Bestway Cement declares cash dividend
Bestway Cement, Pakistan, has posted an after-tax profit of Rs 931 million during the financial year ended June 30, 2005, showing an increase of 37 percent from Rs 3,801 million earned last year. The company announced a cash dividend of 10 percent and bonus of 1 share for every 10 shares. The company recorded an increase of 16 per cent in cement sales to 1,205,588t from 1,039,138t in last fiscal year. In rupee terms the sales rose to Rs 4.906 billion.
Capacity utilisation of Bestway Cement during the year under review was 98 per cent, which is one of the highest in the industry and also well above industry average of 93 per cent. The dispatches by the company increased from 1,039,138t to 1,205,588t for the year, an increase of 16 per cent.
The company retained more than 8 percent of the market share in the north zone. Bestway Cement also remained the largest exporter of cement to Afghanistan. The industry as a whole exported 1,565,170t during the period under review against 1,118,108t last year. Of this, 281,952t was dispatched by Bestway Cement alone, which accounts for more than 18 per cent of the total exports, making the company one of the largest exporters of cement.