Cement News tagged under: Pakistan
Maple Leaf Cement Factory diversifies into hospitals12 March 2024, Published under Cement NewsMaple Leaf Cement Factory Ltd informed the Pakistan Stock Exchange (PSX) about its investment in the hospital business on 10 March. The bourse filing said that Novacare Hospitals (Pvt) Ltd, a wholly-owned subsidiary of the company, will start constructing a state-of-the-art hospital in Islamabad and has signed an international affiliation agreement with Imperial College Healthcare NHS Trust, a leading UK teaching hospital group. The total investment in the project will be US$110m, and the ... |
A quarterly review of the Pakistan cement industry11 March 2024, Published under Cement NewsDue to many competing factors, Pakistan's cement industry will likely see lukewarm sales in 3QFY23-24 (January-March 2024). The holy month of Ramadan will begin on 11 or 12 March and may exhibit weak cement demand for about 30 days. According to AKD Research, industry sales in the current quarter (3QFY23-24) are expected to remain subdued owing to election activity, Ramadan, Eid festivities and inclement weather conditions. Meanwhile, for the full fiscal year, the analyst expects local sa... |
Dandot Cement Co re-fired its kiln in December11 March 2024, Published under Cement NewsAccording to the1HFY23-24 financial report of Dandot Cement Co Ltd r eleased recently, the company officially commenced operations by lighting up the kiln in December 2023 and is currently in the testing phase. Nevertheless, the net loss for the period is PKR124.81m (US$0.48m) (Dec 2022: PKR126.28m), as no production was reported during the period due to Balancing, Modernisation and Replacement (BMR) of the plant at Dandot RS in Jhelum district, Punjab province, Pakistan. Company’s plan... |
Pakistan cement industry exhibits record quarterly profit in 2QFY23-2408 March 2024, Published under Cement NewsPakistan's listed cement sector reported record earnings of PKR22.4bn (US$58.18m), up eight per cent YoY in the 2QFY23-24. This earnings growth is primarily due to higher gross margins and other income. Major contributors to the profitability of the cement sector in the 2QFY23-24 were Lucky Cement (LUCK), followed by Bestway Cement (BWCL) and Fauji Cement (FCCL), according to Topline Pakistan Research, Analysts believe these achievements were made despite a fall in cement dispatches. ... |
Pakistan International Bulk Terminal saw revenue surge by 38% in 1HFY23-2407 March 2024, Published under Cement NewsPakistan International Bulk Terminal Ltd (PIBTL) recently released its 1HFY23-24 (July-December 2023) report at the Pakistan Stock Exchange (PSX). During the period, the company earned a net profit of PKR1.056bn (US$3.78m) against incurring a loss of PKR232m in the same six months of the last fiscal year. This positive profit development was possible due to an increase in revenue to PKR8.07bn, up from PKR5.86bn during this period. The financial cost rose to PKR1.06bn and taxation also exp... |
Pakistan cement dispatches down 19% YoY in February05 March 2024, Published under Cement NewsPakistan has reported total cement dispatches of 3.26Mt in February 2024, compared to 4.04Mt in the same period a year earlier. This marks a YoY decline of 19.2 per cent, according to the All Pakistan Cement Manufacturers Association. Local dispatches in February this year came in at 2.86Mt, down 20.2 per cent on the same period a year ago, reports Bol News, while cement exports have seen a drop of 11 per cent YoY with volumes falling from 444,962t in February 2023 to 395,935t in Februar... |
Gharibwal Cement achieves a gross profit of PKR1.499bn in 1HFY23-2405 March 2024, Published under Cement NewsGharibwal Cement Ltd (GWLC) of Pakistan announced its half-year financial results ending 31 December 2023, on 26 February 2024. The company saw a decrease in its profit to PKR685m (US$2.45m) in 1HFY23-24 from PKR1.12bn earned in the same period last year. This translated to a fall of 39.2 per cent in profit YoY. The major factor responsible for this fall was the increased cost of sales and other factors. According to the company's latest report, it experienced a 1.9 per cent decline in ne... |
Kohat Cement Factory expands capacity and progresses Punjab plant04 March 2024, Published under Cement NewsKohat Cement Factory has updated the Pakistan Stock Exchange Ltd (PSX) about an increase in cement production capacity at Kohat in Khyber Pakhtunkhwa. After the optimisation of the pyroprocessing section of the existing 6700tpd grey cement production line, the clinker production capacity of the company increased from 6700tpd to 7064tpd. Moreover, the company’s net profit after tax jumped by 19 per cent to PKR4.45bn (US$15.93m) in the 1HFY23-24. However, local dispatches fell by 8.1 per ... |
Pioneer Cement’s profit expanded by 49% in 1HFY23-2404 March 2024, Published under Cement NewsPioneer Cement Ltd announced its 1HFY23-24 result on the Pakistan Stock Exchange (PSX) website on 28 February 2024, where the company posted a profit after tax (PAT) of PKR2.62bn (US$9.38m) compared to PKR1.76bn in the equivalent period last year. This translates into a growth of 49.1 per cent YoY on the back of reduced financial costs and an increase in other income. Its sales (gross revenue) increased to PKR18.82bn from PKR18.64.08bn in financial year-ago period. The company incurred a ... |
Cement performance aids Pakistan Stock Exchange's record 2023 profitability01 March 2024, Published under Cement NewsPakistan Stock Exchange saw record profitability in 2023 amid the cement performance. The profitability of the KSE-100 index continues to soar to new heights, posting a robust growth of 51 per cent YoY in 2023. According to AHL Research, the increase in profitability during the period was attributable to a surge of 82, 60, 55 and 47 per cent YoY growth in banks, E&Ps, power and fertilisers, respectively. The cement sector also saw an index gain during this period. An analyst said that th... |