Thatta Cement reports 22% drop in net sales for FY17-18

Pakistan’s Thatta Cement has recorded a 22.3 per cent YoY fall in net sales to PKR2.84bn (US$23.03m) for the FY17-18 period, ended 30 June 2018. Operating profit decreased 38.4 per cent to PKR563.2m (FY16-17: PKR913.69m), while net profit slipped 38.7 per cent to PKR356.86m (FY16-17: PKR581.99m).

Consolidated net sales saw a minor decline of 0.8 per cent to PKR3.79bn, compared with PKR3.82bn of the FY16-17. Consolidated operating profit was down 10.5 per cent YoY to PKR987.63m. However, net profit increased 3.2 per cent to PKR741.9m in the period.