Cement News tagged under: Pakistan
Pakistan: Bestway Cement pretax profits up 45%09 May 2016, Published under Cement NewsIn an earnings statement released today, Bestway Cement announced that its pretax profits for 9MFY2016 were PKR12.64bn (US$121m), up 45 per cent on the same period last year. After tax, the firm’s profits were up 49 per cent, to PKR9.24bn (US$88m). According to a report in the Nation, Bestway’s turnover rose by over 49 per cent to PKR32.91bn (US$314m). The scale of the increase was attributed to Bestway’s acquisition of Pakcem and increasing domestic demand. This was offset to a degree... |
Pakistan: Attock Cement receives PKR7bn to finance expansion04 May 2016, Published under Cement NewsAttock Cement Pakistan Limited (ACPL) has achieved another milestone of success by signing financial close amounting to PKR7bn (US$66.85m) to part finance new production line of 4000tpd of cement plant. The loan has been arranged by local Punjab Bank with the support of MCB Bank, Allied Bank, Askari Bank and United Bank Ltd. |
Pakistan: Cement exports rise to 0.53Mt in March03 May 2016, Published under Cement NewsThe All Pakistan Cement Manufacturers Association (APCMA) has welcomed the news that cement exports rose to 0.53Mt in March 2016, up 20.6 per cent YoY. Exports have risen for two months in a row, bringing to an end a long run of disappointing figures, including a YoY fall of 34 per cent in September 2015. Despite the present turnaround, exports for the year to March are down 19 per cent on the preceding 12 months. The Nation reports APCMA Chairman, Muhammad Ali Tabba, as stating that t... |
Pakistan: Maple Leaf reports earning up 49% in 9MFY1627 April 2016, Published under Cement NewsMaple Leaf Cement Factory Limited has reported earnings of PKR3.5bn (US$33m) in 9MFY16, up 49 per cent YoY. Maple Leaf’s sales rose 12 per cent YoY to PKR16.93bn (US$162m) for 9MFY16. Distribution costs and administrative expenses were also up slightly, reaching PKR1.3bn (US$13m). Earnings growth was driven by higher volumes, falling energy costs and a 52 per cent YoY decline in finance costs due to lower interest rates and deleveraging. |
Pakistan: Exports fall 24% in first nine months of 2015/1626 April 2016, Published under Cement NewsPakistan’s cement exports fell during 9MFY2016 on a YoY basis dropping by 24.4 per cent in volume terms and 28.9 per cent in US dollar values. Figures released by the Pakistan Bureau of Statistics (PBS) show that the country exported 4.6Mt of cement, earning revenue of US$248m during July-Mar 2016. This was down from the 6.0Mt exported in the corresponding period a year earlier. Average prices also fell, dropping 6.1 per cent to US$54.48/t. The All Pakistan Cement Manufacturers' Associ... |
Pakistan: Fauji Cement Co 64% growth for 9MFY15-1619 April 2016, Published under Cement NewsFauji Cement Co Ltd (FCCL), one of Pakistan's largest cement manufacturers and exporters, on April 18 reported earnings of PKR4.33bn (US$41.34m) for 9MFY16 compared to PKR2.65bn in 9MFY15, posting a growth of 64 per cent YoY. Analysts at BMA Capital Management Ltd attributed the growth in earnings firstly to a 13 per cent YoY growth in revenue due to higher dispatches and secondly to an 11 per cent growth in gross margins. The increase in gross margins can be attributed to a declining cost ... |
Pakistan: Builders hit out against high cement prices19 April 2016, Published under Cement NewsThe Chairman of Pakistan’s Association of Builders and Developers (ABAD), Hanif Gonar, has accused the country’s cement manufacturers of keeping prices artificially high. In a report in the Daily Times, Mr Gonar pointed to recent statements by the head of the All Pakistan Cement Manufacturers Association, Muhammad Ali Tabba, who claimed that taxes on gas and coal meant the industry was unable to reduce it charges. This was not the case, the ABAD chairman, insisted. He claimed that the ... |
Pakistan: Producers to invest up to US$1bn in CAPEX18 April 2016, Published under Cement NewsCement producers in Pakistan will invest between US$700m and US$1bn in expanding capacity over the next few years, according to Mohammad Ali Tabba, chair of the All Pakistan Cement Manufacturers Association. According to an interview with Mr Tabba in the Nation, four companies have already announced expansion plans: Cherat Cement; Attock Cement; DG Khan Cement; and Lucky Cement. Capacity in 2015-16 stands at 45.6Mta. Despite this investment, Mr Tabba noted that the industry was not rec... |
Attock Cement posts positive 9MFY16 results15 April 2016, Published under Cement NewsAttock Cement Pakistan Ltd (ACPL) has announced in its 9MFY16 results it earned a NET profit of PKR2.094bn during 9MFY16 (July-March) against PKR1.644bn during 9MFY15, up 27 per cent, YoY, on the back of a five per cent YoY growth in net sales and better gross profits. Al Habib Capital Markets (Pvt) Ltd, in its review report about ACPL, attributes increase in profit to rising domestic dispatches, on the back of acceleration in private sector construction activities, commencement of work o... |
Cement exports on the rise15 April 2016, Published under Cement NewsAs global cement capacity continues to rise against a limited demand increase, there is a swell of cement producers chasing ever-smaller export markets across the globe. News this week that Saudi Arabia has lifted its ban on exports will increase pressure on prices in the Middle East region. The Saudi Arabian export ban had been in place since 2012 when it was renewed from an earlier 2008 period of export control. While lifting of the ban provides a good opportunity for Saudi producers to ... |