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Fauji Cement achieved 33% improvement in net profit

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World Cement,

Pakistan’s Fauji Cement has reported its results for 1H15, ending 31 December. The figures show that net profit of Rs.1.67 billion was achieved, an improvement of 33% y/y. Revenues for 1H15 were up 9% y/y at Rs.8.99 billion thanks to a 5% increase in cement sales volumes to 1.24 million t. Domestic sales were also up y/y, making up 82% of total sales compared to 80% in 1H14.

In 2Q15, earnings were up 77% q/q at Rs.1.06 billion, attributed to lower financial costs and an increase in margins. Revenues were up 15% q/q as cement sales volumes increased by 14%.

Financial charges fell 39% during 1H15 to Rs.402 million due to a 22% decline in outstanding debt to Rs.8.3 billion. Furthermore, the foreign exchange gain in 2Q15 led to a q/q decline in financial costs of 78%.

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