Fauji Cement announces 80% earnings growth

Pakistan’s Fauji Cement Co Ltd recorded 79 per cent YoY growth in its gross profit to PKR1.41bn (US$10.61m) for the 1QFY18-19 ended 30 September. Its earnings similarly advanced 80 per cent to PKR801m.

Net sales increased 11 per cent to PKR5.34bn, on the back of improved prices during the period, according to a statement to the stock exchange.

The improvements in profit have been attributed to a controlled cost structure following the commencement of operation of its second line after having to shut it down in May 2016 due to damage. Furthermore, the company aims to construct an additional plant to keep pace with the country’s cement industry with preparations already underway.