Pakistan’s Fauji Cement Company Ltd (FCCL) has released its unaudited financial results for the third quarter of their current financial year and the nine months ending on 31 March 2013.
During the nine month period, cement sales volumes increased by 26% y/y for the company, increasing from 1.46 million t to 1.85 million t. Local sales reached 1.47 million t up from 1.11 million t in the same period last financial year, while export sales volumes were up by 6% to 0.38 million t. FCCL achieved a higher capacity utilisation than last year, rising from 66% to 72%. The amount of clinker and cement produced during the period grew by 14% y/y and 24% y/y, respectively.
Net profit after tax increased to approximately Rs.1.57 billion, with sales revenue increasing from Rs.7.47 billion to Rs.11.6 billion. Gross profit came in at Rs.3.77 billion, while operating profit rose to Rs.3.4 billion.
Results were also positive in the quarter ending 31 March, when net profit after tax increased from Rs.242.9 million to Rs.647.1 million. Gross profit reached Rs.1.3 billion and sales revenue grew to Rs.4.1 billion.
The company expects domestic demand for cement to remain stable in the fourth quarter of the current financial year, whilst indicating that furnace oil may have to be used to generate electricity if the available electricity supply in the country proves to be a challenge.
Adapted from press release by Louise Fordham.
Read the article online at: https://www.worldcement.com/asia-pacific-rim/01052013/pakistan_fauji_cement_financial_results_2013_965/