Latest news with #AttockCement
Business Recorder
22-07-2025
- Business
- Business Recorder
Better, not the best
After beingsnubbed in the Attock Cement sale by its parent company, Pharaon Investment Group Limited (PIGL), Bestway Cement (PSX: BWCL), arguably one of the country's cement heavyweightsseems to be making its point where it counts: the bottom FY25, the company's post-tax earnings are up 73 percent, with a revenue growth of only 4 company's clinker production during this time dropped by at least 5 percent with a capacity utilization of about 44 may appear impressive, given the reduction in volumes, but for the company the size of Bestway, this would be graded a solid B plus. By no measure is it a home run, for instance. Bestway has the second largest combined production capacity in the country, next to Lucky and by comparison lags significantly behind. In 9M, Lucky's revenues were 15 percent higher than Bestway but was disproportionately higher than the latter in terms of earnings; 56 percent to be exact. Lucky has no finance costs to speak of. It has made investments that give it steady returns. In 9MFY25, Lucky's other income contributed 48 percent to its before-tax earnings. Meanwhile, Bestway's finance costs are nearly 8 percent of revenues with very little other income earned. Compared to other smaller companies too, Bestway does not perform as well. Both Kohat and Cherat cement for instance have higher margins (gross profit and operating profit) than Bestway while Fauji and Mapleleaf have marginsat par with Bestway. On its own, Bestway has done well. Solid pricing in the northern markets has ensured a growing margin profile. Despite a reduction in volumes, revenues expanded. In FY25, net margins are up 67 percent, finance costs are down from 11 percent to 7 percent (helped by falling interest rates), and overheads are maintained at 3 percent of revenue. Improved demand in FY26, which is an expected side effect of economic rebound and with it, government's development spending will provide impetus to revenues across the board. The fiscal measures to boost real estate activity, from tax reductions to markup subsidies, will temporarily restore volumes. For many smaller companies, the question is how to grow to the size of companies like Bestway. But for Bestway, the questions are different: will it break out of its set mould or will it continue to do reasonably well, but just. Copyright Business Recorder, 2025
Bloomberg
30-05-2025
- Business
- Bloomberg
Attock Cement Pakistan Is Said to Draw Cherat, Bestway Interest
Pharaon Investment Group Ltd.'s potential sale of Attock Cement Pakistan Ltd. is attracting initial interest from rivals including Cherat Cement Co. and Bestway Group, people with knowledge of the matter said. Cherat and Bestway are among suitors considering bids for the business, the people said, asking not to be identified because the information is private. Kot Addu Power Co. has also been evaluating Attock and may explore a joint offer with a local building materials producer like Fauji Cement, the people said.
Express Tribune
10-02-2025
- Politics
- Express Tribune
SHC issues notice, seeks govt response over PECA Act petition
Listen to article The Sindh High Court has issued a notice to the federal government and sought a response regarding a petition against the PECA Act within two weeks. The two-member bench, led by Chief Justice of Sindh High Court Justice Mohammad Shafi Siddiqui, heard the petition challenging the PECA Act. The court inquired, "What is wrong with this law? Shouldn't anyone who spreads false news face punishment?" The petitioner's lawyer, Barrister Ali Tahir, raised the fundamental question of who determines what is false or true. Chief Justice remarked that not all decisions are made by the courts; some are made by authorities. "You also have the right to appeal against the authorities' decisions." Barrister Ali Tahir argued that such decisions should be made by the court as they involve fundamental rights. The Chief Justice responded, saying if this is a matter of fundamental rights, then the case should be heard by a constitutional bench. Barrister Ali Tahir cited the Attock Cement case, where the court had decided that regular benches could review the constitutional validity of any law. The court issued a notice to the federal government and directed that a response be submitted within two weeks, adjourning the hearing for two weeks. Earlier, Pakistan Tehreek-e-Insaf (PTI), along with civil society and journalistic organisations, challenged the PECA Amendment Act 2025 in the Lahore High Court. Opposition Leader of the Punjab Assembly, Ahmed Bachhar, along with others, filed the petition against the PECA Act 2025 through Advocate Azhar Siddique. The petition has named the provincial government, the Chief Secretary, and others as respondents. The petition argues that the PECA Amendment Act violates Article 19-A of the Constitution. It states that the Act does not define "fake news," allowing authorities to label any news as fake and take action on political grounds. According to the petition, the amended Act requires journalists to disclose their news sources, which is a violation of journalistic ethics. The petition requests the court to declare the PECA Amendment Act unconstitutional and annul it. Additionally, it urges the court to halt any actions under the Act until a final decision is made.
