ISLAMABAD, March 1: The after-tax profit of Bestway Cement has increased by 62 per cent to Rs659 million during the first half of the current fiscal year. According to the half-year results announced on Wednesday sales of cement increased by 27 per cent to Rs2.1 billion despite a five per cent decline in production due to the closing of the plant for up-gradation.

As a result of enhanced operating efficiency, the company’s operating profits increased by 52 per cent to Rs992 million. Profit before taxation for the half year increased by 31 per cent to Rs758 million, says a press release.

However, as a consequence of the acquisition of Mustehkam Cement, the company’s financial charges increased by 398 per cent to Rs203 million. The company is expanding operations with a second plant of 1.8 million tons per annum capacity in Chakwal, which is in advanced stage.