Pakistan: Cherat Cement sees FY1516 profits rise 9%

Cherat Cement Company has reported a rise in net profits of 9.1 per cent for the year ending June 30, 2016, Pakistan's The News reports. Profits reached PKR1.4bn (US$13.3m) on sales revenues of PKR7.1bn – the latter up by 7.8 per cent.

Faizan Ahmed of JS Global said that the rise was drive by stronger sales and falling energy prices, stating: “Most of the increase in dispatches was led by local dispatches as exports continued to wither throughout in FY16. This shift has resulted into higher profitability for the company”.