Topline Securities, a stock brokerage company in Pakistan, reported that 14 out of 19 listed cement companies posted 15% year-on-year (y-o-y) growth in net profit to PKR 22 billion (€194.87 million/US$215.90 million) in the six months to 31 December 2014. The 14 cement producers account for 94% of market capitalisation in the cement sector and cumulative net profit of cement companies listed in the fourth-quarter of 2014 went up by 41% y-o-y to PKR 12.7 billion due to strong domestic demand, lower input cos
Topline Securities, a stock brokerage company in Pakistan, reported that 14 out of 19 listed cement companies posted 15% year-on-year (y-o-y) growth in net profit to PKR 22 billion (€194.87 million/US$215.90 million) in the six months to 31 December 2014.
The 14 cement producers account for 94% of market capitalisation in the cement sector and cumulative net profit of cement companies listed in the fourth-quarter of 2014 went up by 41% y-o-y to PKR 12.7 billion due to strong domestic demand, lower input costs, financial charges as well as tax rate.
The best performing cement companies during the quarter include Maple Leaf Cement (MLCF); Fauji Cement (FCCL); DG Khan Cement (DGKC); Dewan Cement (DCL), and Pioneer Cement (PIOC) that reported profit growth of 63%, 77%, 93%, 99% and 150% y-o-y respectively.
Exports of cement during the quarter dropped by 2.6% y-o-y to 2 million tonnes due lower sales of cement to Afghanistan.
