Dewan Cement reports 1% profit rise in 1HFY17-18
Dewan Cement Ltd (DCL) has announced its financial results for the half year ended 31 December 2017. It reported a profit after tax of PKR550m (US$4.96m), compared to PKR476m (US$4.29m) in the corresponding period last year – representing a growth of 15.5 per cent YoY.
According to a notification of company to Pakistan Stock Exchange (PSX), the company's sales increased to PKR6.45bn from PKR6.19bn during this period. Distribution costs of PKR106m were incurred against PKR96m in 6MFY16. Administrative expenses stood at PKR294m compared to PKR325m a year earlier.
No dividend was announced by the company's Board of Directors in its meeting held on 23 February 2018.
The management of the company is negotiating with a local firm to sell its shares. Dewan Cement has officially informed PSX earlier this month about negotiations with Karachi-based Mega Conglomerate Pvt Ltd.
