Cement News tagged under: Thatta Cement

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Thatta Cement's profits slip in 1HY19-20

25 February 2020, Published under Cement News

Pakistan's Thatta Cement Company Ltd (THCCL) has announced its consolidated financial results for the half year ended 31 December 2019. It posted a profit of PKR116m (US$0.75m), representing a 61.4 per cent fall YoY, as compared to PKR300m earned in the same period last year.  The major factor responsible for this drop were lower sales and increased finance costs. THCCL's net sales during the reporting year decreased by 35.5 per cent to PKR1.50bn from PKR2.33bn during the same period last ...

Thatta Cement appoints new CFO

01 January 2020, Published under Cement News

Thatta Cement Co Ltd (THCCL) informed the Pakistan Stock Exchange (PSX) on 1 January that Mr Fuad Zakaria Bhuri has been appointed to the position of Chief Financial Officer (CFO) of the company with effect from 1 January 2020, in place of Mr Shahid Yaqoob. Thatta Cement operates an integrated cement plant with a capacity of 488,250tpa at Thatta in the Sindh Province of Pakistan.

Varied results for PSX listed cement producers in 1QFY19-20

13 November 2019, Published under Cement News

The 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...

Thatta Cement announces new chairman

27 September 2019, Published under Cement News

Pakistan’s Thatta Cement Co Ltd has announced that a new chairman has been appointed. Naheed Memon will succeed Khawaja Muhammad Salman Younis in the role, with effect from 23 September 2019. Elsewhere, the company recently announced a 40 per cent profit decline in the FY19 .

Thatta Cement's achieves net profit after tax of PKR164m

25 April 2019, Published under Cement News

Thatta Cement Company Ltd (TCC), announced its financial results for 9MFY19 on 24 April. It reported net profit after tax of PKR164m (US$1.16m), down 47 per cent when compared to PKR307m in the year-ago period. TCC's net sales increased to PKR2.89bn from PKR2.17bn during this period, representing a growth of 33 per cent YoY. The company incurred higher distribution expenses of PKR208m and administrative expenses fell to PKR77m compared to PKR7m and PKR95m, respectively in nine months of t...

Thatta Cement appoints directors and appproves WHR project at AGM

18 October 2018, Published under Cement News

At Thatta Cement Co Ltd's (TCCL) annual general meeting the company elected seven directors for a three-year term commencing from 16 October 2018. The appointments include Khawaja Mohammad Salman Younis, Muhammad Taha Hamdani, Agha Sher Shah, Shahid Aziz Siddiqui, Naheed Memon, Saleem Zamindar and Shahzad Sabir. The company has also approved the time period for providing a PKR300m (US$2.25m) loan/advance facility to its subsidiary company, Thatta Power (Pvt) Ltd (TPPL),  as approved by t...

Thatta Cement reports 22% drop in net sales for FY17-18

14 September 2018, Published under Cement News

Pakistan’s Thatta Cement has recorded a 22.3 per cent YoY fall in net sales to PKR2.84bn (US$23.03m) for the FY17-18 period, ended 30 June 2018. Operating profit decreased 38.4 per cent to PKR563.2m (FY16-17: PKR913.69m), while net profit slipped 38.7 per cent to PKR356.86m (FY16-17: PKR581.99m). Consolidated net sales saw a minor decline of 0.8 per cent to PKR3.79bn, compared with PKR3.82bn of the FY16-17. Consolidated operating profit was down 10.5 per cent YoY to PKR987.63m. However, ne...

Pakistan cement companies recognised for corporate and sustainability reports

08 August 2018, Published under Cement News

The Institute of Chartered Accountants of Pakistan (ICAP) and Institute of Cost and Management Accountant of Pakistan (ICMAP) have awarded Best Corporate and Sustainability Report 2017 (BCSR) Awards to more than 40 companies, including several cement firms for their reports. The award-winning cement companies included Cherat Cement, Lucky Cement Ltd, Maple Leaf Cement Ltd and Thatta Cement Ltd.   Tariq Hassan, chairman of Audit Oversight Board, Richard Morin, CEO of the Pakistan Stock Excha...

Thatta Cement's profit falls to PKR183.9m in 6MFY17-18

19 March 2018, Published under Cement News

Thatta Cement Co Ltd's profit after tax fell from PKR389.8m (US$3.5m) to PKR183.9m (US$1.6m) during 6MFY17-18. Clinker production stood at 194,825t with a capacity utilisation of 76.4 per cent in comparison to clinker manufacture of 236,135t and capacity utilisation of 92.6 per cent during the corresponding period of last year. Lower off take of cement and accumulation of huge clinker stocks were cited as reasons for the decline in clinker production. Overall sales of the company during ...

Thatta Cement's profit falls

13 February 2018, Published under Cement News

Thatta Cement Co Ltd's (TCCL) financial results for the half year ended 31 December 2017 saw a profit after tax PKR321.66m (US$2.9m), compared to PKR405.79m earned in corresponding period last year – showing a fall of 20.7 per cent in profit on YoY basis. The company's net sales stood at PKR1.73bn compared to PKR1.77bn in 6MFY16. It incurred a distribution cost of PKR35.43m against PKR45.49m in 6MFY16. Its administrative expenses stood at PKR70.50m compared to PKR69.83m corresponding pe...