Cement News tagged under: Pakistan
Dandot Cement loss increases in 1QFY1722 November 2017, Published under Cement NewsPakistan's Dandot Cement Co Ltd (DCCL) reported a loss after tax of PKR-110m in the first quarter ended 30 September 2017,compared to a loss of PKR-64m in 1QFY16. Net sales declined 43.6 per cent to PKR289m in 1QFY2017 from PKR512m in the year-ago period. Distribution costs advanced from PKR0.8m to PKR1m YoY while administrative expenses increased from PKR4m to PKR5.6m. |
Pakistan cement producers face higher coal prices20 November 2017, Published under Cement NewsRising coal prices are presenting a risk to profit margins of cement manufactures in Pakistan. According to a local research house report, coal prices in the global markets have been on an upward trend (up 18 per cent from last July), after touching a trough at US$40/t on 16 February. It is expected that this sustained rise in coal prices will increase the cost of cement production in the short-term. Major contributory factors to the higher coal prices include China's imposition to cut p... |
Pakistan cement prices unlikely to rise soon17 November 2017, Published under Cement NewsPakistan cement producers are unlikely to increase their prices for the next three months to avoid investigation by the Competition Commission of Pakistan (CCP), reports Asianet Pakistan. The gross profit of the cement sector in Pakistan has fallen by 13 per cent YoY to PKR20.9bn (US$198m) in the first quarter of FY18. Profit after taxes decreased three per cent to PKR13.74bn from PKR14.11bn of the year-ago period. The net revenue of the industry increased 11 per cent on a yearly basis... |
State Bank forecasts strong cement demand for Pakistan producers13 November 2017, Published under Cement NewsPakistan's 11 cement manufacturers are aggressively investing in production capacity, increasing output potential by 30.3Mta (60 per cent) through expansion projectsat a cost of over US$2.225bn in FY17-19 in anticipation of strong domestic demand and improved export potential. Manufacturers are exploring new markets, such as the Philippines, Qatar, Yemen and Sri Lanka to boost their exports following a recent decline, according to a recently-published annual report of the State Bank o... |
Pakistan’s cement industry expected to grow 8%08 November 2017, Published under Cement NewsPakistan’s cement consumption grew 16.53 per cent between July-August of this year with a positive outlook for the rest of the year forecast. Domestic cement demand is expected to increase by 8-8.5 per cent per annum on the back of hydropower plants currently under construction or planned as part of the Public Sector Development Programme (PSDP) and China Pakistan Economic Corridor (CPEC) investments. CPEC is expected to implement three hydropower projects at Karot, Suki Kinari and Kohala... |
Dandot Cement Company reports a loss for FY201707 November 2017, Published under Cement NewsDandot Cement Company Ltd has announced its financial results for FY2017. The Pakistan-based company reported a loss of PKR527m (US$4.9m) compared to the loss of PKR280m in the previous financial year. The net sales of the company fell in the same period, decreasing from PKR2.98bn of FY2016 to PKR2.49bn for FY2017. The cost of distribution increased from PKR18m to PKR24m. |
Pakistan sees the highest capacity utilisation in 20 years07 November 2017, Published under Cement NewsA spokesman for the All Pakistan Cement Manufacturers Association (APCMA) has stated that the nation’s cement industry utilised over 93 per cent of installed capacity over the July-October period. Although a capacity of 1.08Mt remained idle, this was still the highest capacity utilisation for the last 20 years. The spokesperson added that the idle capacity could have been used if the government adopted export-friendly policies. Whilst total cement despatches rose by 16.5 per cent in t... |
Fauji Cement records a 1QFY18 net profit of PKR444m31 October 2017, Published under Cement NewsFauji Cement (FCCL) has earned net profit after tax of PKR444m (US$4.2m) in 1QFY18, down by 27 per cent YoY. The company's sales stood at PKR4.79bn, up by nine per cent YoY . FCCL reported incurring distribution cost of PKR40m and administrative cost of PKR74m during this period. This translates distribution cost increasing by 18 per cent but administrative cost fell by five per cent on YoY basis. |
Cherat Cement Pakistan profits up by 50%31 October 2017, Published under Cement NewsCherat Cement (CHCC) of Pakistan has announced 1QFY18 net profit after tax of PKR606m (US$5.75m), up 50 per cent YoY. The company net sales grew by 33 per cent YoY to PKR 3.891bn. It incurred distribution expenses of PKR81m and administrative expenses of PKR57m compared with PKR63m and PKR50m, respectively in 1QFY17. Along with result, CHCC announced the installation of a 10MW WHR system on Line III. The plant is expected to cost PKR1.2bn and would commence operations right afte... |
Lucky Cement profits grow by 6.8% in 1QFY1830 October 2017, Published under Cement NewsPakistan-based Lucky Cement Co Ltd reported 1QFY18 earnings of net profit of PKR3.01bn (US$28.5m), up by 6.8 per cent YoY. The company's revenue increased six per cent YoY to PKR11.2bn. This growth was primarily attributable to a rise in total dispatches YoY. The company achieved an overall growth of 5.9 per cent with a total sales volume of 1.8Mt during the first quarter compared to 1.7Mt last year. While the cement producer's local sales volume saw a growth of 14.3 per cent to 1.54... |