Pioneer Cement sees profits fall by 38% in 1QFY19

Pioneer Cement Ltd (PCL) announced its financial results for the 1QFY19 on 25 October. It posted a profit fall to PKR257m (US$1.93m), down by 38.4 per cent YoY, as compared to PKR417m reported in the same period last year.
 
According to PCL's notification to Pakistan Stock Exchange (PSX), company sales during the quarter increased by 2.5 per cent YoY to PKR3.23bn from PKR3.15bn reported during the same period last year.
 
The company incurred higher distribution cost of PKR41m and administrative expenses of PKR28m compared to PKR30m compared to PKR21m, respectively in the corresponding period last year.

The company has a cement capacity of 2.03Mta in Khushab, Punjab province.