Displaying items by tag: Attock Cement

Pakistan: Attock Cement recorded standalone sales of US$92.6m in its 2022 financial year, down by 3.6% year-on-year from US$96.1m in its 2021 financial year. The company produced 2.18Mt of clinker, down by 32% from 3.19Mt, corresponding to a capacity utilisation of 76%. The decision to reduce production came about due to high coal costs. Attock Cement sold 1.8Mt of cement, down by 10% from 2.01Mt in the 2021 financial year. The producer's cost of sales rose by 1.1% year-on-year to US$75.9m from US$75.1m. It profit after tax nonetheless grew by 1.2%, to US$5.07m from US$5.01m.

Chair Laith Pharaon said "The 2022 financial year was a challenging year for the company, as export sales remain depressed due to uncompetitive prices demanded by regional markets, which were also facing the uncertainties." He continued "Due to higher input costs owing to the significant increase in energy prices, the gross margin also declined by 4%. However, because of exchange gain on foreign receivables and dividend income received from its Iraq-based 60% subsidiary Saqr Al Keetan, operating margin improved by 3%.

Iraq: Pakistan’s Attock Cement has begun commercial operation of its Basra grinding plant. The 0.9Mt/yr unit was commissioned in April 2019.

Iraq: Pakistan’s Attock Cement has commissioned its new grinding plant in Basra. Civil, mechanical and electrical construction work on the unit was finished in January 2019.

Pakistan: Attock Cement’s profit fell by 25% year-on-year to US$9.7m in the nine months of the end of March 2019 from US$12.9m in the same period to March 2018. Its revenue rose by 36% to US$114m from US$83.7m.

Iraq: Pakistan’s Attock Cement has completed civil, mechanical and electrical construction work on its grinding plant at Basra. The unit is now ready for commissioning. The company is currently obtaining permission to import clinker. Once granted the company will start importing clinker and commence trial production at the plant. The producer first announced its intention to build the plant in 2013.

Pakistan: A new production line at Attock Cement’s Hub plant in Balochistan has started operation. The line has a cement production capacity of 1.2Mt/yr and it increases the company’s total production capacity to 3Mt/yr. The line was first announced in 2015 at a cost of US$120m. Loesche provided a cement mill for the project in 2017 under contract from the Hefei Cement Research & Design Institute.