Cement News tagged under: Pakistan
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... |
DG Khan Cement's profit increased by 13% in 1HFY23-2401 March 2024, Published under Cement NewsDG Khan Cement Co Ltd (DGKC) announced its financial results for the half year ended 2023-24 on 26 February 2024. Its net profit after taxation increased by 13.2 per cent YoY to PKR1.05bn (US$379.2m). The rise in profit can be attributed to higher sales or 17 per cent during these six months ending on 31 December 2023. Its net sales increased to PKR34.78bn from PKR29.76bn during this period. It incurred a distribution cost of PKR1.20bn (a 136 per cent rise) against PKR508m and administ... |
Fauji Cement posts 20% sales increase in 1HFY23-2427 February 2024, Published under Cement NewsPakistan’s Fauji Cement Co Ltd has reported sales of PKR40.35bn (US$145.75m) in the1HFY23-24, ended 31 December 2023. This compares to PKR33.67bn in the same period a year earlier, marking a 19.83 per cent YoY increase. Net profit over the same period advanced by 3.83 per cent from PKR5.079bn to PKR5.273bn. Over the six-month period, the cost of sales increased by 17.32 per cent from PKR23.434bn to PKR27.493bn, while gross profit came in at PKR12.858bn, up 25.59 per cent on the PKR10.23... |
Thatta Cement reports profit in 1HFY23-2427 February 2024, Published under Cement NewsPakistan cement producer Thatta Cement Co Ltd (THCCL) has announced its financial results for the half year ended 31 December 2023 (July-December 2023) on the website of the Pakistan Stock Exchange (PSX). Its reported profit after tax was PKR358m (US1.28m) against a loss of PKR6.2m in the corresponding period last year. The recovery from losses can be attributed to higher sales and significant improvement in gross profit during this period. THCCL's net sales increased to PKR3.12bn from PK... |