Cement News tagged under: FECTO 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... |
Administrative changes at Fecto Cement and Fauji Cement11 April 2024, Published under Cement NewsFecto Cement Ltd's Company Secretary, Abdul Wahab, informed Pakistan Stock Exchange Ltd (PSX) on 8 April that Hanif Idress has been appointed as the Chief Financial Officer (CFO) of Fecto Cement Ltd in place of Abdul Samad with effect from 1 April 2024. The information is also meant for PSX TRE Certificate Holders accordingly. Meawnhile, on 8 April Fauji Cement Co Ltd (FCCL) informed the Pakistan Stock Exchange Ltd (PSX) that Lt Gen Anwar Ali Hyder, HI (M), (Retired) had been appointe... |
Fecto Cement's performance in increases 2% in 1HFY2412 March 2024, Published under Cement NewsAccording to the recently-released Fecto Cement Ltd 1HFY23-24 report, clinker production increased by 2.4 per cent during the six months. It reached 342,673t, up from 334,597t in the same period last year. Cement production increased by 21.7 per cent to 384,229t, up from 315,836t in the 1HFY22-23. The company's total sales volume for the 1HFY23-24 increased by 22.8 per cent, reaching 382,188t as against 311,129t last year. The company's local sales volume for 1HFY23-24 increased by 27... |
Fecto Cement Ltd is in discussion to install solar plant28 November 2023, Published under Cement NewsAccording to AHL Research, Fecto Cement Ltd (FECTC) management held a corporate briefing session on 24 November to discuss the FY22-23 and 1QFY23-24 financial results and future outlook. The management is in discussion of installing additional solar plants to become cost-efficient. In FY22-23 The company generated about 42 per cent of its power through captive plants, and the rest was taken from the Water & Power Development Authority. In 1QFY23-24 captive generation rose by 44 per cent. ... |
Fecto Cement reports loss in FY22-2309 October 2023, Published under Cement NewsFecto Cement Ltd has announced its financial results for the year ending 30 June 2023 (FY22-23). It shows a loss after tax at PKR133m (US$0.478m)) against the profit of PKR286m reported in FY22-23. The high cost of sales is expected to be one of the main reasons for losses. Fecto Cement ’s sales increased to PKR8.68bn in the FY22-23 from PKR6.77bn in the FY21-22. Similarly, the cost of sales rose to PKR8.36bn in the FY22-23 from PKR5.90bn in the year-ago period. The administrati... |
Fecto Cement posts 35% revenue growth02 March 2023, Published under Cement NewsPakistan’s Fecto Cement Ltd has reported revenue of PKR4145m (US$15.15m) in the six months ended 31 December 2022, marking a YoY increase of 34.8 per cent. Local sales revenue was up 32.7 per cent YoY to PKR3959m, while export revenue advanced by 102 per cent YoY to reach PKR186m. According to the company, the increase was driven by improved selling prices. Over the six-month period, Fecto Cement sold 311,129t, down 13.87 per cent YoY. Local sales volumes fell by 14.7 per cent Yo... |
Fecto Cement appoints chairman and chief executive08 November 2021, Published under Cement NewsPakistan’s Fecto Cement has appointed Aamir Ghani and Mohammed Yasin Fecto as chairman and chief executive, respectively, with effect from 1 November 2021. The appointment has been made for a term of three years, according to Pakistan Company News. |
Fecto Cement posts loss in 1HY1902 March 2020, Published under Cement NewsFecto Cement Ltd has informed Pakistan Stock Exchange that it has posted a loss of PKR299m (US$1.48m) for the half year ended 31 December 2019 as compared to profit PKR105m, earned in the same period last year. The losses are attributed to a slide in net turnover, which decreased by 22.91 per cent to PKR1.91bn from PKR2.28bn in the same period last year. The company incurred a lesser administrative expenses and distribution costs of PKR121m and PKR62m against PKR143m and PKR102m, respectiv... |
Fecto forms new subsidiary, reports fall in domestic sales27 December 2019, Published under Cement NewsFecto Cement Ltd has approved the formation of a wholly-owned subsidiary to implement the investment in a new cement plant. The Pakistani cement producer had earlier announced plants to build a 6000tpd greenfield plant and 9MW waste heat recovery power plant in Palai, Khyber Pakhtunkhwa. Completion of the project would be expected in 18 months’ time. Financial performance 1QFY19-20 In the first quarter of the 2019-20 financial year, Fecto Cement increased its clinker production by 10.4... |
Varied results for PSX listed cement producers in 1QFY19-2013 November 2019, Published under Cement NewsThe financial results of eight cement companies of Pakistan for the July-September 2019-20 period reveals that their profits shrank owing to weak sales, high financial charges and other unavoidable factors, with a few of them also sustaining losses. Industry overview In the 1QFY19-20 Pakistan's cement industry posted a marginal growth of 2.6 per cent, amounting to 11.13Mt compared with 10.85Mt last year. Local dispatches remained more or less the same, rising to 9.12Mt from 9.06Mt in th... |