Cement News tagged under: Cherat Cement
Cherat Cement posts strong financial results for 1QFY24-2501 November 2024, Published under Cement NewsCherat Cement Co Ltd (CHCC) submitted its financial results for 1QFY24-25 to the Pakistan Stock Exchange (PSX) on 28 October. The company reported a profit after tax of PKR2.9bn (US$10.44m), representing an 88 per cent YoY increase. Company Secretary, Asim H Akhund, highlighted that domestic demand for cement decreased by 19.7 per cent YoY during the review period. However, when compared with the year-ago period exports continued to grow by 22.3 per cent, primarily driven by a 23.3 per cen... |
Cherat Cement Co appoints Azam Faruque as CEO18 October 2024, Published under Cement NewsCherat Cement Co Ltd has announced key executive appointments following its recent board elections. According to information from the Pakistan Stock Exchange (PSX), Omar Faruque has been re-appointed as chairman, while Azam Faruque will continue as chief executive officer. Both executives have been re-elected for a three-year term, starting on 16 October 2024. The appointment of Omar Faruque as chairman underscores the company's focus on maintaining strong governance and long-term lead... |
Cherat Cement exports increased by 22% in FY2403 October 2024, Published under Cement NewsCherat Cement Co Ltd has released a detailed report for FY24. The 43rd Annual General Meeting will be held on 16 October 2024, to approve the account for the same financial year. The company will consider and approve the payment of the final cash dividend at 40 per cent (PKR4 per share). This is in addition to an interim cash dividend at 15 per cent (PKR50 per share) already paid to the shareholders for the financial year ending 30 June 2024, as the Board of Directors recommended. Accor... |
Cherat Cement reported an increase in profit by 25% in FY23-2423 August 2024, Published under Cement NewsCherat Cement Co Ltd of Pakistan has announced its financial results for the year ended 30 June 2024. It reported an increase in profit after tax to PKR5.49bn (US$) from PKR4.40bn earned in the corresponding period last year. This reflects a growth of 24.9 per cent YoY, which was possible during this period due to higher sales, according to financial results posted on the Pakistan Stock Exchange (PSX) on 22 August 2024. The fall in financial cost also contributed to a strong profit. The... |
Cherat Cement exhibits mixed financial results in 3QFY23-24 and in 9MFY2409 May 2024, Published under Cement NewsCherat Cement (CHCC) reported net profit after tax (NPAT) of PKR1.2bn (US$4.32m) in 3QFY23-24, down 33 per cent QoQ and flat sequentially. This brings the 9MFY23-24 NPAT to PKR4.6bn, up 12 per cent YoY. Earnings per share reached PKR6.40 in the 3QFY23-24 and PKR23.90 in hte 9MFY23-24. In quantitative terms, the company's total sales volume dropped by 11 per cent (1.974Mt), with domestic sales declining by 14 per cent and exports rising by 18 per cent from last year. Operating pe... |
Kohat Cement Co's enhances Line 2 capacity and plans solar project01 April 2024, Published under Cement NewsKohat Cement Co (KOHC) has recently completed the BMR of its Khyber Pakhtunkhwa Line 2, enhancing its line capacity to 2.1Mta from 2Mta previously, taking total capacity to 5.2Mta, as well as improving its efficiency by ~10 per cent, matching that of Line 3, according to AKD Research. Furthermore, a second solar unit with 15MW capacity is in the pipeline, expected to be commissioned in the 1QFY24-25. With the commissioning of this project, the company’s solar energy will increase up to 1... |
Cherat Cement saw 12 per cent profit growth in 1HFY23-2420 February 2024, Published under Cement NewsCherat Cement (CHCC) has recently uploaded its financial results to the Pakistan Stock Exchange (PSX) website. The company reported a 2QFY23-24 net profit after tax (NPAT) of PKR1.9bn (US$m12.2m), up 20 per cent YoY and 22 per cent QoQ. This result takes 1HFY23-24 NPAT to PKR3.4bn, up 12 per cent YoY. The positive result was possible due to increased gross margin and other income as well as a cut in financial costs during the three and six months. The company posted net sales of PKR20.... |
Cherat Cement reported profits up by 3% in 1QFY23-2425 October 2023, Published under Cement NewsCherat Cement Co Ltd (CHCC), subsidiary of Gulham Faroque Group , has announced its financial results for the 1QFY23-24 ended 30 September 2023. It reported an increase in profit after tax to PKR1.53bn (US$5.47m) from PKR1.48bn earned in the corresponding period last year. This reflects a growth of 3.4 per cent on a YoY basis, according to CHCC financial results posted on the Pakistan Stock Exchange on 23 October. The substantial increase in profitability can be attributed to lower... |
Gas price increase expected for Pakistan's cement industry24 October 2023, Published under Cement NewsAccording to local reporters, Pakistan's government will likely increase gas prices for commercial and domestic users to meet some conditionality of the IMF programme and overcome losses of gas utility companies, gas price adjustments, and gas sector circular debts. The increase in gas prices would also be effective in the cement industry. The Economic Coordination Committee (ECC) is expected to approve gas price increases across the board (excluding protected consumers). The hikes range fr... |
Cherat Cement's local dispatches fall while exports rise02 October 2023, Published under Cement NewsThe management of Cherat Cement Co Ltd ( Gulham Faruque ) held a corporate briefing session on 28 September 2023 to discuss the financial performance during FY23 and its outlook. To recall, the company posted earnings of PKR4.4bn (US$15.3m) in FY23 compared to PKR4.5bn in the previous year, a decline of one per cent YoY. The annual decline was due to higher financial charges and taxation, as presumed by AKD Research and AHL Research. Dispatches local/export In terms of sales volumes... |