Fauji Cement reports PKR377m in FY12 profit

Pakistan’s Fauji Cement Company Limited (FCCL) reported PKR377m (US$3.97m) profit after paying tax in FY12 compared with PKR359m in FY11.

Though FCCL achieved a 3.7x YoY growth in gross profit, but 17.6x jump in financial charges and 2.6x higher preference dividend led to a modest profitability growth, according to the Daily Times.

The company brought an extra 7200tpd of capacity online, which resulted in an 84 per cent increase in cement volumes to 2Mt. In addition, a 32 per cent rise in average retention price to PKR289/bag helped to generate a 143 per cent rise in net revenues to PKR5bn in FY12.