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Fauji Cement achieves 27% growth in net income

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World Cement,

Fauji Cement Company has reported its results for the fiscal year 2013/2014, ending 30 June 2014. Net income was up 27% at Rs.2.39 billion, while revenue increased 9.8% at Rs.17.5 billion. Profit for the year was also up, at Rs.2.6 billion from Rs.2.1 billion last year. Dispatches grew y/y to 2.45 million t and cement prices increased, contributing to the growth in revenue. Electricity tariffs increased 60% y/y, but lower coal costs and higher cement prices protected margins, which increased by 3 percentage points to 35%.

The fourth quarter results were impacted by high taxes, bring earnings down 40% to Rs.403 million. 

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