Fecto Cement reports loss in FY22-23

Fecto Cement Ltd has announced its financial results for the year ending 30 June 2023 (FY22-23). It shows a loss after tax at PKR133m (US$0.478m)) against the profit of PKR286m reported in FY22-23. The high cost of sales is expected to be one of the main reasons for losses.  

Fecto Cement’s sales increased to PKR8.68bn in the FY22-23 from PKR6.77bn in the FY21-22. Similarly, the cost of sales rose to PKR8.36bn in the FY22-23 from PKR5.90bn in the year-ago period.

The administrative expenses increased to PKR309m YoY from PKR263m in FY21-22. It incurred a higher distribution cost of PKR92m against PKR81m. The financial cost almost doubled during this period to PKR303m. Fecto Cement Ltd has a plant of 945,000tpa at Sangjani in Punjab, Pakistan.