Attock Cement profit falls 16% in 1QFY19-20

Attock Cement Pakistan Ltd (ACPL) of Pakistan has announced its financial results for the first quarter ended 30 September 2019. It declared a net profit of PKR357m (US$2.3m), against PKR423m earned in the same period last year. It shows profit dropped by 15.5 per cent due to a fall in revenue, which stood at PKR4.96bn from PKR5.68bn during this period.

Other factors that led to the profit fall were the increase in distribution cost, administrative expenses and finance cost, says a notification of the company to the Pakistan Stock Exchange. The distribution and administrative expenses have increased to PKR488m from PKR470m and to PKR131m from PKR129m, respectively during this reporting period.

The company has a cement capacity of 2.99Mta in Hub Chowki, Lasbela, in Baluchistan.