Cherat Cement records PKR1.02bn net profit in 1HFY18-19

Cherat Cement Company Ltd (CCCL) has announced its financial results for the half year ended 31 December 2018. CCCL declared a net profit of PKR1.02bn (US$7.29m), down by 23.9 per cent YoY, as compared to PKR 1.349bn earned in the same period last year.

CCCL’s Executive Director and Company Secretary, Abid Vazir, said the company’s net sales during the 1HFY18-19 fell to PKR7.032bn from PKR 7.585bn during the first six months of FY17-18. It incurred a higher distribution cost of PKR191m against PKR165.22m in the 1HFY17-18. Administrative expenses also increased and stood at PKR147.17m, compared to PKR119.77m incurred in the year-ago period.

The company has a production capacity of 2.42Mta of cement in Nowshera, Kyber Pakhtunkhwa province. As reported earlier in January 2019, CCCL has completed the process of setting up its third production line. With this expansion, the production capacity of the company has been increased to approximately 4.5Mta.