Fauji Cement 9M net profits total PKR2.12bn

According to Board of Directors report of Fauji Cement Co Ltd (FCCL), during the nine-month period ended 31 March 2018, it earned a net profit of PKR2.12bn (US$18.36m)  as compared to PKR1.972bn (US$17m) in the same period last year. FCCL achieved capacity utilisation of 98 per cent, compared to 87 per cent in the corresponding period of the last year.

FCCL's local dispatches stood at 2.328Mt, compared to 2.132Mt during the corresponding period of the last year, showing an increase of nine per cent. Export reached stood at 229,642t as compared to 112,698t in the same period of last year, an increase of 104 per cent.

The company's waste heat recovery power plant at Line No 1 was commissioned on 28 February 2018.

Industry performance in nine months
Pakistan's cement Industry achieved a growth of 14.7 per cent during nine months of current financial year with volumetric sales of 34.76Mt as compared to 30.3Mt during the same period last year. The local sales volume registered a growth of 17.9 per cent to 31.31Mt in 9MFY17-18, as compared to 26.55Mt in the same period last year. Whereas, export sales has registered a decline of 8.3 per cent to 3.44Mt, as compared to 3.75Mt in the 9M16-17.