At the 10th Extraordinary General Meeting of Fauji Cement Co (FCCL)'s Board of Directors, held on 29 November, the company secretary was authorised and empowered for the execution of a new cement plant in Pakistan. FCCL also elected executive, non-executive and independent directors for a term of three years commencing from 13 December 2018 to 12 December 2021.
 
First-quarter FY18-19 results
During first quarter of FY18-19, FCCL earned a net profit of PKR801m (US$5.97m) as compared to PKR444m in same period of the last year. Sales revenue stood at PKR5342m, compared to PKR4794m in corresponding period of last year showing growth of 11 per cent.

Cost of sales decreased by 11 per cent and company has earned a gross profit of 27 per cent as compared to 17 per cent of corresponding period of last year.

The improvement in profitability is mainly attributable to Line 2 being under rehabilitation last year and the company were also purchasing clinker from outside at that time, which affected margins. In the current accounting period Line 2 was has been running at optimum capacity.
 
FCCL's plant is located at Fateh Jang  in Punjab. The clinker capacity stands 3.27Mta and  3.433Mta of cement, respectively.