Cement News tagged under: Bestway Cement
Bestway Cement commissions solar power plant30 June 2021, Published under Cement NewsPakistan’s Bestway Cement and Reon Energy Ltd commissioned a 14.3MW captive solar power project at the producer’s unit in Farooqia, Khyber Pakhtunkhwa. The plant is reportedly part of a 50MW project deal dispersed across Bestway’s four locations in Farooqia, Chakwal, Kallar Kahar and Hattar. The new solar power plant is expected to generate around 78,385MWh annually, which would cut around 1Mt of CO 2 equivalent emissions over the lifetime of the project. |
Bestway Cement to set up greenfield cement plant in Punjab27 May 2021, Published under Cement NewsBestway Cement Ltd has informed the Pakistan Stock Exchange on 27 May that it is setting up a greenfield cement plant with a clinker capacity of 7200tpd, near Paikhel, Mianwali, Punjab province. Company Secretary, Sehar Husain, added that the plant would have a 9MW waste heat recovery plant built by Sinoma International Engineering Co Ltd of China. In addition, all necessary regulatory approvals and financial arrangements have been secured. However, no time frame of completion wa... |
Bestway reports 31% drop in FY19-20 turnover16 September 2020, Published under Cement NewsPakistan-based Bestway Cement reported a gross turnover of PKR63.7bn (US$383.4m) in the financial year ended 30 June 2020, down 19 per cent YoY when compared with PKR79bn in FY18-19. Net turnover fell 31 per cent from PKR53.6bn to PKR37.1bn. Gross profit for the year decline from PKR16bn in FY18-19 to PKR1.1bn in FY19-20. Profit after tax dwindled to PKR0.5bn from PKR10.1bn in the previous financial year. The declining results have been attributed by a significant drop in prices, a substan... |
Mixed pattern in financial results visible in 9MFY2027 April 2020, Published under Cement NewsThree more Pakistani cement companies have announced their 9MFY19-20 financial results. Lucky Cement Ltd has reported a lower profit, while Maple Leaf Cement Factory Ltd (MLCF) and Bestway Cement Ltd have reported losses during this financial period. The obvious reason is attributed to increase in cost of sales alongside other unavoidable negative business factors. Lucky Cement Lucky Cement reported that with the current economic challenges due to COVID-19 and post relaxation lockdown in... |
Five Pakistan cement producers to release 3Q results amid coronavirus pandemic17 April 2020, Published under Cement NewsPakistan's leading cement companies are scheduled to announce on 23 April their financial results for the 3QFY19-20 ended 30 March 2020. Analysts anticipate mixed results, carrying some negative reflection of mitigation efforts to stop the spread of the coronavirus in the country. During this accounting period, the pandemic started to spread and the government enforced lockdown to control it in all provinces, aiming social distancing. This later triggered the closure of some cement plants... |
Bestway's CEO takes seat in UK House of Lords06 November 2019, Published under Cement NewsBritish-Pakistani businessman Lord Zameer Choudrey has formally taken his seat in the House of Lords with a pledge to use his position to work towards improving trade relations between Pakistan and the UK. As the Chief Executive of Bestway Group, Lord Choudrey manages Bestway Cement Ltd, United Bank Ltd and MAP Rice Mills, aside from owning Bestway Wholesale in the UK, Well Pharmacy, real estate investments, and a string of retail outlets, plus ethnic food and beverage import and distribut... |
Bestway Cement’s profits sharply eroded in 1QFY1918 October 2019, Published under Cement NewsBestway Cement Ltd (BWCL) of Pakistan has announced its financial results for the 1QFY19, ended 30 September 2019. It declared a net profit of PKR300m (US$1.97m) against PKR2.257bn earned in the same period last year. It shows 1Q profit plummeted by 86.7 per cent YoY. The fall in profit is reportedly due to a dip in the company's sales and a modest increase in finance costs as shown in the financial results sent to the Pakistan Stock Exchange. BWCL's sales stood at PKR15.47bn in July-Septem... |
Bestway Cement wins Annual Environmental Excellence Award 201916 July 2019, Published under Cement NewsBestway Cement Ltd (BCL) has won the16th Annual Environment Excellence Awards 2019 for its vision and effective implementation of environmentally-friendly policies at all of its four plants in Hattar, Farooqia, Chakwal and Kallar Kahar, Pakistan. The event was organised last week in Karachi by the National Forum for Environment and Health (NFEH). Bestway is a pioneer in establishing Pakistan’s first waste heat recovery power plant (WHRPP) at a cost of US$47m. It is one of the few companies... |
Bestway Cement earns higher profit in 1HFY1925 February 2019, Published under Cement NewsBestway Cement Ltd (BCL) has announced its financial results for the half year ended 31 December 2018. BCL declared earnings of net profit of PKR6.88bn (US$49.7), increased by 11.07 per cent YoY, as compared to PKR 6.19bn earned in the same period last year. Muhammad Irfan Anwar Sheikh, Bestway Cement's director and CFO, has informed the Pakistan Stock Exchange (PSX) that net sales of BCL during the 1HFY18-19 increased to PKR40.34bn from PKR38.44bn during this period. It incurred a hi... |
Bestway Cement FY1Q19 earnings fall25 October 2018, Published under Cement NewsBestway Cement Lts (BCL) announced its financial results for 1QFY19 on 22 October. It posted earnings of PKR2.25bn (US$16.9m) during this period, down by 24.6 per cent YoY. According to a filing of company to Pakistan Stock Exchange (PSX), its net sales also fell by 6.71 per cent to PKR 17.4bn from PKR18.66bn during this period, on YoY. Domestic cement companies are feeling the effects of the rise in input costs, stemming from higher global coal prices and the domestic impact of the rupe... |