Dewan Cement reports fall in profit 1QFY19

Pakistan's Dewan Cement Ltd (DCL) on 25 October announced that it earned PKR184m (US$1.37m) in 1QFY19, down by 24.8 per cent YoY, as compared to PKR245m reported in the same period last year.

According to DCL's notification to Pakistan Stock Exchange (PSX), company sales during the quarter declined by 2.3 per cent YoY to PKR2.91bn from PKR2.98bn of same period last year. The gross profits during the period dropped substantially by 23.41 per cent YoY.

The company incurred higher distribution cost of PKR4.5m and lower administrative expenses of PKR106m compared to PKR4.3m and PKR107m, respectively in corresponding period last year.

The company's two plants have combined capacity of 2.89Mta.