Cement News tagged under: pakistan
Lucky Cement re-appoints top directors12 October 2018, Published under Cement NewsIrfan Chawala, CFO of Lucky Cement, has informed Pakistan's Stock Exchange of the re-appointment of top executives of the company. The Board of Directors has re-appointed Muhammad Yunus Tabba as the Chairman of the Board of Directors for another term of three years, while Muhammad Ali Tabba is also re-appointed, as CEO for three years. Other company directors are Muhammad Sohail Tabba, Jawed Yunus Tabba and Mariam Tabba Khan, which have been appointed as non-executive directors as well a... |
APCMA reports cement dispatches bounce back in September10 October 2018, Published under Cement NewsThe All Pakistan Cement Manufacturer Association (APCMA) reports that domestic cement dispatch for September 2018 bounced back after two months of lacklustre growth, registering a double-digit increase compared with the same month of last year. The Pakistan cement industry dispatched 3.806Mt of cement in September 2018 against 3.201Mt in same month last year, a growth of 18.9 per cent YoY. Northern region dispatches were 2.45Mt, an increase of 3.5 per cent against 2.369Mt in September... |
Dewan Cement's net profit falls to PKR902m09 October 2018, Published under Cement NewsDewan Cement Limited (DCL) has announced that its net profit declined to PKR902m (US$7.33m) in financial year 2018 from PKR1.30bn earned in the same period last year. It shows profit dropped by 30.9 per cent, despite increase in net sale to PKR13.47bn from PKR12.85bn during this period. The company incurred a distribution cost of PKR206m against PKR261m incurred in the same period last year. The administrative expenses increased to PKR688m from PKR684m in previous fiscal year. The com... |
Power Cement expects real estate to increase sales08 October 2018, Published under Cement NewsWhile other southern cement producers have been wary of a slowdown, Power Cement Ltd (PCL), owned by the Arif Habib Group, has a need for expansion. "The Power Cement plant will start production on full capacity in June 2019 and it will produce 7700tpd of clinker and 9600tpd of cement," said Kashif Habib, the company's CEO. PCL, formerly Al-Abbas Cement, has developed its business through the construction of high-rise buildings and housing in Kerachi, Hyderabad, Thatta, Kotri and outher so... |
CEOs Lucky and Cherat Cement appointed to Pakistani business council05 October 2018, Published under Cement NewsThe Pakistani government has selected two heads of leading local cement companies for the 22-member Council of Business Leaders, according to a notification from the Ministry of Commerce and Textile. Muhammad Ali Tabba, CEO of Lucky Cement Ltd, and Azam Farooque, CEO of Cherat Cement Co, are to be appointed to the council, which enables Pakistani business leaders to provide feedback on the government’s business, economic, investment, tariff and taxation policies. Their main task is to assi... |
Gharibwal Cement records 34% fall in net profit03 October 2018, Published under Cement NewsPakistan’s Gharibwal Cement Ltd has announced a 33.9 per cent YoY drop in net profit for the FY18 ended 30 June, falling to PKR1.509bn (US$12.2m) from PKR2.283bn. Despite this, sales increased 2.3 per cent to PKR11.48bn from PKR11.22bn. Distribution costs rose 19.7 per cent YoY to PKR383m against PKR320m of the previous year, while administrative expenses decreased 3.7 per cent to PKR2.6m from PKR2.7m. |
Pakistan records a 6% demand increase in September28 September 2018, Published under Cement NewsPakistan recorded a six per cent YoY growth in cement demand for September 2018, based on preliminary sales data. This follows two consecutive months of a decline in dispatches due to prolonged holidays and the rainy season, with local dispatches still down two per cent YoY to 8.89Mt in the 1QFY19. However, exports remained buoyant in the first quarter of FY19, rising 74 per cent YoY to 0.7Mt. Capacity utilisation was recorded at 81 per cent for September, based on 54.23Mta, according to t... |
Pakistan cement producers record falling sales28 September 2018, Published under Cement NewsPakistan’s Fecto Cement Ltd has announced a 42 per cent YoY fall in profit for the FY18 ended 30 June, declining to PKR441m (US$3.56m) from PKR760m. Net sales of the company decreased 4.5 per cent to PKR4.9bn, compared with PKR5.13bn from the year-ago period. The company has a cement production capacity of 0.819Mta from its facility in Sangjani, Punjab. Elsewhere, Pioneer Cement Ltd has recorded a 44 per cent YoY drop in earnings to PKR1.64bn for the FY18. Net sales were down five per cent... |
Flying Cement Co awards Loesche VRM contract for Mangowal27 September 2018, Published under Cement NewsFlying Cement Co of Pakistan has placed an order for the delivery of a further vertical roller mill (VRM) with Germany-based mill specialist Loesche. The VRM will be installed as part of a 7000tpd cement production line under construction in Mangowal, Pakistan. It will grind 600tph of raw materials. The scope of supply also includes a Hurriclon system from ATEC, a member of the Loesche Group, for separating finished material from the gas flow exiting the mill. Compared to conventional ... |
Pakistan cement sector subdued in FY1827 September 2018, Published under Cement NewsThe Pakistan cement sector collectively recorded a one per cent YoY decline in profit-after-tax during the FY18 period ended 30 June, according to a report by Spectrum Securities Ltd. Profit-before-tax registered a decline of 24 per cent. Furthermore, the gross margin fell nine per cent in the FY18 on account of higher coal prices (37 per cent rise to US$105/t) and PKR depreciation (16 per cent on-year). To review sector performance, the report considered the financial results of eight majo... |