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KARACHI: Fauji Cement Company Ltd (FCCL) earned a profit of Rs2.61 billion (earnings per share at Rs1.89) for the financial year ended June 30.
This represented a decline of 51 per cent year-on-year from Rs5.37bn and EPS at Rs4.03 the previous year.
The board recommended a cash dividend at Rs0.90 per share (9pc).
Decline in earnings was attributed to the silo incident, which damaged FCCL’s clinker line. Resultantly, FCCL had to purchase clinker, which shrank margins. The company recorded growth of 2pc YoY in net sales to Rs20.4bn, from Rs20.0bn.
Published in Dawn, September 21st, 2017
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Sep 21, 2017 11:14am
Dont worry this cement plant will close down in 3 years time. Chinese owned plants are coming.
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