Pakistan: Maple Leaf Cement’s first-half standalone sales were US$121m in the 2022 financial year, down by 33% year-on-year from a first-half 2021 financial year figure of US$91.5m. Export sales fell by 46% to US$2.63m, 2.5% of total sales. Its main export markets were Afghanistan, the Seychelles, Oman and Tanzania. The company reported a 70% increase in its consolidated net profit to US$15.2m from US$8.97m in the first half of the 2021 financial year. The producer said that it expects the domestic cement market to remain ‘stagnant’ for numerous reasons, including high inflation, increased interest rates and decelerating implementation of projects under the Public Sector Development Programme.
