Bestway Cement profit falls 23% in FY19

Bestway Cement Ltd (BCL) has announced its financial results for the year ended 30 June 2019 on 8 August by declaring of net profit of PKR10.09bn (US$63m), amounting to a fall of 23.3 per cent YoY, as compared to PKR13.15bn in the same period last year.

The company's net sales during the reporting year increased by 2.5 per cent to PKR79bn from PKR77.11bn during the same period last year. It incurred a lower distribution cost of PKR1.33bn against PKR1.62bn in the same period last year. Administrative expenses also declined, to PKR711m from PKR2.06bn incurred in the same period last year.

BCL announced cash dividend of PKR3 per share ie 30 per cent. No bonus and right shares were issued.

The company has a production capacity of 1.22Mta at the Hattar plant, 3.6Mta at the Chakwal  works, 2.97Mt at Farooqia and 2.52Mta at Kalar Kahar.