Cement: High Retention Prices Fuel Profits in Lean Times January 24, 2024 – By IIS Research
<p></p><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">During 2QFY24, Local cement dispatches witnessed a decline
of 12% YoY, amid rising construction cost, higher interest rates which resulted
in muted local demand. On the other side, cement exports increased sizably by
166%, driven by south players as they are actively exploring export markets to
maintain higher utilization levels. During the Qtr., cement prices also
increased by PKR60/30 per bag in the north/south region to pass on increasing
freight cost arising due to implementation of axle load regime.</span></li></ul><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">We preview IIS cement universe 2QFY24 results where the
topline is expected to grow by 11% YoY to stand at PKR 104.4 bn vs. PKR 94.3 bn
in SPLY. Th...
