Lafarge Pakistan reports profit in 1Q11??

Lafarge Pakistan reports profit in 1Q11??
09 May 2011

Lafarge Pakistan Cement Ltd. has reported a profit after tax of PKR13.847m (US$0.16m) as opposed to losses of PKR407.719m in same period last year.

Its sales stood at PKR1.675bn against PKR1.639bn of Jan-March 2010. Its financial cost increased to PKR 213.525m from PKR175.984m last year.

Maj. Gen. (R) Rehmat Khan, CEO of Lafarge Pakistan stated in the company’s first-quarter report that the company’s overall financial performance saw progress. Higher prices on the backdrop of a substantial increase in fuel costs and general inflation, contributed towards net turnover of PKR1.68bn. However by effectively managing its fuel inventory Lafarge was able to avoid heavy cost increases during the current quarter. The company continued its focus on cost optimisation which helped reduce overall operating overheads in comparison to the first quarter of 2010.

The company sold 399,000t during the quarter of which it exported 104,000t and sold 295,000t in the local market.
Published under Cement News