Cement News tagged under: Pakistan
Kohat Cement Company’s profit advances 53% in FY23-2409 September 2024, Published under Cement NewsPakistan’s northern cement producer, Kohat Cement Co Ltd (KOHC), announced its financial results for FY23-24 on the Pakistan Stock Exchange website on 5 September. The company posted a profit after tax (PAT) of PKR8.89bn (US$31.9m), up 53 per cent from last year. The highest-ever annual earnings were possible due to the growth of other income, which increased by 114 per cent to PKR4.45bn during this robust performance. However, net sales decreased to PKR38.64bn from PKR38.92bn, and the co... |
Pakistan cement dispatches witness 26% drop in August06 September 2024, Published under Cement NewsTotal cement dispatches in Pakistan declined by 25.7 per cent to 3.37Mt in August 2024 when compared with 4.53Mt in August 2023. According to the All Pakistan Cement Manufacturers Association (APCMA), domestic dispatches fell by 27.6 per cent to 2.75Mt in August 2023 from 3.8Mt in the year-ago period. Total exports were also down, by 16 per cent, with volumes decreasing to 613,857t from 730,755t over the same period. North-South breakdown In August 2024 cement mills based in the north ... |
Fauji Cement Co earns its highest-ever profit in FY2428 August 2024, Published under Cement NewsFauji Cement Co Ltd posted its financial results for 4QFY24 and FY24 on the Pakistan Stock Exchange’s website on 27 August 2024. The company earned a profit after tax of PKR8.2bn (US$29.44m) (FY23 - PKR7.4bn), the highest ever in its history. Top officials attribute that this is despite an additional charge of deferred tax amounting to PKR1.8bn on account of the latest amendment made in tax laws, where income tax on exports has been changed from presumptive tax (deducted at the time of exp... |
Pakistan cement industry challenges ahead27 August 2024, Published under Cement NewsAccording to IMS Research, the industry has shifted toward cost optimisation in the absence of strong growth prospects and rising energy costs. Companies plan to improve their power mix by shifting toward cheaper options (coal), thus depicting sharp earnings in the results ahead. Analysts assumed that domestic demand for cement has been weak in the past three years (average YoY growth of -7.2 per cent) and is anticipated to recover gradually (by two per cent YoY in FY25). However, industr... |
Pakistan's July exports have negative trend?27 August 2024, Published under Cement NewsAccording to the Federal Bureau of Statistics (FBS), Pakistan’s cement industry has lesser cement and clinker exports in value and volume terms during the first month of the current financial year, July 2024 (July 2024-June 2025), MoM. The cement industry earned export revenues of US$14.49m by dispatching 403,225t of clinker and cement via land and sea compared to US$29.71m from 905,801 in June 2023. According to FBS, this represents a sharp MoM fall of 51.24 per cent in US dollar terms and ... |
Cherat Cement reported an increase in profit by 25% in FY23-2423 August 2024, Published under Cement NewsCherat Cement Co Ltd of Pakistan has announced its financial results for the year ended 30 June 2024. It reported an increase in profit after tax to PKR5.49bn (US$) from PKR4.40bn earned in the corresponding period last year. This reflects a growth of 24.9 per cent YoY, which was possible during this period due to higher sales, according to financial results posted on the Pakistan Stock Exchange (PSX) on 22 August 2024. The fall in financial cost also contributed to a strong profit. The... |
Thatta Cement's profit ballooned by 502% in FY23-2422 August 2024, Published under Cement NewsThatta Cement Co Ltd of Pakistan announced its financial results for FY23-24 ended 30 June 2024, at the Pakistan Stock Exchange (PSX) on 20 August 2024. It reported an increase in profit after tax to PKR1.50bn (US$5.37m) in FY23-24 from PKR249m earned in the corresponding period last year. This reflects a profit balloon of 502 per cent during this period. The growth in the profit could be attributed to increased sales, which rose to PKR9.97bn in FY23-24 from PKR7.16bn during the yeaer-ago ... |
Lucky Cement to enter the gold and copper mining business19 August 2024, Published under Cement NewsLucky Cement Ltd is actively pursuing diversification through National Resource Ltd (NRL), which will pursue Pakistan’s copper and gold mining business. Top officials at Lucky Cement recently held a corporate briefing session to discuss the operational and financial performance for FY23-24. They stated that a pre-feasibility study is being conducted, and at least 2-3 years will be needed to understand the mining potential. The PKR8.5bn (US$30.5m), 28.8MW wind power project will come onl... |
Cement sales continue to contract in Pakistan14 August 2024, Published under Cement NewsTotal cement dispatches in Pakistan dropped 6.8 per cent YoY to 3.01Mt in July from 3.23Mt a year earlier, according to the All Pakistan Cement Manufacturers Association (APCMA). Local dispatches contracted 11.4 per cent YoY to 2.46Mt from 2.776Mt in July 2023. Meanwhile, exports expanded 21.6 per cent YoY fell in July, coming in at 449,792t down from 547,162t in the equivalent period of the previous year. North-south dispatches Domestic dispatches from cement plants in the north of Paki... |
Lucky Cement saw a significant profit rise in FY23-2412 August 2024, Published under Cement NewsLucky Cement Ltd posted its financial results for the 4QFY23-24 (April-June 2024) and FY23-24 (July 2023-June 2024) on the Pakistan Stock Exchange (PSX) website on 9 August, where it reported unconsolidated earnings of PKR28.107bn (US$100.9m), showcasing a jump of 105 per cent YoY. On a quarterly basis, net profit improved to PKR9.458bn compared to PKR2.59bn in the same period last year, a 265 per cent YoY rise. That said, consolidated earnings advanced by 34 per cent YoY, settling a... |