Dandot Cement Company Ltd (DCCL) of Pakistan announced its financial results for the year ended 30 June 2018, declaring a net loss of PKR751.45m (US$5.62m) up by 42.4 per cent YoY, as compared to loss of PKR527.68m reported in the same period last year.
DCCL's net sales decreased by 27.7 per cent to PKR1.3bn YoY, as compared to PKR1.8bn in the same period last year. The company incurred lower distribution expenses of PKR5.11m against PKR24.15m in the same period last year. The administrative expenses increased to PKR66.186m from PKR55.817m in the same period last year.
The company owns a 504,000t of cement plant in Jehlum, Punjab.
Dandot being acquired by Calicom Industries
Meanwhile, PSX has informed through a notice on 5 November to all public and other stakeholders that authority has received a letter from Pervez Ahmed Capital (Private) Ltd, regarding Public Announcement of the Intention to Acquire 63,542,787 ordinary shares (67 per cent) of Dandot Cement Company under section 114 of Securities Act, 2015 ('Act').
