Cement News tagged under: Pakistan
Pakistan export volumes rise in 4MFY13-1427 November 2013, Published under Cement NewsPakistan export volumes have increased in the first four months of the current fiscal compared to the same period a year ago, but October volumes were down on a monthly and annual basis. During the first four months of the current fiscal, Pakistan exported 3.159Mt of cement on revenues of US$190.08m, data from the country’s Bureau of Statistics shows. This translates to a 7.42 per cent YoY increase in volumes but a marginal decline of 0.04 per cent in value terms. However, in terms o... |
Bestway and Mustehkam Cement complete merger27 November 2013, Published under Cement NewsPakistan cement producers Bestway Cement and Mustehkam Cement have announced the completion of their merger into a single company. Mustehkam Cement has been a subsidiary of Bestway Cement since in 2005 and the main of objective of this new merger is to operate the businesses under one management to achieve economies of scale. The merger would result in administrative and procurement savings and reduce marketing costs leading to enhanced profitability, the companies said when the move was f... |
UGTA strike impacts Pakistan cement exports, raw material supplies15 November 2013, Published under Cement NewsAn indefinite strike by Pakistan’s Goods Transporters Alliance (UGTA), now in its 10th day, is impacting the delivery of cement exports as well as raw material supplies. Export consignments from cement factories to the Karachi and Muhammabd Bin Qasim ports in the Sindh Province have been disrupted due to the non-availability of trucks. Supplies of raw materials to cement factories from the ports also remain suspended. The MV Alam Sayang vessel is waiting at Port Qasim to load cement. M... |
Pakistan cement sector 1Q earnings rise 14%06 November 2013, Published under Cement NewsPakistan's cement sector earnings rose by 14 per cent in the first quarter of the current fiscal with nine of the country's leading producers posting higher growth. Lucky Cement, DG Khan, Fauji Cement, Maple Leaf Cement, Attock Cement, Pioneer Cement, Cherat Cement, Kohat Cement, Facto Cement together constitute 68 per cent of the sector’s market capitalization. Analysts at JS Research attribute the increased profitability to increasing margins and a reduction in financial costs due to ... |
Lucky Cement first-quarter profit up 26%31 October 2013, Published under Cement NewsPakistan’s largest cement producer, Lucky Cement, reported a rise in profit of 26 per cent in the first quarter of the current fiscal. The company recorded after-tax profit of PKR2.54bn (US$23.8m) or earnings per share of Rs7.87 compared to profit of PKR2.01bn or EPS of Rs6.23 in the previous quarter. Revenues rose 20 per cent YoY to PKR10.6bn in the first quarter of 2013-14 against sales of PKR8.85bn in the same period of last year. Operating cost fell 22 per cent to PKR975m, which wa... |
Pakistan September export volumes ahead28 October 2013, Published under Cement NewsPakistan achieved double-digit rises in both export volumes and revenue in September compared to the month before, data from the Bureau of Statistics shows. Exports during September 2013 totalled 919,150t on revenues of US$52.41m compared to 765,917t at US$45.30 in August. This translates into a 20.1 per cent rise in terms of volumes and 15.71 per cent increment in foreign exchange revenue. On a YoY basis, volumes rose by 9.87 per cent compared to 836,585t in September 2012, but the va... |
Fauji 1Q boosted by higher sales and prices22 October 2013, Published under Cement NewsPakistan-based producer Fauji Cement reported a 61 per cent rise in profit after tax for the first quarter of the current Pakistan fiscal year to PKR582m (US$5.4m), as higher volumes and prices boost sales. According to analysts at Summit Capital, the company performed well due to sharp increase in its top line which was up by 12 per cent YoY and improved gross margins due to higher cement prices and lower coal expenses. Higher prices and increased sales volumes were the core factors beh... |
Lafarge Pakistan plans to issue shares16 October 2013, Published under Cement NewsLafarge Pakistan Cement Ltd has called an extraordinary general meeting on 29 October 2013 to seek approval from shareholders to make arrangements to settle an outstanding payment of PKR1.434bn (US$13.5m). According to company, this amount represents technical and managerial support provided to the company by Pakistan Cement Holding Ltd (PCHL) which is payable in foreign currency. The continuous devaluation of Pakistani Rupee is posing increasing exchange losses to the company. With the co... |
Lucky Cement wins Green Supply Chain Award, Pakistan14 October 2013, Published under Cement NewsPakistan's leading producer, Lucky Cement, has won the Green Supply Chain Award for its sustainable operations and logistics network at the 3rd International Shipping, Logistics and Supply Chain conference held in Karachi. The conference and awards were organized by the Publicity Channel with the support of United Nations Environment Program (UNEP) in acknowledgment of the companies that are making sustainability a core part of their supply chain strategy. Commenting on this latest acc... |
Pakistan: cement prices rise02 October 2013, Published under Cement NewsElectricity tariffs and other inflationary pressures have put pressure on cement manufacturers in Pakistan to increase cement prices. Cement producers have increased their prices by PKR15-20/50kg bag (US$0.14-0.19), a brokerage house reported yesterday. “Local cement prices have increased by 15-20 per 50kg bag, an increase of three to four per cent, over average retail prices that are currently hovering around PKR497.88 per bag,” Abia Zaidi at Shajar Capitals, said. Going forward, with ce... |