Displaying items by tag: Fecto Cement

Pakistan: Fecto Cement has reappointed Aamir Ghani and Mohammed Yasin Fecto as its chair and CEO respectively. The move followed a formal revaluation of the company leadership, according to Pakistan Press International. It said that the change aims to streamline operations and reinforce the strategic direction of the cement producer. The company operates an integrated plant at Sangjani near to Islamabad.

Pakistan: Fecto Cement has announced the withdrawal of Rohail Ajmal as a Director of its Board. This decision was made by Saudi Pak Industrial and Agricultural Investment Company, as per the rules outlined in Regulation 5.6.1 of the Pakistan Stock Exchange (PSX) Rule Book. The Board of Directors of Fecto Cement will appoint a replacement for the vacant position in due course.

Pakistan: Fecto Cement recorded US$98.5m in sales in the first nine months of the 2024 financial year (FY24). This corresponds to a year-on-year rise of 26%. The company’s cost of sales was US$87.9m, up by 18% from nine-month FY23 levels. Its profit after was tax was US$2.51m, compared to a loss of US$13.8m.

Pakistan: Fecto Cement has appointed Hanif Idress as its chief financial officer. He succeeds Abdul Samad in the post. The cement producer operates the integrated Taxila plant near Islamabad.

Pakistan: Fecto Cement recorded sales of US$30.4m during the 2022 financial year, up by 37% year-on-year from US$22.3m during the 2021 financial year. Throughout the year, the producer's cement volumes fell by 1.9% to 713,000t from 729,000t, while its exports fell by 51% to 26,600t from 54,700t. Its cost of sales increased by 32% year-on-year to US$26.5m from US$20.1m, but this failed to offset sales growth, resulting in a US$1.29m profit for the company, compared to a US$309,000 loss in the 2021 financial year.

Pakistan: Fecto Cement has renewed Amir Ghani as its chair and Mohammed Yasin Fecto as its chief executive officer (CEO). Both positions will have a term of three years from the start of November 2021.

Ghani joined his family textile business in 1991 and is currently is a director in Ghani Dyings. He is a member of the Pakistan Hosiery Manufacturers Association and Karachi Chamber of Commerce and Industry. He holds a Master of Business Administration (MBA) from the University of Boston in the US.

Fecto was first appointed as the CEO of Fecto Cement in 1993 and has held the position since then. He holds a MBA from the Quaid-e-Azam University.

Pakistan: Rising coal prices have reduced the profit at Fecto Cement in the half-year to 31 December 2018. Its profit after tax nearly halved to US$0.75m from US$1.63m. Its net turnover rose slightly to US$17.8m. Local cement sales volumes dropped by 9% to 0.32Mt from 0.35Mt and exports declined by 33% to 29,500t from 44,300t.

Pakistan: The Peshawar High Court has stopped construction of a cement plant by Fecto Cement at Palai in Malakand. Opponents of the project cited environmental and health concerns, according to the News International newspaper. Fecto Cement announced plans for its new 6000t/day plant in February 2018.

Pakistan: Fecto Cement plans to build a new 6000t/day cement plant at Palai in Malakand. The project will also include a waste heat recovery unit.