Bestway and Cherat show good financial results

Bestway Cement Ltd has announced earning a profit of PKR13.29bn (US$126m) for the financial year ended 30 June 2017, against PKR11.88bn in corresponding period last year. This showed profits jumped by 12 per cent for the Pakistan-based cement producer.
 
The company announced a final cash dividend of PKR3/share, which is in addition to interim dividend already paid at PKR9/share. Gross turnover stood at PKR71.44bn, increased from PK58.54bn of last year.
 
The company incurred selling and distribution expenses of PKR1.55bn and administrative expenses of PKR2.40bn, against PKR1.17bn and PKR2.46bn, respectively incurred in the financial year 2016.
 
Bestway Cement has a cement production capacity of 7.9Mta.
 
Meanwhile, Cherat Cement Co Ltd (CHCC) announced earning of net profit after tax of PKR1.95bn in FY17, up 39 per cent YoY. The company also announced final cash dividend of PKR3.5 per share to take full-year dividend to PKR4.5.
 
The company has incurred distribution expenses of PKR279.99m and administrative expenses of PKR225.10m, against PKR 234.24m and PKR 192.27m, respectively incurred in the financial year 2016.
 
Cherat Cement has cement production capacity of 2.42Mta.