Fauji Cement records 3% increase in first quarter profit

Pakistan’s Fauji Cement has released its key financial data for the first quarter of the 2014 – 2015 financial year, ended 30 September 2014. The company announced a 3% y/y increase in net profit, which stood at Rs.602 million, compared to Rs.582 million recorded in the corresponding period in 2013 (earnings per share (EPS) increased to Rs.0.45).

During the reporting period, net sales totalled Rs.4.17 billion, an increase from Rs.3.87 billion recorded in the first quarter of the 2013 – 2014 financial year. The rise was attributed to a 4% y/y increase in cement prices to Rs.516 per 50 kg bag and a 3% y/y increase in cement dispatches to 0.59 million t. However, the cost of sales rose from Rs.2.6 billion in 1Q14 to Rs.2.84 billion in 1Q15. Other income fell from Rs.51.52 million to Rs.45.32 million in the period under review.

Furthermore, gross margins fell by 1% y/y to 32% during the first quarter due to inflationary pressures.

Edited from various sources by Rosalie Starling

Sources

• The Express Tribune
• Customs Today
• The Daily Heights

Read the article online at: https://www.worldcement.com/asia-pacific-rim/29102014/fauji-cement-records-3-percent-increase-in-first-quarter-profit-760/