Maple Leaf Cement profits fall in 1QFY19

Pakistan's Maple Leaf Cement Factory Ltd (MLCF) announced its financial results for 1QFY19 with consolidated earnings falling at PKR587m (US$4.4m), down by 45 per cent YoY, as compared to PKR1073m reported in the same period last year.
 
According to MLCF's notification to Pakistan Stock Exchange (PSX), company sales during the quarter declined by three per cent YoY to PKR5.65bn, likely due to a slowdown in dispatches as a consequence of a halt in development projects by the caretaker government during the period, an analyst observed.
 
The gross profits during the period dropped substantially by 23 per cent YoY, largely due to a rise in input costs stemming from elevated global coal prices and the impact of the Pakistani rupee devaluation.
 
The company incurred higher distribution costs of PKR382m and administrative expenses of PKR190m, compared to PKR266m and PKR152m, respectively in corresponding period of last year.

The company has a cement capacity of 3.37Mta in Daudkhel, Mianwali district, Punjab.