Pioneer Cement reports 98% surge in full-year net profit

Pakistan-based Pioneer Cement Ltd, reported revenue of PKR35.52bn (US$127.7m) in the FY23-24 ended 30 June 2024. This represents a drop of 1.8 per cent when compared with PKR36.165bn in the FY22-23.

However, the company’s gross profit improved by 25 per cent YoY to PKR11.763bn in FY23-24 from PKR9.409bn in the year-ago period while operating profit saw a 21 per cent uptick to PKR10.756bn from PKR8.889bn over the same period.

The company’s net profit advanced by 98.2 per cent to PKR5.176bn in the FY23-24, up from PKR2.611bn.

Earnings per share improved from PKR11.50 to PKR22.79.