Cement News tagged under: pakistan
Lucky Cement wins environmental award19 August 2022, Published under Cement NewsLucky Cement Ltd has won the Environment Excellence Award at the 19th Annual Environment Excellence Awards 2022, organised by The National Forum of Environment and Health (NFEH). Lucky Cement received the award in recognition to its commitment towards sustainable development and contribution towards protecting the overall environment for a greener Pakistan. |
Attock Cement makes loss after super tax18 August 2022, Published under Cement NewsAttock Cement Pakistan Ltd (ACPL) has announced its financial result for 4QFY21-22 (April-June 2022), posting a loss after tax of PKR59m (US$274,781) compared to a profit after tax of PKR149m in the same period last year. The main reason behind this loss has been the recognition of super tax and deferred tax liability, according to AHL Research. This took the FY21-22 (July 2021-June 2023) earnings to PKR1181m against PKR1107m in the same period a year earlier. Alongside the result, the co... |
Steep fall in Pakistan cement exports in July 202217 August 2022, Published under Cement NewsPakistan began the new fiscal (July 2022) by registering lower cement and clinker exports in value and volume terms, with declines seen on both a MoM and YoY basis. Experts attribute the decline to the global economic slowdown, supply chain disruptions and higher sea freight charges. Low export prices coupled with increasing coal prices made exports unattractive during the first month of the new fiscal, according to AKD Research. The negative trend was also observed last year, and domest... |
Pakistan's cement prospects15 August 2022, Published under Cement NewsOver the course of the 9MFY21-22 Pakistani producer profitablity has been supported by price retention and local demand, but falling exports and rising commodity prices are a cause for concern. Moreover, a slowdown in government spending on development projects could prevent domestic consumption from gaining traction. By Pakistan Credit Agency, Pakistan. A slowdown in government spending is expected to cool Pakistan’s cement demand growth In FY20-21 Pakistan’s nominal GDP increa... |
Lucky Cement's domestic capacity to rise to 15.3Mta09 August 2022, Published under Cement NewsLucky Cement Ltd announced its financial results for the 4QFY21-22 (April-June 2022) on 5 August 2022 and held a corporate briefing session at the Pakistan Stock Exchange (PSX) to discuss the company’s outlook. Expansion of the Pezu cement plant in Pakistan's Khyber Pakhtunkhwa province to 3.15Mta is progressing well and is expected to cost PKR30bn (US$133.6m), according to Lucky Cement. This brownfield expansion in the north of the country is scheduled to come on-line in December 2022... |
Margins affected by 10% super tax08 August 2022, Published under Cement NewsPakistan cement companies listed on the Pakistan Stock Exchange (PSX) are scheduled to announce their financial results for FY21-22 in August-September. The cement industry has fingers crossed to see their top line, which is likely to be impacted by the government's imposition of a one-time surcharge on the previous year's income. The Inter Market Securities Ltd estimated that higher tax and interest would chop earnings of the top seven companies. IMS Cement Universe's (comprising Lucky ... |
Pakistan cement dispatches dwindle in July 202203 August 2022, Published under Cement NewsPakistan dispatched a 2.039Mt of cement during July 2022, down 47.7 per cent from 3.899Mt during the same month of the last fiscal year. According to the data released by the APCMA, local cement dispatches by the industry during July 2022 were 1.88Mt compared to 3.44Mt in July 2021, showing a decline of 45.3 per cent. Export dispatches also suffered a massive decrease of 66.1 per cent as the volumes reduced from 452,777t in July 2021 to 153,517t in July 2022. As a result, capacity ut... |
Pakistan to report weaker cement dispatches in July 202201 August 2022, Published under Cement NewsPakistan's two leading research houses, AHL Research and Topline Securities, while taking account of provisional cement data of July 2022, the first month of the FY22-23, depict a considerable decline in local/export sales due to the Eid holidays, monsoon rains across the country, and a fall in land and sea routes dispatches. However, the All Pakistan Cement Manufacturer Association (APCMA) is yet to release official data in the first week of next month. According to a report by AHL Rese... |
Dewan Cement appoints new CEO and director25 July 2022, Published under Cement NewsPakistani cement producer Dewan Cement Ltd informed Pakistan Stock Exchange that Ishtiaq Ahmed and Waseem-ul-Haque Ansari have been appointed as CEO and director of the company, respectively. The appointments are effective of 15 July 2022 and replace Malik Bilal Omar. |
FY22 ends with mixed export dispatches from Pakistan20 July 2022, Published under Cement NewsThe Federal Bureau of Statistics (FBS) of Pakistan has released cement export data for July 2021-June 2022. Both value and quantity of exports plummeted during this period when compared with the equivalent months in FY20-21, apparently due to local and external issues. Pakistan's cement industry in 12MFY21-22 earned US$223.99m of export revenue by dispatching 5.733Mt of cement and clinker overseas, compared to US$267.91m from 7.815Mt of exports in the year-ago period. The export figures... |