Pioneer Cement announces 28% fall in net profit

Pakistan’s Pioneer Cement Limited (PCL) has announced a 28.1 per cent YoY decrease in net profit to PKR825m (US$5.82m) for the nine months ended 31 March, compared to PKR1.14bn in the year-ago period.

However, net sales increased 3.8 per cent to PKR10.43bn from PKR10.05bn. The company incurred a distribution cost of PKR132m against PKR114m in the 9MFY17-18. Administrative expenses also rose 22.1 per cent to PKR83m from PKR68m incurred in the same period last year.

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