Dewan Cement Posts Rs. 1.3 Billion Profit for Fiscal Year 2017

Dewan Cement Limited (DCL) posted a profit after tax of Rs 1.3 billion for the fiscal year ended June 30, 17, down by 12.94% compared with Rs 1.49 billion in the same period of the previous year, according to a company notice sent to the Pakistan Stock Exchange (PSX).

Earnings per share (EPS) decreased to Rs 2.71 from an EPS of Rs 3.10 in the period under review.

Dewan Cement’s share price came down to Rs 17.10, down 1.84% from its last day’s closing price. The KSE-100 index is currently trading at 42,349, down 53 points or 0.13% on Monday.

Cost of sales increased to 0.88% as compared last year’s cost. The gross profit for the year remained almost flat as compared to last year’s gross profit which decreased to 4.26% this year.

No Cash dividend, Bonus shares and right shares were announced by the company.

DCL, a Yousuf Dewan company, has fallen upon bad times. Dewan Cement itself emerged on the scene through the acquisition of Pakland Cement Limited and Saadi Cement Limited, which have a combined capacity of more than 2.9 million tonnes per annum.

The plant of what was formerly Pakland is located in district Malir, Karachi, with a production capacity of 5,700TPD while the Saadi Cement plant in Kamilpur, near Hattar in Khyber Pakhtunkhwa, has a capacity to produce 3,800TPD.

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