Cement News tagged under: Pakistan
Fauji Cement Co expected to post mixed financial results05 February 2024, Published under Cement NewsAccording to AHL Research, Fauji Cement Co Ltd (FCCL) is scheduled to announce its financial result for 2QFY23-24 (October-December 2023) soon with an expected profit after tax of PKR2.347bn (US$8.39m) as compared to PKR2.764bn a year ago. This represents a fall of 15 per cent YoY. This will take the earnings for 1HFY23-24 (July-December 2023) to settle at PKR4.961bn compared to PKR5.079bn in 1HFY22-23. Despite a seven per cent YoY decline in total dispatches in 2QFY23-24, the top line is... |
Pakistan extends T&T implementation deadline02 February 2024, Published under Cement NewsThe Federal Board of Revenue (FBR) has launched the Track and Trace System (TTS) that was to be rolled out across the cement, sugar, fertiliser, beverages, tobacco, POL products and steel sectors from 1 July 2021 in Pakistan to enhance tax revenue, reduce counterfeiting and preventing the smuggling of illicit goods through the implementation of a robust, and has extended the deadline for cement manufacturers to fully implement the TTS to 30 April 2024. According to a local report, the last ... |
Lucky Cement records 92 per cent jump in profit29 January 2024, Published under Cement NewsLucky Cement Ltd posted its financial result for 1HFY24 at the Pakistan Stock Exchange (PSX) on 26 January. The company announced unconsolidated earnings of PKR13.710bn (US$49m), showcasing a hefty jump of 92 per cent YoY. Gross sales increased to PKR79.26bn from PKR58.70bn over the same period. The company has decided to undertake a 28.8MW wind power project at the Karachi plant. The project is expected to be completed by 1QFY25. The company is also expected to increase solar capacities ... |
Kohat Cement welcomes new company secretary29 January 2024, Published under Cement NewsNadeem Atta Sheikh, chief executive at Kohat Cement , informed the Pakistan Stock Exchange Ltd (PSX) on the 26 January that Muhammad Ahsan Yousaf has ceased to be the company secretary of Kohat Cement with immediate effect. Ms Iqra Khalid has been appointed the new company secretary. |
Cement dispatches show mixed trend in January26 January 2024, Published under Cement NewsThe All Pakistan Cement Manufacturers Associations (APCMA) is yet to issue January 2024 cement dispatches data about local consumption and export. However, Topline Pakistan Research has forecast that Pakistan total cement sales in January 2024 will decline by 14-18 per cent YoY and MoM to reach 3.4Mt. According to a report, local cement dispatches are likely to fall by 15-19 per cent YoY and MoM to total 2.9Mt, primarily due to a slowdown in construction activities due to higher cost of co... |
Lucky Cement expected to post strong financial results24 January 2024, Published under Cement NewsPakistan cement manufacturers, listed in Pakistan’s Stock Exchange (PSX), are yet to start posting their financial results on the bourse for 2QFY23-24 and 1HFY23-24. Mixed results are expected, due to the high construction cost, cement bag and steel prices, unviable interest rates and peak inflation. However, Lucky Cement Ltd ,which is scheduled to announce its 2QFY24 financial result on 25 January 2024, is forecast to lead the way. AHL Research forecasts the company to post a standalon... |
Pakistan's cement exports consistently increase23 January 2024, Published under Cement NewsPakistan's cement industry has registered significant growth in US-dollar revenue and volume growth for cement and clinker exports during the first six months of FY23-24 (July-December 2023), due to the continued good exchange rate of the Pakistani rupee against foreign currency and other factors. Pakistan's cement and clinker exports increased by around 58.8 per cent in the 6MFY23-24 to US$135.92m (3.503Mt), compared to US$85.61m (1.71Mt) in the 6MFY22-23, the Pakistan Bureau of Statis... |
Red Sea crisis on Pakistan’s cement industry18 January 2024, Published under Cement NewsPakistan closely monitors the Red Sea crisis as it could disturb the movement of cement export cargoes to the USA and Europe as well as affect coal imports at Pakistani ports. It is also feared that any trade re-route would spark new inflation and supply chain disruption worldwide and in Pakistan. IMS Research, in a situation review report, warned that escalating tensions in the Middle East have begun to exert a notable influence on global trade, with Yemeni Houthi actions targeting commerc... |
Pakistani cement dispatches see 5% uptick in December18 January 2024, Published under Cement NewsCement dispatches in Pakistan were up five per cent YoY in December 2023, settling at 4.1Mt compared to the same period in the previous year. According to a report from AHL Research, domestic dispatches declined by four per cent YoY to arrive at 3.5Mt. The fall in domestic dispatches was due to subdued demand due to high inflation. Local dispatches of the north were recorded at 2.9Mt, a fall of 1 per cent YoY, whereas the south experienced a drop of 16 per cent YoY, settling at 0.6Mt. Ex... |
Cement prices fall in Pakistan16 January 2024, Published under Cement NewsCement prices across Pakistan have declined over the last week, according to the Pakistan Bureau of Statistics, bringing welcome relief to builders and developers across the country. The average retail price of a bag of cement in the northern regions of Pakistan has fallen from PKR1246 (US$4.45) last week to PKR1238 this week, a contraction of 0.57 per cent, reports Samaa. In the southern regions, the average price declined from PKR1192 to PKR1191, a drop of 0.07 per cent. Prices con... |