Dewan Cement posts losses in FY19

Dewan Cement Ltd (DCL) of Pakistan has announced its financial results for FY19 today. DCL incurred a net loss of PKR275m (US$17,608) as compared to profit of PKR902m earned in the same period last year. Apparently, decline in sales and increase in taxes, induced the profit to fall during the reporting period.
 
DCL incurred a lesser distribution cost to PKR139m against PKR156m experienced in the same period last year. However, the administrative cost was increased to PKR701m in FY19 from PKR688m in FY18. The company sales also decreased by 10.2 per cent at PKR12.05bn compared to PKR13.42bn in the same period last year.