Sunday, March 29, 2020

FCCL earnings up by 24 percent YoY

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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]

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