Pakistan's Maple Leaf Cement reported a 12% fall in net profit to PKR 2.80 billion (€21.11 million/US$27.28 million) in the 2013-14 financial year.
While revenue rose 9% to PKR 18.9 billion with retention prices growing 11%, gross margins slid 1 percentage point to 34%. Pretax profit was actually still up 14% to PKR 3.6 billion, but the company incurred a 17% alternate corporate tax. Positively, finance costs dropped 14% to PKR 3.6 billion.
