Kohat Cement profits fall by 25% in 1HFY17-18

Kohat Cement profits fall by 25% in 1HFY17-18
27 February 2018

Kohat Cement Co Ltd (KCCL) has announced a fall of 24.9 per cent in profit YoY for the half year ended 31 December 2017. KCCL reported a profit after tax of PKR1.644bn (US$4.6m) compared to PKR2.19bn (US$6m), earned in corresponding period last year.
According to a notification of company to Pakistan Stock Exchange (PSX) on 26 February, its sales dropped by four per cent to PKR6.867bn from PKR7.164bn during this period. KCCL incurred a distribution cost of PKR68m against PKR71m in 1HFY16-17. The administrative expenses stood at PKR101m compared to PKR82m incurred in corresponding period of last year.
KCCL sold 1.069Mt of cement during 1HFY 2017-18. No dividend was announced by the Board of Directors of Company in their meeting held on 23 February 2018.
Ongoing projects
KCCL is erecting a new 105tph cement mill, which is expected to start commercial production in April 2018. The company also has a brownfield expansion project of 7800tpd at its Kohat plant where current cement capacity is 2.68Mta.

Published under Cement News