Cherat Cement FY14-15 profit dips two per cent

Cherat Cement Co Ltd reported a profit after tax of PKR1.288bn (US$12.6m)  during FY14-15, down two per cent from a year earlier, the company said in a notice to the Karachi Stock Exchange.

According to a report by Al Habib Capital Markets, during the year the privately-owned cement producer reported a modest two per cent YoY rise in its top line. A decline in dispatches (particularly export sales) was partially mitigated by a rise in net retention price.

Gross profit margins remained relatively muted during FY15 due to an increase in electricity tariffs and a rise in royalties limestone which was partially mitigate by international lower coal and oil prices.

Cherat Cement’s 1.1Mta cement plant is located just over 50km from Peshawar, North-West Frontier Province.