Cement News tagged under: Pakistan
Pakistan attracts less FDI in cement and construction during 7MFY1926 February 2019, Published under Cement NewsForeign direct investment (FDI) into Pakistan during July 2018-January 2019 declined by over 17 per cent compared to same period last year, according to data released by the State Bank of Pakistan (SBP). The SBP data shows that the country received investments worth US$1.451bn during the first seven months of current fiscal year, down 17.6 per cent from US$1.761bn in the same period last year. Moreover, cement and construction sectors have also contracted. Out of total FDI, Pakistan's c... |
Bestway Cement earns higher profit in 1HFY1925 February 2019, Published under Cement NewsBestway Cement Ltd (BCL) has announced its financial results for the half year ended 31 December 2018. BCL declared earnings of net profit of PKR6.88bn (US$49.7), increased by 11.07 per cent YoY, as compared to PKR 6.19bn earned in the same period last year. Muhammad Irfan Anwar Sheikh, Bestway Cement's director and CFO, has informed the Pakistan Stock Exchange (PSX) that net sales of BCL during the 1HFY18-19 increased to PKR40.34bn from PKR38.44bn during this period. It incurred a hi... |
Fecto Cement profit shrinks by 53.75 per cent in 1HFY1925 February 2019, Published under Cement NewsFecto Cement Ltd (FCL) has announced its financial results for the half year ended 31 December 2018 today. It declared earning of net profit of PKR105m (US$0.75m) decreased by 53.75 per cent YoY, as compared to PKR227m earned in the same period last year. FCL informed the Pakistan Stock Exchange (PSX) that net sales of the company during the half year 2018-19 slightly increased to PKR 2.483bn from PKR 2.470bn during this period. It incurred higher administrative expenses of PKR143m agains... |
Kohat Cement earns net profit of PKR1.526bn in 1HFY1921 February 2019, Published under Cement NewsKohat Cement Co Ltd (KCCL) has announced its financial results for the half year ended 31 December 2018, declaring a net profit for the period of PKR1.526bn (US$10.9m), a fall of 7.17 per cent YoY, as compared to PKR1.644bn in the same period last year. The company had net sales during the half year PKR8.391bn from PKR6.867bn during this period, an increase of 22.19 per cent. KCCL incurred increasing distribution costs of PKR 73m against PKR68m in the same period last year. The administr... |
India raises cement import duties to stop Pakistan shipments20 February 2019, Published under Cement NewsPakistani exports of cement to India have been suspended, due to growing tension between Islamabad and Delhi over a recent terrorist attack in Pulwama, in Jammu and Kashmir, India. India has de-listed Pakistan from the status of 'Most-Favoured Nation' and increased import duty by 200 per cent on all imports from Pakistan, including cement and reportedly suspension of trade from border for the last few days. Meanwhile, according to a private TV channel, "around 300 trucks carrying ceme... |
Fauji Cement's profit increases by 43.88% in 1HFY1920 February 2019, Published under Cement NewsFauji Cement Co Ltd (FCCL) has announced its financial results for the half year ended 31 December 2018, by declaring of net profit for the period of PKR1.82bn (US$13m), increased by 43.88 per cent YoY, as compared to PKR1.26bn in the same period last year. Net sales of FCCL during the half year increased at of PKR10.431 bn from PKR10.268 bn, up by two per cent during this period. It incurred a distribution cost of PKR120m against PKR119m in the same period last year. The administrative ex... |
Exports from Pakistan during 7MFY19 improve19 February 2019, Published under Cement NewsThe Pakistan cement industry is facing a domestic drop in cement demand, but export data for 7MFY19 show overseas sales have been strong. Experts believe that with domestic demand experiencing a dip, cement manufacturers have been selling off their surplus inventory to regional markets perhaps with a cut to their margins. Pakistan's cement industry received foreign exchange revenue of US$27.34m by exporting 655,317t of cement during the month of January 2019, compared to US$25.89m at 624,... |
Saudi Arabia to invest US$20bn in Pakistan19 February 2019, Published under Cement NewsSaudi Crown Prince Mohammad bin Salman is investing US$20bn under phase one in Pakistan for number of projects in energy, petrochemicals, minerals, tourism and other projects. The crown prince, who is visiting Pakistan for two days on the invitation of Prime Minister Khan, was accorded a red carpet welcome and presented a guard of honour at the Prime Minister's House. Both government have signed number of MoUs to pave the way for mutual development of projects in future. Expert belie... |
Cement production falls on MoM and YoY basis during 6MFY1918 February 2019, Published under Cement NewsPakistan Bureau of Statistics (PBS) has released numbers of quantum index of the Large Scale Manufacturing Industries (LSMI) for 6MFY18-19. The overall output of LSMI fell by 1.5 per cent for July-December 2018 compared to July-December 2017. Similarly, the LSMI output decreased by 10.2 per cent for December 2018 compared to December 2017 and increased by 2.5 per cent if compared to November 2018. Production in July-December 2018 as compared to July-December 2017 has significantly decreas... |
Pakistan exports of cement to India expected to fall18 February 2019, Published under Cement NewsPakistan cement exports to India are likely to be affected following the Indian government's announcement to scrap the 'Most-Favoured Nation' status to Pakistan, after an attack on Indian forces in Pulwama , Jammu and Kashmir, India, recently. According to Al Habib Capital Markets, Pakistan's cement exports are expected to suffer most due to this unwanted tension between India and Pakistan. During 7MFY19 Pakistan's total cement exports stood at ~2.876Mt, up four per cent, YoY, of which c... |