Pakistan’s DGK Cement posts profits

Pakistan’s DGK Cement posts profits
Published: 28 October 2004

The profit of DG Khan Cement in the first quarter ended September 30, 2004, may range from Rs 235 million (US$3.9 million) to Rs 302 million. DG Khan sold 484,000t cement during 1QFY05, about 37 percent higher compared to dispatches during similar period last year. Due to this and better retention price, analysts expect D G Khan net sales to increase by 45 percent to Rs 1.3 billion.

The company’s before tax profit is expected to increase by 44-50 percent to 362-377 million rupees, compared to similar period of last year. "We are forecasting earnings growth of 23 percent in the 1Q’05 over 1Q’04 on the back of increase in local dispatches, higher export volume and better sales price.