Saturday, February 22, 2020

FCCL earnings up by 24 percent YoY

Featured

US official: Corona’s outbreak will not change China’s commitment to buy US goods

A senior US Treasury official said on Thursday that the US government expects China to fulfill its commitment to...

China: Corona virus death toll rises to 2239, and 75,567 infections

China’s National Health Committee announced on Friday that it has received reports of 889 new confirmed cases of the...

A major reshuffle in the British Government

Several British government ministers have been fired in a drastic reshuffle by Prime Minister Boris Johnson. The list includes...
Zubair Yaqoob
Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at wnobserver.com He can be reached at: [email protected]

Fauji Cement Company Limited (FCCL) announced its 2QFY19 financial result, posting a profit after tax (PAT) of PKR 1,023mn (EPS: PKR 0.74), up by 24% YoY as compared to a bottom-line of PKR 824mn (EPS: PKR 0.60) during SPLY. Alongside this, the company announced a dividend of PKR 0.75/share.

FCCL’s topline witnessed a dip of 7% YoY to PKR 5.1bn during 2QFY19 amid 15% decline in total offtake (0.77mn tons vis-à-vis 0.90mn tons), with drop in local offtake of 11% to 0.71mn tons.

Gross margins of the company widened by ~6ppts in 2QFY19 to 32% (2QFY18: 26%) given operationalisation of Line-II throughout the quarter vs. 2QFY18, tagged with higher retention prices.

Distribution costs exhibited a dip of 36% YoY to PKR 51mn amid 44% cut in exports.

The company booked effective taxation during the period under review at 29% vs. 28% in 2QFY18.

Zubair Yaqoob
Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at wnobserver.com He can be reached at: [email protected]

Latest News

Trump adviser Roger Stone sentenced to 3 years in prison for lying

A federal judge issued a ruling on Thursday against Roger Stone, a longtime adviser to US President Donald Trump,...

US official: Corona’s outbreak will not change China’s commitment to buy US goods

A senior US Treasury official said on Thursday that the US government expects China to fulfill its commitment to purchase more US goods under...

Voting begins in Iran’s parliamentary elections

The Iranians began voting on Friday in a parliamentary election that is unlikely to change Tehran's troubled relations with the United States, after excluding...

Austrian Parliament: There is no place for ISIS operatives in the country

Herbert Kickel, head of the Parliamentary Bloc of the Freedom Party (the third largest Austrian party), confirmed that anyone who joined the terrorist group...

Reports of Russian intervention supporting Trump in the US 2020 elections

Informed sources reported that Shelby Pearson, the chief election security official in US intelligence, had warned lawmakers that Russian intelligence was taking steps to...

Related News