Fauji Cement sees 56.75% increase in profit in FY15

Pakistan’s Fauji Cement has reported its financial results for the 2015 financial year (FY15), including a 56.75% increase in profit after tax to Rs.4.1 billion. Revenue was up 6.3% to Rs.18.6 billion. The growth in margins is attributed to lower coal and power costs and the start-up of its waste heat recovery plant.

Sales were up 18% in the final quarter compared to the previous quarter. Cement demand in Pakistan has been on the increase this year, though exports have been disappointing.

Elsewhere in Pakistan, Lucky Cement is reportedly close to winning a permit for limestone extraction in Punjab province. The company is said to be making the most of increased domestic demand and expanding its presence in Pakistan.

Edited from various sources by Katherine Guenioui

Sources:

• Tribune
• Business Recorder
• Bloomberg

Read the article online at: https://www.worldcement.com/asia-pacific-rim/02092015/fauji-cement-sees-increase-in-profit-in-fy15-477/