Bestway Cement FY1Q19 earnings fall

Bestway Cement FY1Q19 earnings fall
25 October 2018

Bestway Cement Lts (BCL) announced its financial results for 1QFY19 on 22 October. It posted earnings of PKR2.25bn (US$16.9m) during this period, down by 24.6 per cent YoY. According to a filing of company to Pakistan Stock Exchange (PSX), its net sales also fell by 6.71 per cent to PKR 17.4bn from PKR18.66bn during this period, on YoY.

Domestic cement companies are feeling the effects of the rise in input costs, stemming from higher global coal prices and the domestic impact of the rupee devaluation.
The company incurred higher distribution cost of PKR407m but lower administrative expenses of PKR194m compared to PKR314m and PKR559m, respectively in1QFY18. The company's four plants have a combined capacity of 9.85Mta.

Published under Cement News