Kohat Cement sees 59% rise in full-year profit, Pakistan

Pakistan-based Producer Kohat Cement reported a 59 per cent surge in net profit for FY12-13 mainly due to favourable cement and coal pricing trends as well as lower financial costs.

For the 12 months ending 30 June 2013, the company posted a profit after tax of PKR2.64bn compared to PKR1.66bn in the previous fiscal.

Kohat Cement CEO and All Pakistan Cement Manufacturers Association chairman, Aizaz Mansoor Shiekh, said improved cement prices both in domestic and to export markets, stable coal prices and lower financial costs contributed to the stellar performance.

He also remains positive that the current trends in coal and cement prices will continue to bode well for domestic producers in the current year.