Pakistan: Bestway Cement pretax profits up 45%

In an earnings statement released today, Bestway Cement announced that its pretax profits for 9MFY2016 were PKR12.64bn (US$121m), up 45 per cent on the same period last year.

After tax, the firm’s profits were up 49 per cent, to PKR9.24bn (US$88m).

According to a report in the Nation, Bestway’s turnover rose by over 49 per cent to PKR32.91bn (US$314m). The scale of the increase was attributed to Bestway’s acquisition of Pakcem and increasing domestic demand. This was offset to a degree by falling exports and a decline in retention prices.