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WEEKLY
SECTIONS |
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| DGKC gains H1 profit of Rs127m |
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Saturday, February 21, 2009
By our correspondent
KARACHI: DG Khan Cement (DGKC) has announced its results for the first-half of financial year 2009 (1HFY09). The company booked profits of Rs127 million (earnings per share of Rs0.5) versus Rs330 million (EPS of Rs1.3) in 1HFY08, depicting a decline of 61 per cent.
Despite a jump of 79 per cent in sales revenue on account of higher local cement prices and cement exports, profits remained under pressure largely due to a significant jump in administrative and financial expenses.
While gross margins increased by 1,440 bps, a 573 per cent jump in administrative expenses affected the bottom line. Moreover, finance cost also rose 86 per cent to Rs1.5 billion due to a combination of higher interest rates and increase in short-term borrowings.
Though the company posted a loss before taxation of Rs246 million, tax reversal by the company resulted in profit after taxation of Rs127 million. The company did not announce any payout.
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ISSN 1563-9479 
