Fauji Cement first half profit rises by a third

Pakistan producer Fauji Cement reported a 33 per cent rise in first-half profit of PKR1.67bn (US$16.4m) compared to PKR1.25bn a year earlier.

Earnings surged 77 per cent QoQ to PKR1.06bn or an EPS of Rs0.80 during 2QFY14-15 because of the increase in margins and lower finance cost.

Revenues increased nine per cent YoY to PKR8.99bn during the first half due to and increase in sales volumes to 1.24Mt and a higher proportion of domestic sales (82 per cent compared to 80 per cent a year earlier).