Lafarge Pakistan swings to 3Q12 profit

Lafarge Pakistan swings to 3Q12 profit
31 October 2012

Lafarge Pakistan reported that it earned PKR268.52m in the third quarter of 2012 compared to a loss of PKR308.38m (US$3.2m) in the corresponding period of last year. The advance is attributed to rising cement prices and increased domestic demand.

Net sales rose to PKR2.22bn in 3Q12 from PKR1.914bn in 3Q11. It incurred distribution costs of PKR45.75m and administrative expenses of PKR136.44m compared to PKR81.89m and PKR119.55m in July-September, respectively. Financing costs fel to PKR220.33m from PKR292.74m a year earlier.

However, in a statement company secretary Wasim Ahmah Malik, said that no cash dividend, bonus or rights issue has been issued for the quarter ended 30 September 2012.

In terms of its performance for the first nine months of 2012, Lafarge Pakistan earned a profit of PKR67.74m compared to a loss of PKR328.44m in the first nine months of 2011. Distribution costs fell to PKR161.38m and administration expenses to PKR415.04m from PKR185.22m and PKR342.28m in Jan-Sept 2011, respectively. Financing costs, however, rose to PKR824.99m from PKR774.31m from a year earlier.

Lafarge Pakistan operates a 2.5Mta cement plant situated in the Kalar Kahar, District Chakwal in the province of Punjab.

Published under Cement News