Cement News tagged under: pakistan
Dewan Cement reports fall in profit 1QFY1925 October 2018, Published under Cement NewsPakistan's Dewan Cement Ltd (DCL) on 25 October announced that it earned PKR184m (US$1.37m) in 1QFY19, down by 24.8 per cent YoY, as compared to PKR245m reported in the same period last year. According to DCL's notification to Pakistan Stock Exchange (PSX), company sales during the quarter declined by 2.3 per cent YoY to PKR2.91bn from PKR2.98bn of same period last year. The gross profits during the period dropped substantially by 23.41 per cent YoY. The company incurred higher distr... |
Bestway Cement FY1Q19 earnings fall25 October 2018, Published under Cement NewsBestway Cement Lts (BCL) announced its financial results for 1QFY19 on 22 October. It posted earnings of PKR2.25bn (US$16.9m) during this period, down by 24.6 per cent YoY. According to a filing of company to Pakistan Stock Exchange (PSX), its net sales also fell by 6.71 per cent to PKR 17.4bn from PKR18.66bn during this period, on YoY. Domestic cement companies are feeling the effects of the rise in input costs, stemming from higher global coal prices and the domestic impact of the rupe... |
Change of CEO in Dadabhoy Cement25 October 2018, Published under Cement NewsDanish Dadabhoy, director of Dadabhoy Cement Industries Ltd informed Pakistan Stock Exchange (PSX) on 22 October, that following the death of CEO Muhammad Amin Dadabhoy, the board of directors has appointed Fazal Karim Dadabhoy as a new CEO of Dadabhoy Cement Industries effective from 22 October 2018. The Dadabhoy Cement plant is locatedat Kalu Kohar, in Dadu District of Sindh, Pakistan and has capacity of 2800tpd. |
Kohat Cement reports 1QFY19 earnings drop of 41%24 October 2018, Published under Cement NewsKohat Cement Company Ltd (KOHC) announced its financial results for 1QFY19 by reporting earnings of PKR529m, down by 41 per cent YoY, as compared to PKR903m reported in the same period last year. According to a filing of company to PSX, its sales during the quarter inched up by three per cent YoY to PKR3.52bn, likely due to an increase in cement sales prices against the comparative period. The company incurred higher distribution cost of PKR30m and administrative expenses of PKR7m c... |
Maple Leaf Cement profits fall in 1QFY1924 October 2018, Published under Cement NewsPakistan's Maple Leaf Cement Factory Ltd (MLCF) announced its financial results for 1QFY19 with consolidated earnings falling at PKR587m (US$4.4m), down by 45 per cent YoY, as compared to PKR1073m reported in the same period last year. According to MLCF's notification to Pakistan Stock Exchange (PSX), company sales during the quarter declined by three per cent YoY to PKR5.65bn, likely due to a slowdown in dispatches as a consequence of a halt in development projects by the caretaker gover... |
Fauji Cement announces 80% earnings growth23 October 2018, Published under Cement NewsPakistan’s Fauji Cement Co Ltd recorded 79 per cent YoY growth in its gross profit to PKR1.41bn (US$10.61m) for the 1QFY18-19 ended 30 September. Its earnings similarly advanced 80 per cent to PKR801m. Net sales increased 11 per cent to PKR5.34bn, on the back of improved prices during the period, according to a statement to the stock exchange. The improvements in profit have been attributed to a controlled cost structure following the commencement of operation of its second line after hav... |
Central Bank of Pakistan reviews progress of cement industry in FY1819 October 2018, Published under Cement NewsThe State Bank of Pakistan has released its annual report on Pakistan's economy for the fiscal year 2017-18. According to the report, the growth momentum gained further strength as the economy achieved its 13-year highest real GDP growth of 5.8 per cent in FY18. The GDP growth was also broad-based, as all the three sectors – agriculture, industry (including cement) and services – contributed positively to this acceleration, the report highlights. The cement industry, with more than one-fi... |
Thatta Cement appoints directors and appproves WHR project at AGM18 October 2018, Published under Cement NewsAt Thatta Cement Co Ltd's (TCCL) annual general meeting the company elected seven directors for a three-year term commencing from 16 October 2018. The appointments include Khawaja Mohammad Salman Younis, Muhammad Taha Hamdani, Agha Sher Shah, Shahid Aziz Siddiqui, Naheed Memon, Saleem Zamindar and Shahzad Sabir. The company has also approved the time period for providing a PKR300m (US$2.25m) loan/advance facility to its subsidiary company, Thatta Power (Pvt) Ltd (TPPL), as approved by t... |
Attock Cement revenue increases in 1QFY1915 October 2018, Published under Cement NewsAttock Cement Pakistan Ltd (ACPL) has announced its 1QFY19 results. It reported a net profit after tax of PKR423m (US$3.2m), down 30 per cent YoY despite an increase in revenue from PKR3.59bn to PKR5.83bn during this period. Analyst believes another reason for the profit fall was a rise in coal prices during this period. The company incurred a higher distribution cost of PKR626m and administrative expenses PKR129m compared to PKR284m and PKR107m, respectively incurred in corresponding peri... |
Expansion project of Maple Leaf Cement on the track15 October 2018, Published under Cement NewsMaple Leaf Cement Factory Ltd has updated the Pakistan Stock Exchange about progress on it expansion project. According to Company Secretary, Muhammad Ashraf, the company is undertaking an additional dry-process clinker line of 7300tpd. The brownfield expansion at the existing Iskandarbad plant raises grey cement capacity at the plant to 18,000tpd. Total project cost is estimated at PKR26bn (US$197m), including the impact of the recent devaluation of the local currency. Project cost is be... |