Cement News tagged under: Pakistan
Cement scripts financial results season at PSX23 April 2020, Published under Cement NewsAccording to a report issued by Al Habib Capital Markets (Pvt) Ltd, Pakistan's leading cement companies, including Maple Leaf Cement, Lucky Cement, DG Khan Cement and Kohat Cement Co, are all set to announce their 3QFY20 financial results on 23 April 2020, while Cherat Cement Co is scheduled to declare its 3QFY20 financial result on 28 April 2020. Cement sector earnings are expected to fall in 3QFY20when compared with the year-ago period, according to Al Habib analysts. The research house... |
Bestway Cement donates PM's Corona Fund22 April 2020, Published under Cement NewsMuhammad Irfan A Sheikh, CFO of Bestway Cement Ltd, met Pakistan's Prime Minister, Imran Khan on 20 April and contributed PKR205m (US$1.28m) in PM's Corona Fund on behalf of the group and his family to support the government in its efforts to fight the current coronavirus-related crisis. On the occasion, PM Imran Khan lauded the spirit shown by the Bestway Group and Irfan Ellahi for the relief fund. Bestway Group valiantly enlists businesses in Pakistan as the largest cement manufacturer (... |
Net FDI to Pakistan continues to contract in cement and construction in 9MFY2022 April 2020, Published under Cement NewsThe State Bank of Pakistan (SBP) has released foreign direct investment (FDI) data for the nine months of the current financial year 2019-20 and March 2020. It shows that the country received a higher FDI of US$2.696bn against US$2.146bn in the corresponding July-March period of the last fiscal year of 2018-19. The March alone it attracted US$319.8m. However, in 9MFY20 net FDI amounted to US$2.148bn, up 137 per cent from US$905.1m in the corresponding period of the last fiscal year. Chin... |
Coronavirus impacts Pakistani cement trade21 April 2020, Published under Cement NewsThe exports of clinker and cement from Pakistan to Afghanistan, Bangladesh, Sri Lanka and rest of the world have been impacted by the lockdown, curfew and other measures to stop the spread of the coronavirus in these countries. This was disclosed by Irfan Amanullah, senior general manager, Attock Cement Pakistan Ltd (ACPL), during a presentation of Cement Sector Outlook, organised by BMA Capital in Karachi. He attributed the disruption due to a number of reasons and said no exports were be... |
Fauji Cement 9M profit drops 88%21 April 2020, Published under Cement NewsPakistan-based Fauji Cement Co Ltd (FCCL) saw its 9MFY19-20 profit, for the period ended 31 March 2020, fall 88 per cent to PKR271m (US$1.7m) when compared with the year-ago period as sales declined due to the impact of COVID-19. The company’s topline contracted by 25 per cent YoY to PKR3.93bn in the 3QFY19-20 as dispatches shrank by two per cent to 706,000t and prices softened. Domestic sales fell by 10 per cent YoY to 623,000t, according to Pakistani new service The News. The 3Q result... |
No coronavirus impact on cement revenue in 9MFY20 but March data dispersed in Pakistan20 April 2020, Published under Cement NewsThe Federal Bureau of Statistics of Pakistan has released cement export data for the nine-month period of July 2019-March 2020 (9MFY19-20). It carries more or less same trend of eight months and does not show any significant impact on overseas dispatches amid the spread of coronavirus in country. However, exports in March 2020 show a contraction due to the lockdown during the latter half of the month, which continues. Pakistan’s cement industry has earned an export revenues of US$210.07m ... |
DG Khan resumes operations at Khairpur20 April 2020, Published under Cement NewsPakistan-based DG Khan Cement Co has resumed production at its Khairpur cement plant in Chakwal, said the company in a statement to the Pakistani Stock Exchange on Friday. Operations have been resumed as a result of the relaxation of the lockdown for the construction industry. |
Five Pakistan cement producers to release 3Q results amid coronavirus pandemic17 April 2020, Published under Cement NewsPakistan's leading cement companies are scheduled to announce on 23 April their financial results for the 3QFY19-20 ended 30 March 2020. Analysts anticipate mixed results, carrying some negative reflection of mitigation efforts to stop the spread of the coronavirus in the country. During this accounting period, the pandemic started to spread and the government enforced lockdown to control it in all provinces, aiming social distancing. This later triggered the closure of some cement plants... |
Top management changes at Fauji Cement in Pakistan17 April 2020, Published under Cement NewsFauji Cement Company Ltd (FCCL) has made top important changes in management, earlier this week, according to formal bourse filling to the Pakistan Stock Exchange (PSX). Waqar Ahmed Malik has been appointed as director and chairman of FCCL with effect from 9 April 2020, in place of Lt Gen Syed Tariq Nadeem Gilani, (Retd). It addition, with effect from 9 April 2020, the company board will be joined by Lt Gen Muhammad Ahsan Mahmoud, (Retd) as CEO, MD and executive director. Non-executive ... |
State Bank of Pakistan reviews cement industry performance in 1HFY2015 April 2020, Published under Cement NewsThe State Bank of Pakistan has released its second quarterly report of FY20 (July 2019-June 2020) on the state of Pakistan's economy on 14 April. The report reviewed the performance of all sectors and appreciated the cement industry's progress, but pointed out the challenges of the coronavirus on all industries. According to the report, the global and domestic spread of COVID-19 has brought an exceptional set of challenges for the country. The spillovers from the global economy and the in... |