Cement News tagged under: Pakistan
Pakistan: Attock Cement profits up 44%21 October 2016, Published under Cement NewsAttock Cement Pakistan Ltd (ACPL) reported that it has earned profit after tax of PKR691m (US$6.6m) in 1QFY16-17 compared to PKR481m in 1QFY16, up 44 per cent YoY. According to ACPL notice to Pakistan Stock Exchange, its sales increased to PKR 3.35bn from PKR2.86bn of same quarter last year. The company's distribution cost increased to PKR 273m and administrative expenses rose to PKR104m from PKR189m and PKR97m in a first quarter of year ago period. A local research house while comment... |
Pakistan: Fecto Cement appeals mining ban20 October 2016, Published under Cement NewsFecto Cement has requested the Islamabad High Court (IHC) to allow it to carry out stone crushing activities in the Margalla Hills, which has been listed as a national park since 1980. The cement manufacturer asked the court to declare the lease cancellation letters issued by the Islamabad Capital Territory (ICT) administration and the Capital Development Authority (CDA) null and void. The ICT issued a mining lease to Fecto Cement in 2013 allowing it to carry out stone crushing activities... |
Pakistan: Flying Cement profits up 24%12 October 2016, Published under Cement NewsPakistan's Flying Cement Co Ltd has reported that it earned profit after tax of PKR145.69m (US$1.38m) in FY16, up by 24 per cent from last year. The cement producer does not announce any cash dividend, according to a company notice to Pakistan Stock Exchange. Company sales increased to PKR2.47bn in FY16 from PKR2.22bn in FY15. Flying Cement has incurred a distribution cost of PKR5.1m and administrative expenses of PKR26.39m, compared to PKR4.7m and PKR25.35m, respectively in corresponding ... |
Pakistan: cement sales rise by 3.6% in September07 October 2016, Published under Cement NewsThe All Pakistan Cement Manufacturers Association (APCMA) has announced that cement sales in the month of September rose by 3.55 per cent, reports the Tribune Newspaper. While domestic demand was relatively stable – accounting for around two per cent of the growth – exports, particularly to India, played a key role in sales growth. The APCMA recorded domestic dispatches rose two per cent YoY to 2.54Mt, while exports grew by 11.8 per cent to 0.52Mt. The Association said that a new prope... |
India: Ruling BJP party leader calls for Pakistan cement ban06 October 2016, Published under Cement NewsSubramanian Swamy, leader of the BJP, has called on his colleague, Prime Minister Narendra Modi, to ban the import of cement from Pakistan, the Economic Times reports. "I request you to ban import of cement into the country not only in the interest of growth and sustenance of domestic cement industry but also in keeping with the imperatives of national security. Ban of import from Pakistan will be in the interest of the country's security in the present juncture," Mr Swamy said in a lette... |
Pakistan: FY16 earnings up 16% YoY04 October 2016, Published under Cement NewsPakistan cement industry performed well in FY16 and concluded on a positive note for the cement sector with earnings clocking in at PKR36.4bn (US$348.3m), up 16 per cent YoY. According to research house, the growth in earnings was backed by eight per cent YoY increase in revenue amid higher dispatches, increased in margins due to lower fuel and power costs and 54 per cent YoY decline in finance cost. However, 6.6 per cent YoY increase in effective tax rate due to increasing share of local ... |
Pakistan: Dewan Cement earns profits of US$14.25m03 October 2016, Published under Cement NewsDewan Cement Ltd informed Pakistan Stock Exchange (PSX) that it earned a profit after tax of PKR1.49bn (US$14.25m) in FY16 ending on 30 June 2016 compared to PKR709.66m in corresponding period last year. It translates a hefty growth of 110 per cent in profit on YoY basis. A notice duly signed by Muhammad Hanif German, company secretary and Haroon Iqbal, director, has stated that company sale was increased to PKR12.87bn in FY16 from PKR11.24bn of previous financial year. The company incur... |
Pakistan: dispatches expected to reach 3Mt in September30 September 2016, Published under Cement NewsTotal cement dispatches for Pakistan are expected to remain flat at around 3Mt for September 2016 in comparison to September 2015. In a research report, Topline Securities forecast that local sales for the month would stand at approximately 2.4Mt, a two per cent drop YoY and 20 per cent decrease MoM as a result of the monsoon in the initial days of the month. Analyst Nabeel Khursheed said, “We have excluded clinker sales to Fauji Cement, which is expected to come at 200-230,000t during th... |
Pakistan: Fecto Cement profit jumps 31.8% in FY15-1630 September 2016, Published under Cement NewsFecto Cement Ltd its financial results for the full-year period ended 30 June 2016. It reported profit after tax of PKR813.82m (US$7.78m) compared to PKR17.47m earned in corresponding period last year. This translates a growth of 31.8 per cent on YoY basis. The company declared a cash dividend of 20 per cent. The company has stated that its sales rose to PKR5.03bn from PKR4.77bn in last financial year. Thus, recorded a growth of 5.45 per cent on YoY basis. The company incurred less admi... |
Pakistan: Pioneer Cement profits up slightly in FY201628 September 2016, Published under Cement NewsPakistan cement producer Pioneer Cement Ltd has reported post-tax profits of PKR2.51bn (US$24m) for the financial year ended June 2016, a rise of 0.9 per cent YoY. In a notice to Pakistan Stock Exchange (PSX), the company stated that its net sales increased by 11 per cent to PKR9.36bn over the same period. Pioneer incurred distribution costs of PKR60m and administrative expenses of PKR81.5m, both up slightly on last year. However, the financing cost fell to just PKR17.5m, around a third o... |