DG Khan Cement posts 34% rise in annual profit, Pakistan

DG Khan Cement, part of the Nishat Group and one of Pakistan's largest cement manufacturers, posted a 34 per cent YoY increase in profit for fiscal year 2012-13.

According to a notice sent by the company to the Karachi Stock Exchange, the company reported a net income of PKR5.5bn for the fiscal year 2013, compared PKR4.11bn in fiscal 2012.

The rise in earnings was attributed to better cement prices and an increase in other income but were lower than analysts’ estimates due to a higher than anticipated tax rate of 37.4 per cent in the final quarter of the fiscal.

Industry observers say the outlook for DG Khan, along with the Pakistan cement sector as a whole, is upbeat due to strong domestic demand and higher cement prices.