http://www.dailytimes.com.pk/default.asp?p..._7-3-2007_pg5_3
Cement dispatches record 32.2% growth
KARACHI: According to latest APCMA figures for the first eight months of the financial year 2007, cement dispatches have marked a huge growth of 32.17 percent on a year-on-year comparison, with total dispatches of 15.23 million tones, as compared to 11.52 million tonnes, sold in the same period last year.
This growth includes exports of 1.77 million tons soaring by 80.97 percent in the first eight months, whereas local dispatches recorded a growth of 27.65 percent with 13.47 million tonnes of dispatches.
The top-five listed beneficiaries enjoying this growth are Lucky, DG Khan, Bestway, Maple Leaf and Fauji Cement with 17.3 percent, 10.2 percent, 10.1 percent, 5.9 percent and 4.9 percent market shares, respectively.
After receiving 32 percent downward revision in profitability during the first quarter of the current financial year, printability of local cement sector remained under pressure for the second quarter, also leading to an overall 62 percent decline in profits, during the first six months of the financial year 2007.
With cement prices further falling in Oct-Dec 2006 period, the second quarter of the financial year 2007 would be worse for the cement sector than the first quarter,” said Atif Malik, an analyst at Jahangir Siddiqui Capital Markets Limited.
During the first quarter cement sector profits went down by 32 percent. Cement sector, in its recently announced first half results, have shown a 62 percent decline in its profitability. Cumulative profitability of the companies representing 91 percent of the listed cement sector capitalization stands at Rs 2.21 billion or $36 million, depicting a decline of 62 percent over first half of financial year 2006 combined profits of Rs 5.81 billion or $96 million. staff report