Maple Leaf Cement incurs losses in 1QFY19

Maple Leaf Cement Factory Ltd (MLCF) of Pakistan has announced its consolidated financial results for the 1QFY19, ended 30 September 2019. It incurred a net loss of PKR982m (US$6.29m) compared to the profit of PKR586m earned in the same quarter last year, despite an increase in sales, which rose to PKR7.14bn from PKR5.65bn during the period.

Increased finance costs, which expanded to PKR799m from PK224m over the period, was the main reason cited for the loss in profit.

MLCF incurred a lower distribution cost and administrative expenses to PKR173m against PKR195m and PKR186m against PKR190m respectively in the same period last year.