Cement News tagged under: Thatta Cement
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... |
Thatta Cement announces new chairman27 September 2019, Published under Cement NewsPakistan’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 PKR164m25 April 2019, Published under Cement NewsThatta 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 AGM18 October 2018, Published under Cement NewsAt 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 FY17-1814 September 2018, Published under Cement NewsPakistan’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 reports08 August 2018, Published under Cement NewsThe 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 6MFY17-1819 March 2018, Published under Cement NewsThatta 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 falls13 February 2018, Published under Cement NewsThatta 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... |
Mixed 1HFY17 results for Pakistani cement producers16 February 2017, Published under Cement NewsThe latest series of business results of Pakistani cement producers show a mixed performance during the first half of the 2017 financial year. DG Khan Cement Company DG Khan Cement Company Ltd (DGKC) has announced its 1HFY17 financial result. It reported a profit after tax (PAT) of PKR4.506bn (US$42.9m) during 1HFY17 against a PAT of PKR4.080bn during 1HFY16, up 10 per cent, YoY. In line with trends, DGKC did not declare any dividend along with its 1HFY17 results. The company's... |
Pakistan: Maple Leaf and Thatta Cement 1QFY16/1726 October 2016, Published under Cement NewsPakistan's Maple Leaf Cement Factory earned profit after tax of PKR1.185bn (US$11.3m) in July- September 2016 compared to PKR846.72m in the corresponding period last year, representing a 40 per cent rise. The company's net sales increased to PKR5.52bn from PKR4.96bn in 1QFY15/16. It incurred higher distribution cost of PKR373m and administrative expenses of PKR124m from PKR303m and PKR112m during this comparative period. In addition, its financing cost fell to PKR52m from PKR185.9m of sam... |