Gharibwal Cement posts loss in 1HY19

Gharibwal Cement posts loss in 1HY19
25 February 2020


Gharibwal Cement Ltd (GWLC) of Pakistan has announced its financial results for the half year ended 31 December 2019. GWLC incurred a net loss of PKR245m (US$1.58m) as compared to a profit of PKR593m earned in the same period last year.

The drop was attributed to the increase in cost of sales, selling and distribution expenses as well as a higher finance cost in the July-December 2019 period.

The company sales also decreased by 6.2 per cent to PKR5.16bn from PKR5.51bn in the same period last year. GWLC incurred a lesser administrative expenses to PKR179m against PKR197m in the same period last year but noticed higher distribution expenses to PKR452m against PKR2m in the same period.

Published under Cement News