Still awaiting the outcome of a recent court hearing regarding its privatisation and sale to the Haji Usman Ghani Group, Pakistani producer Javedan Cement reports that its financial condition is now improving after several years of losses.
In 2005, the company’s production of cement was recorded at 476,420t as compared to 447,790t in the preceding financial year 2003-04, showing a 6.4 per cent increase and reaching 79.4 per cent capacity utilisation.
The diirectors also note that demand for cement has been further fuelled due to the announcement of the construction of dams and other mega projects of infrastructure coupled with the concurrence of the World Bank to support the project of dam.
The market price of the shares of cement sector is trending upward and with the full utilisation of its capacity by the company the profitability will further increase resulting in wiping out of the accumulated losses.
