Displaying items by tag: Thatta

Pakistan: Thatta Cement has appointed Naheed Memon as the chairperson of its board of directors. She succeeds Khawaja Muhammad Salman Younis, who left the role on 23 September 2019.

Pakistan: Thatta Cement has blamed a fall in profit on rising input costs and negative currency effects. Its profit dropped by 40% year-on-year to US$1.36m in the financial year to 30 June 2019 from US$2.27m in the same period in 2018. Sales and distribution costs more than tripled to US$1.4m. Its net sales grew by 22% to US$22m from US$18m. Total cement and clinker despatches increased by 34% to 0.56Mt from 0.42Mt.

Pakistan: Thatta Cement has appointed Mohammad Abid Khan as its company secretary. He succeeds Shabid Yaqoob who has stepped down from the role.

Pakistan: Thatta Cement’s sales rose by 35% to US$16.7m in the half-year to 31 December 2018 from US$12.4m in the same period in 2017. Its cost of sales rose by 48% to US$12.5m from US$8.4m. Its profit for the period fell by 6.5% to US$2.2m from US$2.3m.

Pakistan: Thatta Cement has approved a waste heat recovery project with its associated company, Thatta Power, at its annual general meeting. The two subsidiaries of the State Cement Corporation of Pakistan have ratified a waste heat utilisation agreement. The cement producer operates a 0.6Mt/yr plant at Thatta near Karachi.

Pakistan: Thatta Cement’s standalone sales fell by 22% US$23.1m in the financial year to 30 June 2018 from US$29.7m in the same period in 2017. Its gross profit fell by 35% to US$6.1m from US$9.4m. Its profit for the year fell by 39% to US$2.9m from US$4.7m.

Pakistan: Thatta Cement’s sales revenue rose by 34% to US$36.3m in its financial year that ended on 30 June 2017, from US$27.1m in the same period in 2016. Its profit increased by 8.7% to US$6.8m from US$6.3m.

Pakistan: Thatta Cement has appointed Muhammad Taha Hamdani as a director with effect from 16 December 2016. He replaces Wazir Ali Khoja. Hamdani has worked for Thatta Cement as its Chief Financial Officer and Company Secretary since 2011. Previously to this he has worked for a variety of companies in financial and auditing positions.

Sri Lanka: Work on a Thatta Cement project in Sri Lanka has ended because the Sri Lanka Ports Authority (SLPA) has not yet executed the Land Lease Agreement (LLA). Basic engineering for the cement grinding, storing and bagging plant has been completed but the project has been suspended pending legal issues.

Thatta Cement secretary Taha Hamdani has complained to capital market regulators about the SLPA also signing an agreement with another company whose operational area lies close to its cement project. It appears to obstruct setting up of the cement project within the layout originally planned by the SLPA. The company officials say further progress on the project would recommence 'as soon as LLA is signed with SLPA'.

Sri Lanka: Work on Thatta Cement's cement grinding, storing and bagging plant in Sri Lanka has come to a screeching halt.

The company informed investors on 14 March 2014 that the project was 'temporarily suspended' as the Sri Lanka Ports Authority (SLPA) had not executed the Land Lease Agreement (LLA), despite the fact that basic engineering of the project had been completed by Thatta Cement Company (Pvt) Ltd, a subsidiary of Thatta Cement Company.

The CFO and company secretary of Thatta Cement, Muhammad Taha Hamdani, complained that the SLPA had also signed an agreement with another business venture of car trans-shipment in close vicinity to the proposed cement project, "Without anticipating the expected operational conflict, which now appears to hinder setting up the proposed cement project within the layout originally planned by the SLPA."

The company official stated that further progress on the project would recommence as soon as the LLA is signed with the SLPA.