Cement News tagged under: Pakistan
Cherat Cement records PKR1.02bn net profit in 1HFY18-1914 February 2019, Published under Cement NewsCherat Cement Company Ltd (CCCL) has announced its financial results for the half year ended 31 December 2018. CCCL declared a net profit of PKR1.02bn (US$7.29m), down by 23.9 per cent YoY, as compared to PKR 1.349bn earned in the same period last year. CCCL's Executive Director and Company Secretary, Abid Vazir, said the company's net sales during the 1HFY18-19 fell to PKR7.032bn from PKR 7.585bn during the first six months of FY17-18. It incurred a higher distribution cost of PK... |
Experts list reasons for Pakistan's cement slowdown in 7MFY1908 February 2019, Published under Cement NewsThe Pakistan cement industry recorded a negative growth on domestic dispatches during the month of January 2019. As per APCMA data, local cement sales for the month came in at 3.1Mt, down a sharp 18 per cent YoY. According to Intermarket Securities, the slowdown in local cement dispatches has been in place since elections and appears to be gathering pace. This could be attributable to lower PSDP disbursements, a more challenging macroeconomic environment and legal challenges on major priv... |
Thatta Cement makes changes in management08 February 2019, Published under Cement NewsThatta Cement Co Ltd (TCCL) informed Pakistan Stock Exchange (PSX) earlier this week that it has made some changes in top management. The company has appointed Noor Mohammad as Director with effect from 4 February 2019 in place of Shahzad Sabir and also appointed Muhammad Abid Khan as Company Secretary with effect from 4 February 2019 in place of Shahid Yaqoob. |
APCMA releases dispatch data for January and 7MFY1907 February 2019, Published under Cement NewsThe Pakistan cement sector posted a double-digit decline of 10.7 per cent in the month of January compared with corresponding month last year, raising alarm bells among producers with a large production capacity, reports the All Pakistan Cement Manufacturers Association (APCMA). The cement industry dispatched 3.646Mt in January 2019 against 4.083Mt in January 2018, says APCMA. The buoyancy in exports stayed on course, increasing by a healthy 67.3 per cent. The industry exported 0.579Mt o... |
Thatta Cement earns PKR300m in 1HFY1906 February 2019, Published under Cement NewsThatta Cement Co Ltd (TCCL) announced its financial results for the half year ended 31 December 2018 with consolidated earnings at PKR300m (US$2.1m), down by 6.54 per cent YoY, as compared to PKR321m reported in the same period last year. According to TCCL's notification to Pakistan Stock Exchange (PSX) on 6 February, company sales during the half year period increased by 34.54 per cent YoY to PKR2.33bn as compared to PKR1.73bn during the same period last year. The company incurred high... |
Pakistan's cement shares become attractive on the PSX05 February 2019, Published under Cement NewsThe shares of top Pakistan's cement producers at Pakistan Stock Exchange (PSX) become attractive for international and local buyers on 5 February on anticipation of good results ahead. The benchmark KSE100 Index started the week on a buoyant note, settling marginally above the key barrier of 41,600. The gains were mainly led by aggressive buying in cements with DG Khan Cement Ltd DGKC PA up five per cent, Maple Leaf Cement Factory Ltd (MLCF) up five per cent and Lucky Cement Limited LUCK ... |
Lucky Cement records net profits of PKR5.8bn for 2H1801 February 2019, Published under Cement NewsLucky Cement Ltd reported net profit after tax of PKR5.80bn (US$41.47m) after taking out PKR0.34bn attributable to non-controlling interests for the half year ended 31 December 2018. The company achieved a gross turnover of PKR67.85bn which is 13.5 per cent higher when compared to the same period last year's turnover of PKR59.77bn. Overall sales volumes grew by 6.8 per cent to reach 4.01Mt during the current half-year under review. Local cement sales volume registered a decline of 6.8 per ... |
Power Cement has 22% of new 7700tpd line erected01 February 2019, Published under Cement NewsPower Cement Ltd (PCL) reported its progress on its ambitious expansion plan to install a new 7700tpd line at its existing site in Sindh province of Pakistan. According to Tahir Iqbal, company secretary, during early 2017, equipment supply and supervision contracts were signed with FLSmidth and letters of credit were established. Construction and erection contract had also been finalised with China-based TEPC and the company has since been working actively to complete the project within du... |
Pakistan's cement sector contracts by 1% in 1QFY1930 January 2019, Published under Cement NewsThe State Bank of Pakistan on Tuesday released its first quarterly report on the State of Pakistan’s economy for FY19. According to the report, the overall macroeconomic environment remained challenging during the first quarter of FY19 as suggested by the preliminary data. It pointed out that the 6.2 per cent target for real GDP growth seems unachievable with the policy focus now tilted towards macroeconomic stabilisation. The cement sector's output contracted by 1.4 per cent in 1QFY19 a... |
Cherat Cement Company completes third line28 January 2019, Published under Cement NewsCherat Cement Company Ltd (CCCL) informed Pakistan Stock exchange (PSX) earlier this week that it has successfully installed and commissioned the third production line, which has a cement capacity of 6700tpd of clinker, along with a waste heat recovery plant at its existing location in Nowshera, Khyber Pakhtunkhwa Province. During the period, the company also installed Wärtsilä dual-fuel engines, in anticipation of the availability of gas. Currently a gas pipeline is being laid a... |