Displaying items by tag: Pakistan

Pakistan: Lucky Cement has counteracted mounting costs with increased export sales. Its gross sales rose slightly to US$420m in its financial year to 30 June 2019. Its profit after tax fell by 14% year-on-year to US$65.2m from US$75.8m from the same period in 2018. Its cost of sales grew by 11% to US$190m from US$211m. Its cement sales volumes fell by 1.8% to 7.67Mt. However, its export sales increased by 60.9% to 1.82Mt.

The cement producer said that the first shipment of machinery from China’s Sinoma to its new 1.2Mt/yr integrated plant project at Samawah in Iraq. A power plant has also been ordered from Finland’s Wärtsilä. Commercial production at the site is planned for mid-2020.

Pakistan: Data from the Pakistan Bureau of Statistics shows that cement exports grew by 40% year-on-year to 6.41Mt in the financial year to the end of June 2019 from 4.56Mt in the same period in 2018. The value of the exports rose by 22% to US$272m from US$223m.

Pakistan: DG Khan has signed a deal with Sinoma Energy Conservation for upgrades at the integrated Hub cement plant in Baluchistan. The agreement includes a 10MW waste heat recovery (WHR) unit and a 30MW coal power plant. No cost of the project or date of completion has been disclosed.

Pakistan: Power Cement says it has completed the procurement and installation of machinery on the new third production line at its Nooriabad plant. This includes a 2.46Mt/yr clinker line and a 2.72Mt/yr cement and dispatch line. The equipment was ordered from Denmark’s FLSmdith. The cement producer says the upgrade has made it the largest in southern Pakistan with a total clinker production capacity of 3.42Mt/yr and a cement capacity of 3.73Mt/yr.

Pakistan: The All Pakistan Cement Dealers Association has suspended sales of cement in protest against ‘unjustifiable’ taxes. Asif Saeed, the president of the association, has accused the government and the Federal Board of Revenue (FBR) of levying ‘numerous’ taxes on the cement sector, according to the Business Recorder newspaper. He claimed that the association’s members will remain on strike until their demands are met.

Pakistan: The gas supply to Lucky Cement’s Pezu plant has been disrupted by an investigation by Suit Northern Gas Pipelines (SNGP) into unaccounted-for gas. An initial short shutdown to the supply has been extended to over a month, according to the news International newspaper. The gas supplier is investigating widespread theft of its gas via illegal connections.

Pakistan: Lucky Cement’s revenue grew by 12% year-on-year to US$729m in the first nine months to 31 March 2019 from US$654m in the same period in 2018. Its local cement and clinker sales volumes dropped by 13% to 4.4Mt from 5.1Mt. Export sales more than doubled to 1.5Mt from 0.7Mt, Overall sales volumes rose to 6Mt. Its income fell by 18% to US$80m from US$97.3m. It said that its cost of sales rose by 14.1% due to rises in the cost of coal, packing material and other fuel prices.

The cement producer said that a 2.6Mt/yr expansion project in Khyber Pakhtunkhwa would be completed by the end of 2019. Contacting for a new 1.2Mt/yr plant in Samawah in Iraq has been finalised including a power plant from Finland’s Wärtsilä. Commercial production at the site is planned for mid-2020.

Pakistan: Bestway Cement’s turnover grew slightly to US$421m in the nine months to 31 March 2019 from US$414m in the same period in 2018. Its profit rose by 9.5% to US$67.4m from US$61.5m.

Pakistan: DG Khan’s sales rose by 30% to US$215m in the nine months to 31 March 2019 from US$165m in the same period in 2018. However, its profit dropped by nearly half to US$18.5m from US$35.1m. Its cost of sales increased by 56% in the reporting period.

Pakistan: Maple Leaf Cement’s net sales fell by 5% year-on-year to US$129m in the first quarter of 2019 from US$136m in the same period in 2018. Its profit after tax dropped to US$13.4m from US$23.8m.