DG Khan Cement posts over double its last FY profit

DG Khan Cement posts over double its last FY profit
Published: 22 September 2005

Khan Cement at the end of June 2005 fiscal year earned a net profit surpassing even double the amount of the previous year, however, the stakeholders’ expectations regarding bonus shares remained a far cry.

The company posted a net profit of Rs1.68bn in 2004-05 as compared to Rs830m during previous fiscal year, 2003-04, according to the results released here in stock exchange.

The experts told that the boost in profit was attributable to cement sales besides income to the company from other sources as well.

D. G. Khan Cement has declared payment of 15 percent cash dividend to its shareholders, but its shares in the market remained under pressure, as the investors’ expectations of a bonus had fallen flat.

Its share this morning in the market was quoted at Rs73, which later fell down to Rs69.35 in the wake of the announcement of company’s results.

In the backdrop of cement sales surge by 19 per cent and enhanced prices of cement during previous financial year, the market pundits have kept their hopes pinned up with other cement companies giving good financial results.

D. G. Khan Cement’s income per share worked out to Rs9.12.