Dewan Cement reports jump in pre-tax profits
Published by Jonathan Rowland,
Editor
World Cement,
Pakistan’s Dewan Cement has announced significant improvements in its operating results for 4Q16 and 2H16 on the back of improved turnover and a reduction in the cost of sales and distribution.
The company reported quarterly turnover slightly down at PKR3.25 billion (US$30.89 million) – a 2.2% year-on-year fall. With costs falling by PKR12.2%, however, pre-tax profits were soared by 79.1% to PKR372.1 million (US$3.52 million).
For the last six months of the year, Dewan reported a 4.7% increase in turnover to PKR6.2 billion (US$58.8 million). Falling costs again helped the company reported a 59.1% spike in pre-tax profits to PKR737.34 million (US$6.98 million).
Cost of sales were down 0.7%, while the company’s distribution costs fell 52.9% over the half year to PKR96.96 million (US$0.92 million).
Read the article online at: https://www.worldcement.com/indian-subcontinent/28022017/dewan-cement-reports-jump-in-pre-tax-profits/
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