Pakistan cement producers record falling sales

Pakistan’s Fecto Cement Ltd has announced a 42 per cent YoY fall in profit for the FY18 ended 30 June, declining to PKR441m (US$3.56m) from PKR760m. Net sales of the company decreased 4.5 per cent to PKR4.9bn, compared with PKR5.13bn from the year-ago period.  The company has a cement production capacity of 0.819Mta from its facility in Sangjani, Punjab.

Elsewhere, Pioneer Cement Ltd has recorded a 44 per cent YoY drop in earnings to PKR1.64bn for the FY18. Net sales were down five per cent to PKR10.12bn, largely due to a discontinuation of clinker sales to Fauji Cement Co Ltd and lower retention prices. Meanwhile, the company is continuing the construction of its 8000tpd plant in Chenki, Khushab district, to meet the planned completion date in FY19.