Cement News tagged under: Bestway Cement
Royalty issue on cement raw materials in Punjab landed in court19 August 2024, Published under Cement NewsAccording to Topline Research, Punjab-based cement manufacturers have obtained a stay order from the court against the imposition of six per cent of ex-factory cement/clinker price as royalty on limestone and argillaceous clay in a major development. However, the analyst remarked that this stay is subject to bank guarantees to be furnished by manufacturers. To avoid any unfavourable decision in the future, the Punjab manufacturers are increasing cement prices by up to INR75/bag (US$0.89/bag... |
Bestway Cement posts 6% rise in FY23-24 sales16 August 2024, Published under Cement NewsChairman of Bestway Cement Ltd , Sir Mohammed Anwar Pervez, stated that despite all the challenges, Bestway increased its market share in Pakistan and achieved a growth of six per cent in sales volumes, outperforming the industry growth of 1.6 per cent. The main factor behind the development was attributed to the company's two new production lines at Hattar and Mianwali, which became operational during the FY22-23. According to the annual report for 2024, Bestway Cement has achieved signif... |
Bestway Cement posts a fall in profit in 9MFY23-2419 April 2024, Published under Cement NewsBestway Cement Ltd (BWCL) announced its 3QFY23-24 (January-March 2024) and 9MFY23-24 (July 2023-March 2024) results on the Pakistan Stock Exchange (PSX) on 17 April 2024. The company’s net earnings stood at PKR10.31bn (US$37m) in the 9MFY23-24, down by 11.4 per cent YoY. The high cost of finance and expensive sales can be attributed to the lower profits during this period. During this period, its gross sales increased by 27.1 per cent to PKR112.11bn from PKR88.22bn. It incurred a distri... |
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. ... |
Bestway Cement Factory reports 1HFY23-24 fall in profit26 February 2024, Published under Cement NewsBestway Cement Ltd (BWCL) announced its 2QFY23-24 (October-December) and 1HY23-24 (July-December 2023) results on the website of the Pakistan Stock Exchange (PSX) on 21 February 2024. The company's net earnings at PKR6.78bn (US$24.25m) in 1HFY23-24 were down 15.9 per cent YoY. The high cost of finance, sales tax, excise duty and expensive cost of sales can be attributed to lesser profit during this period. Its gross sales increased by 31.9 per cent to PKR76.81bn from PKR58.24bn during thi... |
Bestway Cement posts PKR3.07bn profit in 1QFY23-2431 October 2023, Published under Cement NewsPakistan Cement producer, Bestway Cement Ltd (BWCL) announced its financial results for the first quarter that ended 30 September 2023, on the Pakistan Stock Exchange (PSX) website. It reported a decrease in profit after tax to PKR3.07bn (US$1.11bn) from PKR3.30bn in the corresponding period last year. The high cost of fiancé (over PKR3bn) can be attributed to lesser profit during this period. Its net sales increased by 42.65 per cent to PKR36.22bn from PKR25.39bn during this period.... |
Bestway Cement sees 16% YoY decline in cement dispatches17 August 2023, Published under Cement NewsBestway Cement Ltd has reported a 16 per cent YoY decline in total cement disptaches in the fiscal year 2023 (ended 30 June 2023) due to reduced local and export sales volumes. The company attributes the decline to fierce competition. However, Bestway retained its position as the largest cement producer and the market leader in the country on the back of its superior quality and wide product range, according to the company. The company recorded a gross turnover of PKR120bn (US$405m) in ... |
Bestway Cement earns a rising profit of PKR11.89bn in FY22-2310 August 2023, Published under Cement NewsBestway Cement in Pakistan has earned a rising profit of PKR11.89bn (US$41.39m) for the FY22-23 (July 2022-June 2023) against a net profit of PRK10.23bn reported in the same financial period of 2022 – a YoY growth of 13.6 per cent, according to the company’s financial results posted on Pakistan Stock Exchange (PSX) on 8 August. The higher profit was possible due to increased gross sales/revenue, less discount, and administrative expenses incurred during this period. The finance cost ju... |
A score of cement companies mixed financial results in 9MFY22-2315 May 2023, Published under Cement NewsSeveral of Pakistan’s cement firms have presented their financial result for the 3QFY22-23 and 9MFY22-23 in April/May 2023. During the accounting period of nine months, they reported mixed results due to a rise in the cost of sales, distribution and finance charges, etc. High inflation and political unrest also dented sales and profits. In the 9MFY22-23 Flying Cement Co Ltd reported a decrease in profit after tax (PAT) to PKR226m (US$0.79m) from PKR766m earned in the corresponding pe... |
Bestway Cement opens 2.3Mta Mianwali plant31 March 2023, Published under Cement NewsPakistan’s Bestway Cement has begun operations at its greenfield plant in District Mianwali. The plant is Bestway's eighth production line with a cement production capacity of 2.3Mta. The state-of-the-art and environmentally friendly works has its own 9MW waste heat recovery plant and 20MW solar power plant, enabling it to meet over 50 per cent of its energy requirements through green and renewable sources. Bestway is also a leader in water conservation, installing an air cooled conden... |