Cement News tagged under: Pioneer Cement
More cement firms on MSCI indexes08 November 2024, Published under Cement NewsAccording to Topline Pakistan Research, a few Pakistan stocks, including cement, will likely be added to the MSCI indexes. The analyst adds that MSCI is scheduled to announce its November 2024 Index review on 6 November 2024, effective 26 November 2024. Likely additions in November 2024 Review: In November 2024, it is expected that the likely addition of four stocks: Fauji Cement , Cherat Cement , Fauji Fertilizer Bin Qasim, and Kohat Cement . The free float market caps of these stoc... |
Pioneer Cement Ltd sees double-digit profit growth in 1QFY24-2530 October 2024, Published under Cement NewsPioneer Cement Ltd announced its 1QFY24-25 financial result on the Pakistan Stock Exchange’s website on 29 October. It reported earnings of PKR1bn (US$3.5m), up 10 per cent from PKR0.9bn in the previous period. Based on the result, AKD Research reported that PIOC revenue clocked in at PKR7.9bn, a nine per cent YoY decline from PKR8.7bn in the same period last year. The decrease in turnover is attributed to a 23 per cent YoY drop in sales. However, this was partially mitigated by a 17 pe... |
Pioneer Cement reports 98% surge in full-year net profit18 September 2024, Published under Cement NewsPakistan-based Pioneer Cement Ltd , reported revenue of PKR35.52bn (US$127.7m) in the FY23-24 ended 30 June 2024. This represents a drop of 1.8 per cent when compared with PKR36.165bn in the FY22-23. However, the company’s gross profit improved by 25 per cent YoY to PKR11.763bn in FY23-24 from PKR9.409bn in the year-ago period while operating profit saw a 21 per cent uptick to PKR10.756bn from PKR8.889bn over the same period. The company’s net profit advanced by 98.2 per cent to PKR5.17... |
Royalty issue on cement raw materials in Punjab landed in court19 August 2024, Published under Cement NewsAccording to Topline Research, Punjab-based cement manufacturers have obtained a stay order from the court against the imposition of six per cent of ex-factory cement/clinker price as royalty on limestone and argillaceous clay in a major development. However, the analyst remarked that this stay is subject to bank guarantees to be furnished by manufacturers. To avoid any unfavourable decision in the future, the Punjab manufacturers are increasing cement prices by up to INR75/bag (US$0.89/bag... |
Pioneer Cement coal mix strategy impacting positively25 March 2024, Published under Cement NewsPioneer Cement Ltd (PIOC), which had a market capitalisation of US$110m on 8 March, will see healthy growth in profit and dividend yields, according to AKD Research. This is based on the company's past performance and steps taken to improve margin. The research house believes that improved fuel mix results may increase profitability. PIOC has exceeded market expectations, with a drop in coal prices and an increase in local coal in the fuel mix, resulting in gross margins expanding to 32... |
Pioneer Cement’s profit expanded by 49% in 1HFY23-2404 March 2024, Published under Cement NewsPioneer Cement Ltd announced its 1HFY23-24 result on the Pakistan Stock Exchange (PSX) website on 28 February 2024, where the company posted a profit after tax (PAT) of PKR2.62bn (US$9.38m) compared to PKR1.76bn in the equivalent period last year. This translates into a growth of 49.1 per cent YoY on the back of reduced financial costs and an increase in other income. Its sales (gross revenue) increased to PKR18.82bn from PKR18.64.08bn in financial year-ago period. The company incurred a ... |
Pioneer Cement still to decide on greenfield or brownfield expansion27 November 2023, Published under Cement NewsPioneer Cement has yet to select a green or brown option for expansion in the Punjab. Topline Securities hosted a corporate briefing session (CBS) for Pioneer Cement Co Ltd (PIOC) on 24 November, where PIOC group chairman, M Habibullah Kha, shared the company’s future outlook. The company’s management highlighted that PIOC had acquired a site at DG Khan for a greenfield project in southwestern Pakistan. However, preference would be given to put up additional lines at the current locati... |
Pioneer Cement’s profits expand 60% in 1QFY23-2402 November 2023, Published under Cement NewsPioneer Cement Ltd (PIOC) announced its 1QFY23-24 result on the Pakistan Stock Exchange website, where the company posted a profit after tax (PAT) of PKR933m (US$3.32m) compared to PAT of PKR585m in the same quarter last year. This translates into a growth of 59.5 per cent YoY, due to expansion in revenue during the period. PIOC’s sales (gross revenue) increased by 4.7 per cent to PKR8.71bn from PKR8.32bn in the accounting comparative period. It incurred a higher distribution cost of... |
Pioneer Cement's profit rises by 149% in FY2304 October 2023, Published under Cement NewsPioneer Cement Ltd (PIOC) posted a profit after tax of PKR2.61bn (US$9.07m) in FY23 versus PKR1.05bn in the previous financial year, the company said in a statement to the Pakistan Stock Exchange on 28 September. This significant advance of 149 per cent YoY is mainly due to increased sales, which rose by 13 per cent to PKR36.16bn from PKR31.87bn in FY22. The cost of sales increased to PKR26.75bn from PKR24.67bn over the same period. The company incurred higher distribution costs of... |
Cement players expect demand in FY24 to remain stable16 June 2023, Published under Cement NewsTopline Securities hosted the Pakistan Cement Conference 2023, where top executives of major cement players Maple Leaf Cement (MLCF), Lucky Cement (LUCK), DG Khan Cement (DGKC), Cherat Cement (CHCC), Kohat Cement (KOHC) and Pioneer Cement (PIOC) participated in the conference through Zoom recently. They ruled out unanimous fears of a price war, stating that it would be unwise to start a price war due to economic conditions and slow demand. However, they believed that major ... |