Cement News tagged under: Pakistan
Pakistan's cement producers play the long game17 March 2023, Published under Cement NewsThis week ICR looks at Pakistan 's cement sector where new capacity is coming on-stream and cement producers are jostling for increased market share in the north of the country. Meanwhile, the cost of raw materials and fuel has driven cement prices up and stagnant domestic cement demand means that many producers have looked to export markets. Protecting market share in northern Pakistan is becoming increasingly challenging as cement producers in the region have unleashed a fresh stream... |
Lucky Cement builds schools and vocational centres15 March 2023, Published under Cement NewsLucky Cement Ltd has announced the successful completion of its project to build a school in collaboration with The Citizen Foundation in Pezu, Khyber Pakhtunkhwa. The Abdul Razzak Tabba Block Lucky Cement Ltd Pezu Campus-I will provide primary education, while the Muhammad Yunus Tabba Block Pezu Campus-II will provide secondary education. The admissions for the first batch of 2023 are underway. This project aligns with the UNSDG "Quality Education" and emhasises the importance of educat... |
ABAD of Pakistan send SOS to save the construction industry14 March 2023, Published under Cement NewsThe Association of Builders and Developers of Pakistan (ABAD) expressed its concern about the high and burgeoning prices of steel bars in the country and the ultimate effect on the construction industry. In an appeal, the ABAD drew the government’s attention and urged it to take immediate decisions to contain the soaring prices of steel bars. Prices of steel bars have risen from PKR195,000/t (US$694/t) to PKR310,000/t (US$1103/t)in the last 30 days. ABAD’s demands include steel bars i... |
Maple Leaf Cement becomes Pakistan's fourth largest producer13 March 2023, Published under Cement NewsMaple Leaf Cement Factory Ltd ( Kohinoor Textile Mills Ltd group ) has become the fourth-largest grey cement producer in Pakistan after its capacity now stands at 7.9Mta after the completion of its Iskanderabad plant expansion last November. The company’s domestic share in grey cement stands at 10 per cent and white cement at 90 per cent. White cement achieves good prices compared to grey cement due to a higher cost of 1.5 per cent over grey cement, positively impacting the company’s ma... |
PSX listed cement companies release financial results for 1HFY2310 March 2023, Published under Cement NewsCement companies listed in the Pakistan Stock Exchange (PSX) continue to report mixed financial results for the 1HFY22-23 (July-December 2022) of the current financial year FY22-23 (July 2022-June 2023). Although companies have reported an increase in sales, their cost of sales and bank borrowing has increased, resulting in a tightening of profit margins. According to JS Global Capital Ltd, demand improvement has given the industry room to pass some of the impact of cost growth due to the... |
APCMA releases mixed dispatches data for Feb 202307 March 2023, Published under Cement NewsPakistan’s local cement dispatches fall and exports rise in February. Commenting on the trend of dispatches, a spokesman of the All Pakistan Cement Manufacturers Association (APCMA) emphasised that the economic situation in the country is becoming more and more complicated with each passing day: "We are facing serious operational problems and need a timely supply of spare parts and consumable items to ensure the stable operation of plants." He urged the government to develop practically appl... |
Experts expect a fall in Pakistan’s cement dispatches02 March 2023, Published under Cement NewsPakistan’s total cement industry dispatches in February 2023 are likely to reach 3.8-4Mt, down 8-12 per cent YoY with local dispatches expected to be down by 10-14 per cent YoY. However, deliveries are likely to remain more or less flat MoM despite fewer working days in February 2023 (28 days), which is likely due to the resumption of construction activities after the winter. According to an assessment of Topline Securities, in the 8MFY22-23 (July 2022-February 2023), industry cement sal... |
Fecto Cement posts 35% revenue growth02 March 2023, Published under Cement NewsPakistan’s Fecto Cement Ltd has reported revenue of PKR4145m (US$15.15m) in the six months ended 31 December 2022, marking a YoY increase of 34.8 per cent. Local sales revenue was up 32.7 per cent YoY to PKR3959m, while export revenue advanced by 102 per cent YoY to reach PKR186m. According to the company, the increase was driven by improved selling prices. Over the six-month period, Fecto Cement sold 311,129t, down 13.87 per cent YoY. Local sales volumes fell by 14.7 per cent Yo... |
Pakistan manufacturers post strong 1HFY22-23 financial results27 February 2023, Published under Cement NewsAccording to the Pakistan Stock exchange (PSX), Pioneer Cement Ltd (PIOC) earned a profit of PKR1.76bn (US$6.81m) in 1HFY22-23 compared to PKR1.14bn made in the previous year’s corresponding period. This reflects a growth of 54.1 per cent YoY. PIOC's gross sales increased by 19.4 per cent to PKR25.08bn in 1HFY22-23 from PKR21bn during the same period last year. It incurred distribution expenses of PKR61m against PKR52m in the previous financial period. The administrative costs rose to P... |
Three Pakistan producers post profits in 1HFY22-2323 February 2023, Published under Cement NewsThree of Pakistan’s cement factories have posted a profit in operation between July and December of FY22-23 (1HFY22-23). However, double-digit inflation, a hike in interest rates and a sharp devaluation of the Pakistani rupee have dampened cement demand. Moreover, low GDP growth, high cost of construction materials and the cut in Public Sector Development Programmes (PSDP) saw cement dispatches decline by 21 per cent YoY in the 1HFY22-23. Fauji Cement Fauji Cement Co Ltd (FCCL) earned... |