Cement News tagged under: Pakistan
Cement companies' scripts attracting investors in Pakistan03 October 2019, Published under Cement NewsA number of Pakistan cement sector companies listed on the Pakistan Stock Exchange (PSX) are performing well on heels of good news for the last two days. According to local research house market reports, the PSX 100 Index gained another +109.03pts or +0.34 per cent in 2 October session, thanks to a late session rally in Financials (+1.16 per cent) and Materials (in particular cements). Cement was in the driving seat today right from the start on news flow that the government is consideri... |
Attock Cement's perceptions for Pakistan's cement industry02 October 2019, Published under Cement NewsTop officials of Attock Cement Pakistan Ltd (ACPL) presented a pictorial review of Pakistan cement industry in local bourse house on 30 September. Muhammad Rehan, chief financial officer and Muhammad Irfan Amanulah, senior general manager and company secretary, highlighted the company performance, issues negating to industry's profitability and future outlook. Cement sales The sale of cement in Pakistan is likely to remain flat at 47Mt during FY19-20 but may inch up to 49Mt during FY21-... |
Kohat and Fecto Cement report fall in profit01 October 2019, Published under Cement NewsKohat Cement and Fecto Cement have announced their financial results for the year ended 30 June 2019. Both companies' profits declined, mainly due to increase in cost of sale and other factors. Kohat Cement Co Ltd (KOHC) declared a net profit of PKR2.4bn (US$15.27m), down by 17.2 per cent YoY, as compared to PKR2.9bn reported in the same period last year. However, sales increased by 16.5 per cent to PKR15.64bn YoY, as compared to PKR13.43bn in the same period last year. KOHC incurred h... |
Pakistan cement production remains flat in July 201927 September 2019, Published under Cement NewsThe data of large-scale manufacturing industries (LSMI) shows a negative trend in Pakistan's manufacturing sector in July 2019, including cement industry, says Pakistan Federal Bureau of Statistics. The LSMI output decreased by 3.3 per cent for July 2019 compared to July 2018 and increased by just under one per cent per cent when compared to June 2019. The production in July 2109 as compared to July 2018 has increased in fertilisers and electronics while it has significantly decreased in f... |
Thatta Cement announces new chairman27 September 2019, Published under Cement NewsPakistan’s Thatta Cement Co Ltd has announced that a new chairman has been appointed. Naheed Memon will succeed Khawaja Muhammad Salman Younis in the role, with effect from 23 September 2019. Elsewhere, the company recently announced a 40 per cent profit decline in the FY19 . |
Pakistan’s Peshawar High Court dismisses opposition to new cement plants26 September 2019, Published under Cement NewsThe Peshawar High Court of Pakistan dismissed writ petitions filed against the establishment of 16 cement factories. The petitioners sought a court order to declare that the provincial government had decided unlawfully to allow the construction of new cement plants in the province. However, counsel for the plant owners, submitted that all the legal requirement had been fulfilled and international environmental protection laws and standards are being adopted as the new plants are being e... |
Pakistan cement exports shrink in July and August 201925 September 2019, Published under Cement NewsPakistan's cement industry earned foreign exchange revenue of US$16.74m by exporting 391,548t of cement in August 2019, compared to US$25.4m from exporting 593,525t of cement in previous month, says the country's Federal Bureau of Statistics. This converted to a fall of 34.1 per cent and 34 per cent in terms of value and quantity, respectively MoM. When compared with the figure of August 2018, earnings of US$27.6m from 627,405t of cement – it translates to a YoY fall of 39.3 per cent in fo... |
Dewan Cement posts losses in FY1925 September 2019, Published under Cement NewsDewan Cement Ltd (DCL) of Pakistan has announced its financial results for FY19 today. DCL incurred a net loss of PKR275m (US$17,608) as compared to profit of PKR902m earned in the same period last year. Apparently, decline in sales and increase in taxes, induced the profit to fall during the reporting period. DCL incurred a lesser distribution cost to PKR139m against PKR156m experienced in the same period last year. However, the administrative cost was increased to PKR701m in FY19 from PK... |
Thatta Cement profit falls by 40% in FY1924 September 2019, Published under Cement NewsThatta Cement Co Ltd (THCCL) of Pakistan has announced its financial results for FY19. It declared earning of net profit of PKR213m (US$1.36m)(unconsolidated) as compared to PKR356m earned in the same period last year. The company's profit dropped by 40.2 per cent despite increase in sales, which stood at PKR3.468bn compared to PKR2.842bn in the same period last year. The company incurred a higher distribution cost of PKR220m against PKR70m in the same period last year. Administrative ex... |
High interest rates impacting cement companies in Pakistan23 September 2019, Published under Cement NewsPakistani cement industry profitability in FY19 and moving forward is likely to be dented by high interest rates/financing cost as being reported by number of cement companies in country. According to a research report of BMA Research, multiple increases in interest rates in the last 20 months have increased finance costs significantly and cement companies may want to reduce this debt burden. As a result, analysts are of the view that this increased burden coupled with the economic slowdo... |