Flying Cement profits recede in FY19

Flying Cement Company Ltd (FCCL) of Pakistan has announced its financial results for FY19. It declared a net profit of PKR142.36m (US$0.9m) against PKR181.5m earned in the same period last year. 

FCCL showed a profit dropped by 21.6 per cent. The fall in profit is reportedly due to increase in the cost of sale to PKR3bn from PKR2.6bn during this period, despite increase in sale.

The company sales stood at PKR3.2bn compared to PKR2.9bn in the same accounting period last year. The distribution and administrative expenses have also increased to PKR9m from PKR7m and PKR48.9m from PKR46.4m respectively during this reporting period.