Flying Cement Co reports 11% rise in post-tax profit

Pakistan’s Flying Cement Co Ltd reported a 0.24 per cent fall in its full-year sales to PKR2.47bn (US$23.4m) in 2017 from PKR2.476bn in 2016.

However, the company’s operating profit (before finance costs) rose from PKR119.8bn to PKR142.6bn over the same period after PKR6.1m in distribution costs, PKR39.5m in administrative expenses and PRK15.2m in other expenses were deducted. Finance costs saw a hike of PKR8.1m from PKR2.9m.

The company received PKR64.4m in “other income” but saw a PKR37.6m tax charge. As a result, profit after tax noted a 10.7 per cent increase from PKR145.7bn in 2016 to PKR161.3bn.