BCL announces financial results

Islamabad—The Board of Directors at Bestway Cement Limited (BCL) announced financial results for half-year from July to December, 2015.
Bestway’s net turnover on a consolidated basis soared by 45.5% from Rs 14.5 billion to Rs 21.1 billion. This was largely due to acquisition of Pakcem Limited, increase in domestic demand and stable retention prices during the period. Gross margin of Rs8.9 billion grew by more than 61.9% over the same period last year. Profit before tax for the period amounted to Rs 7.6 billion, showing an increase of 37% as compared to Rs 5.6 billion during the corresponding period ended 31December, 2014. The Company’s consolidated profit after tax also registered a growth of 47% to reach Rs 5.7 billion in the half-year against Rs 3.9 billion from the corresponding period of FY0214-15.
On a consolidated basis, domestic sales volume increased by 47% from 2.1 million tones to 3.1 million tonnes. Overall, dispatches by the industry increased by 6.3% during the reporting period to 18.2 million tones from 17.1tonnes, while exports saw a decline of 26% from 4.1 million tonnes to 3.0 million tones in this period. Despite fierce competition, Bestway was able to maintain its market share in the north zone and retained its position as the largest exporter of cement to Afghanistan and India.—PR

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