Cement News tagged under: Pakistan
Fauji Cement appoints CEO/MD and makes resource sharing agreement with Askari Cement29 May 2020, Published under Cement NewsFauji Cement Co Ltd (FCCL) informed Pakistan Stock Exchange (PSX) on 28 May 2020 that due to expiry of employment contract of Lt Gen Muhammad Ahsan Mahmood, HI (M) (Retd), CEO/MD of FCCL on 9 June 2020, Qamar Haris Manzoor has been appointed as his replacement by the Board of Directors of Fauji Cement, says a notification signed by company secretary. He will assume the charge of this appointment with effect from 10 June 2020. Earlier, the company stated that as a result of the approval of t... |
Cement exports from Pakistan drops due to COVID-19 in 10MFY2028 May 2020, Published under Cement NewsThe Federal Bureau of Statistics (FBS) of Pakistan has released cement export data for the 10 months of July 2019 to April 2020. It visibly carries the impact of coronavirus on the cement industry in the country. Pakistan's cement industry has earned export revenue of US$223.20m by exporting 5.949Mt of cement and clinker in 10MFY19-20, compared to US$243.12m from 5.738Mt of exports in the year-ago period. This represents a 8.2 per cent decline in terms of value in dollars, but adds a grow... |
Encouraging developments for Pakistan's cement industry19 May 2020, Published under Cement NewsPakistan's cement industry saw several encouraging development last week, including the news about the implementation of Diamer Basha Dam project, reduction of interest rates by the central bank, sufficient allocation of a development fund in the upcoming budget with a sorry note of the fall in cement production during 20 March due to the direct impact of COVID-19. As a result, the stock market turned bullish on last Tuesday on the back of a sharp rally in the cement and steel stocks. In a... |
Pakistan's April dispatches hit by COVID-1907 May 2020, Published under Cement NewsAll Pakistan Cement Manufacturers' Association (APCMA) released dispatch figures for April 2020 and cumulative 10MFY19-20, showing mixed impact of COVID-19. Cement dispatches in the country have declined in April 2020 by 23.7 per cent to 3.52Mt from 4.61Mt in April 2019 as both exports and domestic markets crashed, owing to the considerable impact of COVID-19. However, total dispatches inched up by 3.5 per cent to 40.55Mt in the first 10 months of the current financial year when compared t... |
Gharibwal Cement announces 11% fall in net sales05 May 2020, Published under Cement NewsPakistan’s Gharibwal Cement has announced a 10.9 per cent YoY fall in net sales to PKR7.37bn (US$46.09m) in the 9MFY19-20 ended 31 March 2020, compared to PKR8.28bn in the year-ago period. The company also reported a net loss of PKR540.2m against a profit of PKR819.8m in the 9MFY18-19. During the January-March 2020 period, net sales declined 20.3 per cent YoY to PKR2.2bn. |
Pakistan’s Dadabhoy Cement Industries Ltd narrows 9M loss04 May 2020, Published under Cement NewsPakistan-based Dadabhoy Cement Industries Ltd reported an operating loss of PKR1.73m (US$10,796m) in the nine-month period ended 31 March 2020, compared to an operating loss of PKR8.748m in the 9MFY18-19. Loss before taxation was down to PKR2.104m in the 9MFY19-20 from PKR10.303m the previous year’s nine-month result. Loss after taxation fell to PKR2.104m in the 9MFY19-20, down from PKR11.228m in the year-ago equivalent period. |
Coal and crude prices beneficial for cement industry, says DG Khan Cement29 April 2020, Published under Cement NewsTwo of DG Khan Cement's senior management, Raza Mansha, CEO, and Farid Noor Ali Fazal, director, commented that falling coal and crude prices in international markets would reduce the cost of cement production in Pakistan, according to the company's 9MFY20 report. They also anticipate a rise in cement demand on the back of government big hydroelectric dam projects. According to the report, coal prices will remain low and may ease pressure on cost. Oil prices have hit rock bottom and are exp... |
Mixed pattern in financial results visible in 9MFY2027 April 2020, Published under Cement NewsThree more Pakistani cement companies have announced their 9MFY19-20 financial results. Lucky Cement Ltd has reported a lower profit, while Maple Leaf Cement Factory Ltd (MLCF) and Bestway Cement Ltd have reported losses during this financial period. The obvious reason is attributed to increase in cost of sales alongside other unavoidable negative business factors. Lucky Cement Lucky Cement reported that with the current economic challenges due to COVID-19 and post relaxation lockdown in... |
Mixed results announced by Pakistani cement companies for 9MFY2024 April 2020, Published under Cement NewsThree Pakistani cement companies have announced their 9MFY19-20 financial results. DG Khan Cement Co Ltd and Kohat Cement Co Ltd have reported losses, but luckily Attock Cement Ltd has reported only a fall in profit during this financial period. Analysts have attributed losses to a combination of factors, including a significant drop in retention prices in both local and export markets, an increase in finance cost, higher energy tariffs and an increase in transportation cost following the i... |
Pakistan cement productions increased in 8MFY19-2023 April 2020, Published under Cement NewsPakistan's Federal Bureau of Statistics (PBS) has released production data for the eight-month period of July 2019-February 2020 and February alone, with a note that overall output of large-scale manufacturing industries (LSMI) decreased by three per cent during the 8MFY19-20, when compared to the equivalent period of the previous year. However, cement production increased during this period on cumulative and YoY basis. In the eight-month period, Pakistani cement production increased by 4.... |