase in sales, their cost of sales and bank borrowing has increased, resulting in a tightening of profit margins.  According to JS Global Capital Ltd, demand improvement has given the industry room to pass some of the impact of cost growth due to the...

Power Cement to use local Thar coal

26 January 2023, Published under Cement News

Sindh Engro Coal Mining Co(SECMC) and Power Cement have signed a memorandum of understanding (MoU) for a trial run of Thar coal for cement production in Power Cement's plant at Nooriabad Industrial Area, Kalo Kohar District, Jamshoroo, Sindh, Pakistan. The MoU was signed by Sindh Engro Coal Mining Co CEO, Amir Iqbal, and Power Cement CEO, Kashif Habib. Power Cement's Chief Operating Officer, Ahsan Anis, Director Export Marketing, Saifuddin Khan, and DGM International Trade, Badar Bin An...

APCMA elects new executive committee

23 November 2022, Published under Cement News

Muhammad Ali Tabba, chief executive of Lucky Cement , has been appointed chairman of the All Pakistan Cement Manufacturers Association (APCMA) for the 12 months ending September 2023. Senior vice chairman of the APCMA over the same period has been named as Kohat Cement ’s Aizaz Mansoor Sheikh, while Attock Cement ’s Babar Bashir Nawaz has been elected vice chairman. Also elected were eight executive committee members, including: Sayeed Tariq Saigol ( Maple Leaf Cement ) Azam Fa...

Power Cement Ltd posts US$2.03m loss in FY22

12 October 2022, Published under Cement News

Power Cement Ltd has reported a loss after taxation of PKR443m (US$2.03m) in its 2022 financial year, compared to a profit of PKR358m in the corresponding period last year, said a company statement to the Pakistan Stock Exchange. Net sales increased by 23 per cent to PKR17.49bn from PKR14.22bn in the same period last year. It incurred lower selling and distribution expenses of PKR965m from PKR1.19bn in FY21, while administrative costs increased to PKR286m from PKR254m over the same ...

Power Cement's Kiln Line III to resume operations by the end of April 2022

13 April 2022, Published under Cement News

Power Cement Ltd informed Pakistan Stock Exchange (PSX) on 11 April 2022, that a component of the new Line III of the company’s plant at Nooriabad Industrial Area, Kalo Kohar District, Jamshoroo, Sindh, was damaged at the end of January 2022.  According to Power Cement's Company Secretary, Salman Gogan, it does not expect an adverse financial impact due to the warranty coverage and the availability of stock sufficient to cover over two months of sales. Meanwhile, the planned periodic ...

New CFO for Power Cement

05 April 2022, Published under Cement News

Power Cement Ltd has appointed Irfan Sikandar Bawa as CFO with effect from 4 April 2022, succeeding Tahir Iqbal, according to the company’s filing to the Pakistan Stock Exchange.

Pakistani cement producers earn a profit in 1HFY22

11 March 2022, Published under Cement News

The major players in Pakistan’s cement industry have reported a profit during 1HFY22 in Pakistan. The Spectrum Research has attributed to an increase in the topline, a decrease in finance cost and an increase in other costs during this period, particularly in the 2QFY22. However, most of the companies did not announce any dividends.   Industry dispatches in 1HFY22 According to Lucky Cement , the cement industry-wide local sales volume registered a growth of 1.9 per cent to reach 24....

Power Cement reports 82% YoY rise in 1H net profit

02 March 2022, Published under Cement News

Power Cement posted a 43.6 per cent increase in revenues to PKR5162m (US$29.1m) in the quarter ended 31 December 2021 (2QFY21-22), up from PKR3595m m in the 2QFY20-21. Operating profit saw a 37.3 per cent hike to PKR961m in the 2QFY21-22 from PKR700m in the equivalent period of the previous year. Net profit  advanced 96.7 per cent YoY to PKR471m in the 2QFY21-22 from PKR239.4m. Half-year results In the half year ended 31 December 2021, Power Cement saw its revenues increase by 35.7 pe...

Power Cement posts surge in revenue

21 April 2021, Published under Cement News

Pakistan’s Power Cement has seen its revenue surge 341 per cent to PKR10.96bn (US$71.39m) in the nine-month period ended 31 March, compared to PKR2.65bn in the year-ago period. Its profit after tax reached PKR110.5m against a PKR1.75bn loss in the 9MFY19-20. In the 3QFY20-21 revenue advanced to PKR4.1bn from PKR1.39bn, while profit after tax returned to PKR41.68m from a PKR1.38bn loss in the 3QFY19-20.

Power Cement sees net sales surge 459%

03 November 2020, Published under Cement News

Pakistan’s Power Cement saw its net sales surge 458.9 per cent YoY in the quarter ending 30 September 2020, rising to PKR3.26bn (US$20.36m) from PKR583m. However, the company has also reported a loss after tax of PKR170.78m against a PKR7.9m profit in the corresponding period of the previous fiscal.