Dewan Cement posts distinction of Rs268m, adult 61%
KARACHI: Dewan Cement Limited (DCL) posted a net distinction of Rs268 million in a three-month duration finished Sep 30, adult 61.4% compared to Rs166 million in a same duration final year, according to a association notice sent to a Pakistan Stock Exchange (PSX).
Earnings per share (EPS) augmenting from Rs0.35 to Rs0.55 in a duration underneath review. The company’s share cost sealed during Rs31.56, adult 2.3% from Rs30.86, on Monday.
“The proclamation remained in line with expectations of Rs0.54 for a quarter,” JS Research said.
Revenue of a association augmenting by 14% year-on-year to Rs2.942 billion (-18% quarter-on-quarter) especially on a behind of augmenting dispatches and augmenting prices post deception of augmenting sovereign dig avocation (FED) on concrete manufacturers.
Gross margins stayed unvaried during 19% compared to a same duration final year. “Subpar sum margins are especially due to reduction than fascinating appetite efficiencies of a company’s plant,” a news added.
Last month, a association sensitive shareholders that it has perceived a ask from a Chinese vital financier seeking accede for due attention of Dewan Cement, that might eventually lead to merger of shares in a company.
Dewan Cement has a prolongation ability of around 2.88 million tons per annum, forming 6.1% of a sum commissioned ability of 45.6 million tons of a concrete industry. It has dual production units including Pakland Cement and Saadi Cement.
Published in The Express Tribune, Nov 1st, 2016.
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Article source: http://tribune.com.pk/story/1216618/dewan-cement-posts-profit-rs268m-61/