August 27, 2019 (MLN): Fauji Cement Company Limited has declared net income of Rs. 2.8 billion (EPS: Rs. 2.05) for the year ended June 30, 2019, which is 17% lower than the income recorded in last year.
According to the financial report issued by the company, the sales revenue exhibited slight decline of 1.7%, mainly owing to decline in volumetric sales. On the other hand, the cost of sales slipped by 4% in spite of higher input costs. This translated into a growth in gross profits by 5%.
Despite lower volumetric sales, the distribution and administrative expenses of the company grew by 6% and 8% respectively.
Nonetheless, the biggest blow to the company was given by income tax expense, as it jumped by 137%.
The company also announced a final cash dividend for the year at Rs. 0.75 per share of Rs.10/- each i.e. 7.5 %. This is in addition to interim cash dividend already paid at Rs. 0.75 per share of Rs. 10 each, i.e. 7.5%.
Profit and loss account for the year ended June 30, 2019 (Rupees'000)
