Cement News tagged under: Pakistan
Fauji Cement's net profits rise 31 per cent in 4Q1828 August 2018, Published under Cement NewsFauji Cement Company Ltd (FCCL) announced its financial results for the year ended 30 June 2018 on 27 August. Its net profits were up by 31 per cent YoY to PKR3.429bn (US$27.8m). This was possible due to a positive tax reversal in 4Q18 and rehabilitation of cement line II. FCCL recorded 10 per cent YoY growth in local and export dispatches, partly due to resumption of normal operations post rehabilitation. FCCL net sales increased to PKR21.16bn from PKR20.42bn during this period. The com... |
Pakistan cement sector's FY19 starts strongly23 August 2018, Published under Cement NewsPakistan cement industry's FY19 started positively in terms of exports with rises in the first month July 2018. According to the Federal Bureau of Statistics, Pakistan's cement industry earned foreign exchange revenue of US$20.96m by exporting 475,134t of cement last month compared to US$16.31m on 369,506t of cement. This reporesented growth of 28.56 per cent and 28.59 per cent in terms of value and quantity respectively on MoM basis. In local currency terms growth of 34.38 per cent was s... |
Pakistan cement production surges by 11.14% in FY1822 August 2018, Published under Cement NewsPakistan Federal Bureau of Statistics (FBS) has released data of the country's Large Scale Manufacturing Sector (LSMS) for the financial year 2018 (July-June). It shows yearly average growth of 5.04 per cent in all kinds of manufacturing including cement. According to the FBS, Pakistan's cement industry saw growth of 11.14 per cent during July-June 2018, as production increased from 37Mt to 41.14Mt on the back of local demand. However, in June 2018 alone, cement production fell by 0.4... |
Attock Cement achieves PKR4.40bn net profit in FY1816 August 2018, Published under Cement NewsThe Attock Cement company has announced its FY18 annual financial results, which shows its profit after tax at PKR4.40bn (US$35.8m) as compared to PKR3.03bn in the same period last year. It translates a growth of 45 per cent in profit YoY basis. Net sales of the company during FY18 have increased by 15 per cent YoY to PKR16.884bn, mainly achieved on account of impressive growth trend witnessed in local sales and impact of fresh capacity worth 1.24Mt resolving capacity constraints, an analy... |
Kohat Cement to expand grinding capacity with Loesche mills15 August 2018, Published under Cement NewsKohat Cement Company Ltd has recently ordered as many as four vertical roller mills (VRM) from Loesche to expand its cement plant in Kohat, 160km west of the capital city of Islamabad, Pakistan. The order comprises a four-roller raw material mill with a material throughput of 500tph and two cement mills each with a grinding capacity of 210tph of Portland cement. The order is finally complemented by another vertical roller mill for grinding 50tph of anthracite. At its plant of the same name... |
Lucky Cement wins corporate award15 August 2018, Published under Cement NewsPakistan’s Lucky Cement Ltd has won the Best Corporate Award in the Sugar & Cement category at the Best Corporate and Sustainability Report Awards. The award ceremony was jointly organized by the Institute of Chartered Accountants of Pakistan (ICAP) & Institute of Cost and Management Accountants of Pakistan (ICMAP). The award represents the Company’s commitment to having the best corporate practices and governance, reflected by stringent policies for IT, whistle-blowing, social responsibilit... |
Pakistan cement companies recognised for corporate and sustainability reports08 August 2018, Published under Cement NewsThe Institute of Chartered Accountants of Pakistan (ICAP) and Institute of Cost and Management Accountant of Pakistan (ICMAP) have awarded Best Corporate and Sustainability Report 2017 (BCSR) Awards to more than 40 companies, including several cement firms for their reports. The award-winning cement companies included Cherat Cement, Lucky Cement Ltd, Maple Leaf Cement Ltd and Thatta Cement Ltd. Tariq Hassan, chairman of Audit Oversight Board, Richard Morin, CEO of the Pakistan Stock Excha... |
Fauji Cement to set up solar power plant07 August 2018, Published under Cement NewsFauji Cement Company Ltd (FCCL) has informed Pakistan Stock Exchange (PSX) on 3 August 2018 that its Board of Directors in a special meeting discussed and approved setting up of 12.5MW captive solar power plant at Site in Jhang Bahtar, Attock, Punjab. According to Brig (Rtd) Riaz Ahmed Gondal, company secretary, the project would be competed in 6-7 months and will help to overcome energy cost. Earlier, FCCL had commissioned a 12MW waste heat recovery (WHR) plant in 2015. |
Pakistan cement sales up 5% YoY in July06 August 2018, Published under Cement NewsCement sales in Pakistan increased 5.1 per cent in the first month of FY18-19. In July, total cement dispatches rose to 3.554Mt from 3.382Mt in July 2017, according to the All Pakistan Cement Manufacturers’ Association. While in the wake of elections, economic and construction activity slowed down, it did not significantly affect sales growth. Exports rose by 9.3 per cent from 0.476Mt in July 2017 to 0.52Mt one year later while domestic dispatches were up 4.4 per cent from 2.906Mt to ... |
Lucky Cement earns PKR12.20bn after-tax profit in FY1801 August 2018, Published under Cement NewsLucky Cement earned after-tax profit of PKR12.2bn (US$98.4m) in FY18 as compared to PKR13.69bn in the same period last year, said the company filing to PSX. Experts comment that Lucky Cement's net sales grew by only 4.1 per cent YoY to PKR47.54bn despite a 9.3 per cent YoY increase in dispatches, largely due to lower retention prices during the year. Cost of sales grew by 25 per cent YoY PKR30.59bn, mainly on account of elevated coal and fuel oil prices on the international market, the dev... |