Cement News tagged under: Pakistan
Fecto Cement refutes mining lease cancellation claims25 March 2015, Published under Cement NewsFecto Cement Ltd has informed Karachi Stock Exchange (KSE) that its factory in Sangjani, Pakistan, is operating under normal conditions and dispatches are being carried out as usual. The company has refuted local media reports that production has been suspended due to the environmental degradation of the Margalla Hills Nationl Park. It has also denied receiving a letter from Bashir Ahmed, director Industries and Labour, ICT, Islamabad, informing the company of a cancellation of its mining... |
Cherat’s first-half boosted by domestic deliveries17 March 2015, Published under Cement NewsCherat’s Cement’s domestic sales increased by 10 per cent during the first half of the current Pakistan fiscal boosted by strong construction activity. Total dispatches over the period rose by four per cent, as exports to Afghanistan declined by six per cent. Turnover increased by four per cent. During the six months under review, production costs escalated mainly due to significant upward revision in electricity tariff, and imposition of fuel price adjustment levy. However, improved liqu... |
Attock Cement to remit US$24m Iraqi project16 March 2015, Published under Cement NewsAttock Cement Pakistan Limited (ACPL), Pakistan, one of Pakistan’s largest cement manufacturers and exporters, has received government approval to remit US$24m as an equity investment for the establishment of a cement grinding unit in Basra, Iraq. The permission was given by the the country's finance minister, Senator Mohammad Ishaq Dar, who chaired the meeting of the Economic Coordination Committee (ECC) of the cabinet at the Prime Minister’s Secretariat on 15 March. An official governme... |
Pakistan shipments advance over first eight months06 March 2015, Published under Cement NewsTotal cement shipments over the first eight months of the current Pakistan fiscal (July-February 2015) rose eight per cent YoY, according to data by the All Pakistan Cement Manufacturers’ Association. The advance was led by domestic sales which climbed 11 per cent YoY to reach 17.4Mt. Exports, however, declined one per cent to 5.12Mt over the same timeframe, with contrasting results in the north and south. February sales update During February 2015, total dispatches rose by seven per cen... |
Bestway Cement first-half profit up 5% YoY05 March 2015, Published under Cement NewsBestway Cement of Pakistan has posted a five per cent rise in half-year net profit to PKR3.94bn compared to PKR3.75bn (US$36.8m) in the comparative period of the previous fiscal . The second quarter (October-December 2014) proved better for the company as it earned PRK2.34bn, up 12.5 per cent YoY. Bestway Cement has three plants in the north of the country (one in Chakwal and two in Hattar) and a current production capacity of 5.9Mta. In July 2014, however, Bestway secured the purchase of... |
Pakistan sales seen rising 8% in FY15 on higher domestic demand03 March 2015, Published under Cement NewsPakistan cement sales are expected to rise by six per cent in the first eight months of the current fiscal, The Express Tribune reported citing provisional data compiled by Topline Securities. However, monthly cement sales are expected to decline three per cent in February to 2.8Mt compared to the month before due to the fewer number of days. However, on an annual basis the figure would translate to 2.6 per growth. Cement exports to Afghanistan, Pakistan’s largest export market, have rema... |
PIBTL board approves terminal capacity expansion, Pakistan27 February 2015, Published under Cement NewsThe board of directors of Pakistan International Bulk Terminal Ltd (PIBTL) on Wednesday approved the expansion of overall handling capacity at the terminal from 12Mta to 16Mta. PIBT is being set up as the country’s first terminal for handling coal, clinker and cement on a build, operate and transfer (BOT) basis. The terminal will be situated at Port Qasim, 50km from Karachi on the coast of the Arabian Sea. PIBT will be able to handle and deliver coal to cement and power companies by ra... |
FECTO reports first-half loss, Pakistan27 February 2015, Published under Cement NewsPakistan-based cement producer FECTO Cement reported a 10.22 per cent drop in profit for the first six months of the current fiscal to PKR284.6m (US$2.8m). In a communication to the Karachi Stock Exchange, FECTO reported a slight rise in net sales to PKR2.39b from PKR2.32bn a year ago. The company incurred administrative expenses of PKR105.7m and distribution costs of PKR99.5m, compared to PKR85.4m and PKR107.2m in the comparative period of FY13-14. FECTO Cement operates a 0.78Mta cement p... |
Dewan Cement sales rise 23% YoY25 February 2015, Published under Cement NewsPakistan-based Dewan Cement Ltd (DCL) reported a 1.46 per cent decline in half-year profit to PKR202m (US$1.98m) compared to PKR202m a year earlier. However, sales increased by 23 per cent from PKR4.4bn to PKR5.42bn during 1HFY14-15. Distribution costs increased from PKR74m to PKR197m in half year period (July - December 2014). No cash dividend or bonus shares were earmarked for shareholders. DCL owns the Pakland Cement and Saadi Cement plants in Pakistan, which have a combined cap... |
Lucky Cement first-half profit up 8.5%23 February 2015, Published under Cement NewsPakistan's leading cement producer, Lucky Cement, reported a profit after tax of PKR5.6bn (US$55.1m) during the first half of FY14-15 versus PKR5.16bn a year earlier. During the six-month period, net sales rose nine per cent YoY to PKR21.4bn. The increase is attributed to a 9.2 per cent uptake in sales volumes to 2.02Mt, a 2.24 per cent improvement in exports to 1.23Mt and a 2.91 per cent rise in net retention. According to Al Habib Capital Markets, Lucky Cement's margins remained sta... |