Cherat Cement Company profit rises, Pakistan

Cherat Cement Company profit rises, Pakistan
Published: 03 September 2009

Cherat Cement Company Limited (CHCC) announced Tuesday its financial results for the year ended June 30, 2009 (FY09), according to which, the company has announced a profit after tax of Rs159.28 million as compared to Rs10.35 million during the same period last year.

Lower coal prices, which remained at around $70 per tonne for the most part of the year, mainly contributed to the company’s staggering jump in earnings. On the other hand, net sales of the Cherat Cement surged to Rs4.5 billion in the period under review as against Rs3.01 billion during the same period last year showing a 50 per cent jump, resulting in major increase by 17 per cent in dispatches with decent per bag price.

The sales cost of the company remained at Rs3.89bn with 14 per cent gross profit margin in FY09m, while the financial cost of the company hiked to Rs114.35m in Financial Year 2008-09 as compared to Rs81.57 million reported during the corresponding period of last year.