Pakistan: Dandot Cement recorded a net loss after taxation of US$463,000 during the first six months of the 2023 financial year. This corresponds to a year-on-year rise of 8% from US$429,000 in the first half of the 2022 financial year. Its finance costs rose by 10% to US$437,000, while its administrative expenses fell by 18% to US$71,400.
The producer's 0.5Mt/yr Lahore cement plant closed in 2019 for a 'balancing, modernisation and replacement' upgrade. Dandot Cement says that the on-going project is on schedule for completion before the end of the current Pakistani financial year on 30 June 2023. The company anticipates a rise in domestic cement demand due to new infrastructure projects and the renovation of existing infrastructure. However, it noted several principal risks and uncertainties, namely rising coal, diesel and electricity prices, rising interest rates, currency devaluation and current overcapacity in the Pakistani cement industry.
