Pakistan’s DG Khan Cement Company reported consolidated profit after tax of Rs.1.16 billion for 1Q15 (ended 30 September 2014). This represents an 8% y/y increase from Rs.1.07 billion recorded in the corresponding period of 2014. The company additionally reported earnings per share (EPS) of Rs.2.64.
The first quarter results remained slightly below analysts’ forecasts due to a decline in average retention prices and the cost of sales being higher than expected. Sales were largely flat during the quarter, down by a nominal 0.7% as a result of falling exports. Despite this, a 1.54-time y/y rise in other income to Rs.437 million in 1Q15 supported DG Khan’s bottom-line.
Alongside the first quarter results, the Board additionally approved a 30 MW pulverised coal-fired captive power plant at DG Khan’s facility in Khofli Sattai, Dera Ghazi Khan.
Edited from various sources by Rosalie Starling
Read the article online at: https://www.worldcement.com/asia-pacific-rim/27102014/dg-khan-cement-posts-1q15-results-739/