Dewan Cement Ltd (DCL) of Pakistan has announced its financial results for the half year ended 31 December 2019. It incurred a net loss of PKR172m (US$1.15m) as compared to profit of PKR328m earned in the same period last year. The losses can be attributed to a drastic fall in net sales and a modest increase in distribution cost and administrative expenses.
The company’s sales also decreased by 37.1 per cent to PKR4.04bn from PKR6.42bn in the same period last year. DCL incurred a higher distribution cost and administrative expenses to PKR70m against PKR65m and PKR239m against PKR217m, respectively in the same period last year.