Cement News tagged under: Pakistan
Fauji Cement of Pakistan reports falls in profit of 6MFY17-1820 February 2018, Published under Cement NewsFauji Cement (FCCL) has announced its July-Dec 2017 results with net profit for the period falling to PKR1.26bn (US$11.3m) from PKR1.3bn (US$11.7m), earned in corresponding month of last fiscal year. This translates to a fall in profit of 2.7 per cent on a YoY basis. Experts say the profit falls are due to the increased costs of sale and distribution. According to a company bourse filing, its sales were up by 0.8 per cent to PKR10.26 bn in 6MFY17-18. The company incurred a distribution c... |
Pakistan's cement production grows 10% in 6MFY17-1819 February 2018, Published under Cement NewsThe latest data on Pakistan's Large Scale Manufacturing Sector (LSMS), released by the Federal Bureau of Statistics, shows overall growth of 5.5 per cent during the first six months ie, July-Dec 2017 compared with the same period of last year. The government and industry officials' attribute the growth in the overall manufacturing sector largely to an increase in local demand of products including cement, which is growing on the back of strong domestic dispatches. According... |
Maple Leaf Cement profit falls in 6MFY17-1816 February 2018, Published under Cement NewsMaple Leaf Cement Factory Ltd (MLCF) announced its half-year financial result for the period ended 31 December 2017 today. It reported earnings o f a profit after tax of PKR2.24bn (US$20.2m) compared to PKR2.62bn (US$23.6m) earned in corresponding period last year showing a fall of 14.50 per cent on YoY basis. According to financial result sent to Pakistan Stock Exchange (PSX), the company also announced an interim cash dividend of PKR1.50/share. Its net sales increased to PKR12.27bn d... |
Thatta Cement's profit falls13 February 2018, Published under Cement NewsThatta Cement Co Ltd's (TCCL) financial results for the half year ended 31 December 2017 saw a profit after tax PKR321.66m (US$2.9m), compared to PKR405.79m earned in corresponding period last year – showing a fall of 20.7 per cent in profit on YoY basis. The company's net sales stood at PKR1.73bn compared to PKR1.77bn in 6MFY16. It incurred a distribution cost of PKR35.43m against PKR45.49m in 6MFY16. Its administrative expenses stood at PKR70.50m compared to PKR69.83m corresponding pe... |
Cherat Cement's 1H profits up 32%09 February 2018, Published under Cement NewsCherat Cement (CHCC) announced earnings of net profit after tax of PKR1.34bn (US$12.1m) for the July-Dec 2017 period against PKR1.02bn in the corresponding period last year, showing a YoY growth of 31.6 per cent. The company also announced in a bourse filing an interim cash dividend of PKR1/share. The company's net sales increased from PKR4.08bn to PKR7.58bn during the period. Cherat Cement incurred a distribution cost of PKR165m and administrative expenses of PKR119m compared to PK... |
Dewan Cement strikes deal with Mega Conglomerate08 February 2018, Published under Cement NewsMega Conglomerate Pvt Ltd has agreed to acquire a 87.5 per cent stake in Pakistan’s Dewan Cement, according to a bourse filing by BMA Capital Management Ltd. The acquisition will see 75 per cent shares pass hands through agreement and a further 12.5 per cent through a public offering. The deal follows a week of roller coaster movements, according to Pakistan Today. The amount of the acquisition was not disclosed. |
Pakistan cement industry records highest capacity utilisation in 7MFY17-1806 February 2018, Published under Cement NewsThe capacity utilisation of the Pakistani cement industry during the first seven months of this fiscal reached 91.3 per cent, the highest since 2004-05, according to the All Pakistan Cement Manufacturers’ Association (APCMA). The association also released data for January 2017, when total cement dispatches of 4.084Mt included 3.737Mt of domestic consumption with the balance being exported. During the first seven months of current fiscal the cement industry dispatched 26.327Mt against 22.90... |
State Bank of Pakistan reports FDI fall for cement sector06 February 2018, Published under Cement NewsAccording to data of the State Bank of Pakistan, country has received a net foreign direct investment (FDI) of US$1.381bn in July-Dec 2017-18 compared to US$1.421bn in same period last year. This translates a fall of 2.8 per cent of foreign investment in Pakistan. Out of this FDI, the net investment for cement sector during July-Dec 2017-18 stood at US$18.7m compared to US$20.4m in July-Dec 2016-17. This translates a fall of 8.33 per cent. However, in a separate note, expansion projec... |
Danish investors and FLSmidth buy into Power Cement05 February 2018, Published under Cement NewsA joint venture of foreign investors IFU (Danish Investment Fund for Developing Countries), IIP (IFU Investment Partners) and FLSmidth have reportedly purchased over 100m shares in Power Cement Ltd (PCL) and its undertaking, situated at DehKaloKohar, Nooriabad Industrial Estate, District Dadu (Sindh), Pakistan. PCL has informed the Pakistan Stock Exchange (PSX) last week that that the subscription amount (in euros) has been received against 104,658,670 ordinary shares by way of allotmen... |
Pakistan cement sales expected to rise 22%02 February 2018, Published under Cement NewsPakistan cement sales are expected to post a 22 per cent YoY growth for January 2018. This translates to an increase of 3.7Mt from the year-ago period, mainly supported by high local demand, reports The News International. "We attribute this (increase) to higher demand coming from ongoing development projects and housing schemes," said Nabeel Khursheed, an analyst at Topline Securities, in a financial report. "Local dispatches are expected to post growth of 26 percent on yearly basis,... |