Cement News tagged under: Pakistan
Pakistan cement production falls in 7MFY1915 March 2019, Published under Cement NewsThe overall output of Pakstan's Large Scale Manufacturing Industries (LSMI) decreased by 2.3 per cent for July 2018-January 2019, compared to July 2017-January 2018, says data released by Pakistan Bureau of Statistics (PBS). The LSMI output decreased by 4.6 per cent for January 2019 compared to January 2018 and increased by 20.8 per cent, if compared to December 2018. The production in July 2018-January 2019 as compared to July 2017-January 2018 has significantly decreased in food, be... |
Exports seek solutions for stalled export to India11 March 2019, Published under Cement NewsExports of cement and other commodities from Pakistan to India have been impacted following imposition of 200 per cent import duty by New Delhi on the aftermath of recent terrorist attacks on Indian soldiers. According to local media, Pakistani exporters have sought the government's help to clear their multi-million dollars of shipments stuck at the Indian ports, since the two neighbouring countries indulged in border skirmishes a month ago. They demanded of the government to form a taskf... |
More promising outlook forecast for Pakistan cement sector11 March 2019, Published under Cement NewsAccording to a report of Spectrum Securities Ltd, Pakistan's cement industry is expected to improve its margins going forward as the impact of higher interest rates and devaluation of the Pakistani rupee will pass on to the end consumer gradually. Moreover, improving economic activities coupled with regional peace are expected to support cement demand going forward. During 1HFY19 the sector posted a decline of 19 per cent YoY in profitability. Total cement dispatches during 1HFY19 rose b... |
Pakistan's utilisation levels expected to keep falling06 March 2019, Published under Cement NewsCurrent downward trends in Pakistan's domestic cement demand are expected to impact capacity utilisation. Overall cement sales in the country declined by 12 per cent YoY in February 2019 to 3.3Mt, according to Intermarket Securities Ltd, quoting APCMA data. This decline was driven by local cement sales, which fell by 19 per cent YoY to 2.8Mt, with a major drag seen in sales of the north region to 2.1Mt, down 25 per cent YoY. The drop-off in demand could be attributable to several factors,... |
Pakistan's domestic sales continue to slide in February04 March 2019, Published under Cement NewsThe cement industry dispatched 3.325Mt in February 2019 against dispatches of 3.78Mt in February 2018, according to data released by the All Pakistan Cement Manufacturers Association (APCMA). Therefore, domestic consumption contracted by 19.1 per cent YoY. However, total exports from the country increased by a healthy 69.1 per cent YoY in February. The industry exported 0.508Mt of clinker and cement in February 2019 against exports of 0.301Mt in same month in the previous year. ... |
Dandot Cement declares loss of PKR177.51m in 1HFY18-1901 March 2019, Published under Cement NewsDandot Cement Company Ltd (DCCL) has announced its financial results for the half-year ended 31 December 2018. It declared a loss of PKR177.51m (US$1.27m), as compared to loss of PKR320.95m reported in the equivalent period last year. DCCL Company Secretary, Muhammad Kamran, informed the Pakistan Stock Exchange (PSX) that net sales during the 1HFY18-19 slightly increased to PKR741.30m from PKR679.05m during this period. It incurred a higher distribution cost of PKR2.7m against PKR2m in the... |
Pakistan cement industry facing challenges28 February 2019, Published under Cement NewsA number of Pakistan cement companies have shown poor financial performance in 1HFY19, due to a combination of factors, including dwindling local demands and the rising cost of production. According to local media, the government has not only slashed Public Sector Development Programme (PSDP) spending, but private sector commercial and housing construction spending has also cooled, leading to lower cement sales, particularly in the northern zone. For northern players that export to Afghan... |
Pioneer Cement and DG Khan Cement report profit falls in 1HFY1927 February 2019, Published under Cement NewsTwo more leading cement companies of Pakistan announced their financial results for 1HFY19 (July-December 2018) to the Pakistan Stock Exchange (PSX). DG Khan Cement Co Ltd (DGKC) and Pioneer Cement Ltd (PCL) reported falls in profit despite increased cement sales due to the negative impact of the devaluation of the Pakistani rupee, amid higher coal prices and other factors during this period. DG Khan Cement While announcing its financial results for the half-year ended 31 December 201... |
Gharibwal Cement profit shrinks by 21% in 1HFY1927 February 2019, Published under Cement NewsGharibwal Cement Ltd (GCL) declared a net profit of PKR593m (US$4.28m) for the half year ended 31 December 2018, down by 21.2 per cent YoY, as compared to PKR752m earned in the same period last year. GCL informed the Pakistan Stock Exchange (PSX) that net sales of GCL during 1HFY18-19 slightly increased to PKR5.505bn from PKR 5.478bn during this period. The company's administrative expenses edge up to PKR197m against PKR193m in the same period last year. It also incurred a higher distribu... |
Dewan Cement profit contracts by 40.29% in 1HFY1926 February 2019, Published under Cement NewsDewan Cement Ltd (DCL) has announced its financial results for the half year ended 31 December 2018. It declared net profits of PKR328m (US$2.74m), representing a decrease of 40.29 per cent YoY, as compared to PKR550m earned in the same period last year. Imran Ahmad Jawed, CFO of DCL, informed the Pakistan Stock Exchange (PSX) that the company's net sales edged up to PKR6.466bn from PKR6.457 during this period. It incurred a higher distribution cost of PKR111m against PKR106m in the same ... |