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Lafarge Pakistan saw a 21% increase in profit in 2013

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World Cement,

Lafarge Pakistan posted a profit after tax of Rs.1.8 billion for the year ended 31 December 2013; a 21% y/y increase compared to Rs.1.48 billion in 2012. Earnings per share stood at Rs.1.37, against Rs.1.13 in 2012. The company also announced a cash dividend of Rs.0.30 per share.

The company’s pre-tax earnings increased by 4% y/y compared to the same period a year earlier and the gross margin decreased from 33% in 2012 to 31% in 2013. According to JS Research, the research division of Pakistani financial services company JS Group, strong growth at the bottom line can be attributed to lower financial charges, which fell by 37% y/y, and a tax reversal.

However, following the results announcement, the company revised its gross margin forecasts and earnings estimates for the next few years. According to reports, gross margin estimates have been reduced for the financial years 2013 – 2014 (34%), 2014 – 2015 (39%) and 2015 – 2016 (33%).

Edited from various sources by Rosalie Starling

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