Fauji Cement posts 20% sales increase in 1HFY23-24

Pakistan’s Fauji Cement Co Ltd has reported sales of PKR40.35bn (US$145.75m) in the1HFY23-24, ended 31 December 2023. This compares to PKR33.67bn in the same period a year earlier, marking a 19.83 per cent YoY increase. Net profit over the same period advanced by 3.83 per cent from PKR5.079bn to PKR5.273bn.

Over the six-month period, the cost of sales increased by 17.32 per cent from PKR23.434bn to PKR27.493bn, while gross profit came in at PKR12.858bn, up 25.59 per cent on the PKR10.238bn seen in the 1HFY22-23. 

In terms of expenses, the company posted a 39.5 per cent increase in selling and distribution expenses to PKR1.639bn, while taxation stood at PKR2.82bn in the 1HFY23-24, up 28.17 per cent on the PKR2.2bn reported in the same period a year earlier. Basic earnings per share in the 1HFY23-24 were PKR2.15, down from PKR2.25 in the 1HFY22-23.