Cement News tagged under: Pakistan
Pakistan's cement and clinker exports rise in 4MFY24-2521 November 2024, Published under Cement NewsPakistan's cement and clinker exports have increased by 12.39 per cent to a value of US$104.61m (2.857Mt) in the first four months of the FY24-25 (July-October 2024), compared to US$93.08m (2.4Mt) during the same period of the previous fiscal year, according to the Pakistan Bureau of Statistics (PBS). The export volume also saw a significant rise of 18.7 per cent YoY. In Pakistani rupee terms, export revenue grew by a modest 8.2 per cent to PKR29.09bn (US$104.6m). A particularly positive tr... |
Kohat Cement has yet to start importing equipment for greenfield plant20 November 2024, Published under Cement NewsKohat Cement (KOHC) held its corporate briefing session last week to review its operational and financial performance in FY24. The company reported an earnings per share (EPS) of PKR45.41 (US$0.16) for the year, up 21 per cent YoY. This was driven by lower fuel costs, higher retention prices, and elevated interest rates, which resulted in healthy other income due to the firm’s healthy cash balance, as observed by IMS Research. Total dispatches were 2.6Mt, reflecting a 13.8 per cent decl... |
DG Khan Cement sees USA as most favourable cement export destination15 November 2024, Published under Cement NewsDG Khan Cement Co Ltd held its corporate briefing on 14 November to discuss its FY23-24 financial results and outlook. DG Khan earned a profit of PKR542m (US$1.94m) in FY23-24 as opposed to a loss of PKR3.6bn in FY22-23 due to lower taxation, according to AKD Research. However, sales increased by two per cent YoY to PKR66bn in FY23-24 versus PKR65bn in FY22-23 due to better retention prices. The company’s utilisation level stood at 72 per cent in FY23-24, compared to the industry’s of 55 ... |
Maple Leaf Cement is advancing to acquire a fertiliser plant in Pakistan11 November 2024, Published under Cement NewsMaple Leaf Cement Factory Ltd (MLCF) updated the Pakistan Stock Exchange (PSX) on 7 November about the hostile takeover of a fertiliser plant in Pakistan. A piece of material information from the company adds, “We would like to inform that Next Capital Limited (Manager to the Offer) has submitted a Public Announcement of Offer (PAO-CB) on behalf of Maple Leaf Cement Factory on 6 November 2024 to acquire 37.86 per cent shares (ie 160,762,209 shares) of Agritech Ltd by Maple Leaf Cement F... |
More cement firms on MSCI indexes08 November 2024, Published under Cement NewsAccording to Topline Pakistan Research, a few Pakistan stocks, including cement, will likely be added to the MSCI indexes. The analyst adds that MSCI is scheduled to announce its November 2024 Index review on 6 November 2024, effective 26 November 2024. Likely additions in November 2024 Review: In November 2024, it is expected that the likely addition of four stocks: Fauji Cement , Cherat Cement , Fauji Fertilizer Bin Qasim, and Kohat Cement . The free float market caps of these stoc... |
Pakistan's cement industry sees 9% growth in October 2024, driven by robust exports06 November 2024, Published under Cement NewsPakistan’s cement industry reported an 8.7 per cent increase in total dispatches for October 2024, reaching 4.357Mt compared to 4.006Mt in the same month last year, according to data from the All Pakistan Cement Manufacturers Association (APCMA). Local cement dispatches declined by 0.5 per cent to 3.276Mt, while exports surged by 51.3 per cent to 1.08Mt. Usama Rauf of AKD Securities Ltd commented on the data, explaining that the annual decline in local sales is primarily due to a 21 per ... |
Pakistan's cement records home export revenue of US$65.19m in 3MFY2504 November 2024, Published under Cement NewsPakistan’s cement and clinker exports value declined by 2.2 per cent to US$65.19m (1.792Mt) in the 1QFy24-25 (July-September 2024) from US$66.68m (1.676Mt) in the same period of the previous financial year, as reported by the Pakistan Bureau of Statistics (PBS). However, the export volume rose by 6.9 per cent YoY. The same trend was noticed in Pakistani rupee terms when export revenue saw a single-digit fall of 6.9 per cent to PKR18.14bn. A positive trend was observed in September 2024 wh... |
Kohat Cement Co reports strong profit for 1QFY24-2504 November 2024, Published under Cement NewsThe directors of Kohat Cement Co have issued the unaudited condensed interim financial statements for the first quarter ended 30 September 2024. The report reveals that during this period, the company experienced a 22.3 per cent decline in sales volume, totalling 591,620t. However, net profit surged to PKR3.439bn (US$12.39m) after tax, marking a remarkable increase of 54.28 per cent YoY. The company attributes this strong profit to improved sales prices and effective cost management, enhan... |
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... |
Pioneer Cement Ltd sees double-digit profit growth in 1QFY24-2530 October 2024, Published under Cement NewsPioneer Cement Ltd announced its 1QFY24-25 financial result on the Pakistan Stock Exchange’s website on 29 October. It reported earnings of PKR1bn (US$3.5m), up 10 per cent from PKR0.9bn in the previous period. Based on the result, AKD Research reported that PIOC revenue clocked in at PKR7.9bn, a nine per cent YoY decline from PKR8.7bn in the same period last year. The decrease in turnover is attributed to a 23 per cent YoY drop in sales. However, this was partially mitigated by a 17 pe... |