Pakistan: Flying Cement profits up 24%

Pakistan's Flying Cement Co Ltd has reported that it earned profit after tax of PKR145.69m (US$1.38m) in FY16, up by 24 per cent from last year. The cement producer does not announce any cash dividend, according to a company notice to Pakistan Stock Exchange.

Company sales increased to PKR2.47bn in FY16 from PKR2.22bn in FY15. Flying Cement has incurred a distribution cost of PKR5.1m and administrative expenses of PKR26.39m, compared to PKR4.7m and PKR25.35m, respectively in corresponding period last year.

Flying Cement's plant is located in Mangowal, district Khushab, in the heart of Punjab province. Its single kiln has an installed clinker capacity of 4000tpd using the latest dry-process technology and a rated cement capacity of 1.26Mta.