DG Khan Cement Co (DGKC) has announced its financial results for the half-year period ended 31 December 2019, reporting a 43 per cent fall in profit to PKR946m (US$6.1m). The major factor responsible for the decline was the increased cost of sales and taxation, despite little improvement in sales.
The company’s financial charges surged by 83 per cent YoY amid high interest rates. Net sales during the reporting year slightly increased by 5.7 per cent to PKR20.88bn from PKR19.76bn during the same period last year. The administrative expenses increased by PKR357m compared to PKR311m in the same period last year. It also incurred higher selling and distribution expenses of PKR653m against PKR1bn in the same period last year, due to a considerable increase in DGKC’s exports.