Cement News tagged under: pakistan
Bestway Cement profit falls 23% in FY1912 August 2019, Published under Cement NewsBestway Cement Ltd (BCL) has announced its financial results for the year ended 30 June 2019 on 8 August by declaring of net profit of PKR10.09bn (US$63m), amounting to a fall of 23.3 per cent YoY, as compared to PKR13.15bn in the same period last year. The company's net sales during the reporting year increased by 2.5 per cent to PKR79bn from PKR77.11bn during the same period last year. It incurred a lower distribution cost of PKR1.33bn against PKR1.62bn in the same period last year. Admi... |
Sailing through high seas06 August 2019, Published under Cement NewsPakistan’s cement producers are sailing through high tides as domestic demand succumbs to macroeconomic pressures, manufacturing costs rise and utilisation levels look set to weaken with the addition of new capacities. Exports are providing a much-needed cushion, as is the shift towards reducing costs and improving operational efficiencies. By Syeda Humaira Akhtar, BMA Capital Management Ltd, Pakistan. Against a backdrop of lower domestic demand and higher production costs, Pakistan p... |
FY20 to remain challenging for cement sector in Pakistan01 August 2019, Published under Cement NewsPakistani cement companies are scheduled to announce their 4Q annual results ended 30 June 2019. Mixed financial results are expected, despite two companies (Lucky Cement and Attock Cement) having reported a fall in profit earlier this week. However, various research house reports suggest that the stagnant cement demand in a fragile domestic economy continues to damage company profitability during 4QFY19. The rise in interest rates, utilities, transportation and depreciation expenses are ... |
Local cement dispatch faces barrier in Pakistan01 August 2019, Published under Cement NewsPakistan cement industry is still persisting with the dispatch issue in the local market. The All Pakistan Cement Dealers Association (APCDA) is reluctant to lift the cement cargoes from cement plants across country on the pretext of intruding tax measures announced in federal budget 2019-20. However, All Pakistan Cement Manufacturers Association (APCMA) neither highlighted this issue nor any companies intimated Pakistan Stock Exchange (PSX) whether this issue is impacting warehouse space ... |
Lucky Cement profit squeezes in FY1930 July 2019, Published under Cement NewsLucky Cement Ltd informed the Pakistan Stock Exchange (PSX) on 29 July that its net profit after tax during FY19 stood at PKR10.5bn (US$65.16m), down 14 per cent YoY. The results were accompanied by a cash dividend of PKR6.5/share. The company overall sales volume declined by 1.8 per cent to reach 7.67Mt during the current fiscal year. The local cement sales volume registered a decline of 11.7 per cent and totalled 5.85Mt in comparison to 6.63Mt last year. However, the export volumes impr... |
Attock Cement profit falls in FY1930 July 2019, Published under Cement NewsAttock Cement Pakistan Ltd (ACPL) has announced its FY19 results, reporting a net profit after tax fall to PKR2.073bn (US$12.86m) from PKR4.4bn in FY18, down 53 per cent on YoY. Along with the result, ACPL also announced a final cash dividend of PKR4/share. The topline of the company grew 26 per cent YoY during FY19 to PKR 20.781bn, led by 29 per cent YoY growth in sales volume (mainly exports), a research house commented. However, financial charges of the company swelled significantly by... |
Askari seeks minning lease approval26 July 2019, Published under Cement NewsAskari Cement Ltd (ACL) has submitted an application to Environmental Protection Agency (EPA), Government of Punjab to seek environment approval under section 12 Punjab Environment Protection Act 1997 for mining of limestone at Wah and Hassan Abdal, Rawalpindi Attock district in Punjab province, Pakistan. According to a public notification, Environmental Protection Agency (EPA), the Government of Punjab has invited comments from all stakeholders and the general public for their comments... |
Pakistan's cement exports rise but fall MoM in FY1923 July 2019, Published under Cement NewsPakistan's cement industry recorded a growth of 21.9 per cent in earning of foreign exchange revenue, 40.4 per cent in terms of quantity and 49.7 per cent in terms of Pakistani rupee earnings from cement exports in the FY18-19, according to Pakistan's Bureau of Statistics (PBS). The government official data says that export revenue for the first 12 months of the current July 2018-June 2019 stood at US$271.72m by exporting 6.4Mt of cement and clinker during compared to US$222.84m at 4.56Mt ... |
Mixed dispatches expected for Pakistan's cement sector in FY1919 July 2019, Published under Cement NewsPakistan's cement industry is likely to report mixed dispatches data for FY19. According to a sector research report released by Topline Securities, domestic dispatches will drop by three per cent, while total dispatches will increase one per cent in FY19 with the sales mix shifting in favour of overseas exports by southern players. Cumulatively, exports are expected to increase 37 per cent with cross-border exports (Afghanistan and India) falling by 19 per cent while seaborne exports are... |
Pakistan attracts lesser FDI in FY1918 July 2019, Published under Cement NewsPakistan received a net foreign direct investment (FDI) of US$1.737bn in last financial year, FY18-19 compared to US$3.471bn in July-June 2017-18. This translates a fall of 50 per cent foreign direct investment in the country industrial sector, including construction and cements industry, says a report of State Bank of Pakistan (SBP). A breakdown of SBP data shows that the net total FDI in the cement and construction sectors decreased 38.9 per cent YoY in the 12-month period. Out of th... |