Fauji Cement's net profits rise 31 per cent in 4Q18

Fauji Cement's net profits rise 31 per cent in 4Q18
28 August 2018

Fauji Cement Company Ltd (FCCL) announced its financial results for the year ended 30 June 2018 on 27 August. Its net profits were up by 31 per cent YoY to PKR3.429bn (US$27.8m). This was possible due to a positive tax reversal in 4Q18 and rehabilitation of cement line II. FCCL recorded 10 per cent YoY growth in local and export dispatches, partly due to resumption of normal operations post rehabilitation.

FCCL net sales increased to PKR21.16bn from PKR20.42bn during this period. The company incurred a higher distribution cost of PKR275m against PKR166m in the same period last year.  The administrative expenses stood at PKR385m compared to PKR339m in 4Q17.

Meanwhile, FCCL has undertaken a massive tree plantation project around its 3.43Mta cement plant in the last 12 months. Approximately, 10,000 fruit and other trees were planted. While, almost the same number of trees were distributed to adjacent villages. This effort has made the environment around the plant both green and clean.

This year, FCCL made 14 August its Tree Plantation Day involving school children, locals and factory workers.

FCCL, headquartered in Rawalpindi, operates a cement plant at Jhang Bahtar, Tehsil Fateh Jang, District Attock in the province of Punjab. It operates two lines, one each from FLSmidth and thyssenkrupp industrial solutions.

Published under Cement News