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Dewan Cement reports jump in pre-tax profits

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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).

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Pakistan cement news