Profit of Attock Cement falls in 6MFY19

Attock Cement Pakistan Ltd (ACPL) has announced earnings of PKR816.79m (US$5.8m) for the half year ended December 2018, a fall of 29 per cent YoY, as compared to PKR1.152bn earned in the same period last year.

Company net sales increased by to PKR10.63bn from PKR7.36bn during this period. Distribution cost of PKR749.39m were incurred against PKR279.18m in the same period last year.

The administrative expenses stood at PKR252.11m compared to PKR241.74m incurred in the same period last year. The company's financial costs also increased to PKR300.54m from PKR78.29m during this reporting period.

Iraq project
Meanwhile, the company also announced that the entire civil, mechanical and electrical jobs at its joint venture cement grinding unit in Basra, Iraq, are at the commissioning stage. The company is in the process of obtaining permission for the import of clinker. As soon as the permission is granted, ACPL will start trial production.