Fauji Cement sees 17% decrease in profit

Pakistan's Fauji Cement Co recorded a 17 per cent fall in profit to PKR2.824bn (US$17.7m) for the year ended 30 June 2019, compared with PKR3.429bn in the FY18. Revenue was mostly unchanged at PKR20.8bn, while volumes dipped by 13 per cent YoY to 2.96Mt.

Revenue declined four per cent YoY to PKR5.2bn during the 4QFY19, as higher retention prices offset some of the impact of a 16 per cent decrease in total sales to 710,000t. Local offtake dropped 15.3 per cent to 669,000t against 790,000t in the 4QFY18.