Cement News tagged under: Pakistan
Northern Pakistan market suffers slowdown15 May 2012, Published under Cement NewsConstruction activity in northern Pakistan has witnessed a sharp downturn resulting in a huge fall in both cement sales and prices, the Business Recorder reports. The slowdown comes on the back of harvest season and other developments including load-shedding, rains and shortage of labour, the daily reports. Industry sources say daily dispatches have reduced to a mere 60,000t from about 80,000t. The sharp fall in demand and the resultant over-supply have seen price declines of PKR20-25/bag... |
Lucky Cement to receive approval for wind farm investment, Pakistan14 May 2012, Published under Cement NewsPakistan cement producer Lucky Cement is to set to receive approval at an extra-ordinary general meeting on 31 May for an investment in the associated company Yunus Energy Ltd which is establishing a 50MW wind power plant in Sindh. The Pakistan Banker reports that Lucky Cement plans to make an investment of PKR385m (US$4m), divided into 38.5 million ordinary shares of PKR10 each. |
Pakistan domestic sales rise, exports fall08 May 2012, Published under Cement NewsFigures from the All Pakistan Cement Manufacturers Association showed that total cement dispatches for the first 10 months of the current fiscal were 26.64Mt, 3.31 per cent higher than the corresponding period of the last fiscal. While domestic sales during this period increased 8.51 per cent exports registered a decline of 8.91 per cen. Exports from the south showed a steeper decline of 15 per cent YoY much of which is attributed to lower exports via sea, which can be explained by excess... |
Pakistan: FY12 to be a fortunate year for the entire cement industry04 May 2012, Published under Cement NewsPakistan cement sector profitability is on the recovery path due to higher local dispatches and rising prices. Low-tier companies are also on the way of recovery. Researching domestic sector profitability for 9MFY12 by reviewing the accounts of the 17 companies representing 98% of the listed sector market capital, leading brokerage house InvestCap Research has suggested that FY12 to date could be considerate particularly good year for Pakistani cement producers. The top line of the sector... |
Lucky Cement nine-month net profit rise, Pakistan30 April 2012, Published under Cement NewsLucky Cement has reported net profit of PKR4.68bn (US$51.5m) for the nine-month period ending 31 March 2012, representing an 89 per cent rise compared to the PKR2.47bn earned in the corresponding period last year. Earnings per share during the nine month period were PKR14.49 against PKR7.65 last year. Net revenue rose 29% to PKR 24bn primarily due to higher factory prices and a two per cent rise in sales. Distribution expenses remained flat and a 29 per cent decline in financial expens... |
Lucky Cement to construct Iraq grinding plant27 April 2012, Published under Cement NewsPakistan’s Lucky Cement is to construct a 0.87Mt grinding plant in Iraq through a joint venture, according to reports by the Associated Press of Pakistan. The company is to invest US$15m in the cement plant which is estimated to cost US$30m. The technical and financial evaluation of the proposed project has already been carried out by the team of experts. Similarly, the board also decided to invest in the equity of its newly incorporated associated company Yunus Energy Ltd, a 50MW wind fa... |
Pakistan cement exports earn US$339m in 9MFY2011-1225 April 2012, Published under Cement NewsDuring 9MFY2011-12 (July-March), Pakistan cement exporters saw recovery in cement exports in terms of value. In Pakistani currency, the export also rose by 6.06%. In addition, the average cement price improved. The Pakistan cement manufacturer and exporters exported 6.51Mt of cement and earned US$339.208m compared to 6.72Mt at US$329.696m in the corresponding period last year. The figures indicate that cement exports fell by 3.07% in terms of volumes but increased 2.89% in terms of dolla... |
Pakistan: cement import starts through ICP23 April 2012, Published under Cement NewsThe newly-opened Integrated Check Post (ICP) has received its first Pakistani cement imports from the road route, but traders continue to be unhappy over the high handling charges. Earlier, India was importing cement through the rail route and shifting to the road route is being seen a boost for the trade. Unhappy with the high handling charges at the ICP, the exporters and importers held a meeting with the officials on Friday, but it remained inconclusive. Traders claimed that charges are... |
Pakistan’s DG Khan Cement swings to net profit19 April 2012, Published under Cement NewsDG Khan Cement, Pakistan’s second-biggest producer, swung to a third-quarter profit thanks to an increase in prices. Net income in the three months ended March 31 was PKR754.6m (US$8.3m), compared with a loss of PKR5.32m in the same period a year ago, according to a statement to the Karachi Stock Exchange. Sales rose 21 per cent to PKR6.23bn. |
Fauji Cement reports drop in profit, Pakistan17 April 2012, Published under Cement NewsPakistan cemet producer, Fauji Cement Company, has reported a lower profit after tax of PKR140.391m (US$1.55m) during nine months ending 31 March, 2012. According to financial results sent to the Karachi Stock Exchange, pre-tax profit fell to PKR286.417 due to higher financial costs during the period under review compared to PKR369.294m in the same period last year. Earnings per share also dropped to PKR0.109 compared to PKR0.438 in 2011. |