Fauji Cement swings to profit, Pakistan

Fauji Cement reported a rise in net profit in the first half of FY13 compared to a loss in the same period of last year. The Pakistan-based producer also reported a strong rise in revenue due to higher selling prices.

The company reported a net profit of PKR0.923bn in the first half of the current fiscal compared to a loss of PKR0.102bn in 1HFY12.

Revenue reached PKR7.567bn in the period, up by 77 per cent compared to PKR4.257bn in FY12 thanks to a better pricing environment. Prices were reported to be up by 13 per cent in the south zone to PKR465/bag and by eight per cent to PKR438/bag in the north.

Total cement dispatches stood at 662,000t in the second quarter.

Fauji Cement operates a cement plant at Jhang Bahtar, Tehsil Fateh Jang, District Attock in the province of Punjab. It has a clinker and cement capacity of 3.27Mta and 3.43Mta, respectively.