Maple Leaf Cement records consolidated profit of PKR2.757bn

In 1HFY22 Maple Leaf Cement’s consolidated profit stood at PKR2.757bn (US$15.27m) as against PKR1.625bn for the corresponding period last year, representing an increase of 70 per cent.

A total sales volume of 2.406Mt was achieved in the 1HFY22, depicting a 4.5 per cent decrease over 2.52Mt sold during the corresponding period last year.

Domestic sales volume was 2.336Mt, defining almost the same level of demand, with slight pressure on cement consumption in the local market compared to the corresponding period last year.

The company’s export volumes decreased by almost 52.6 per cent to reach 70,020t from 147,707t in the corresponding period. This decline is mainly attributable to the Afghanistan market due to the slow economic activity post-American departure from the country and low margins.

Further, cement dispatches to the rest of the world are still not feasible due to high production costs in Pakistan compared to the global market and increased shipping costs.