Despite the ongoing economic challenges, Pakistan’s top cement companies have reported double-digit profit growth in the second quarter of the current fiscal year.
The recent core performance of top cement companies has reflected resilience to the ongoing macro adjustments, bringing the sector back on the radar.
The sector reported 14% quarter-on-quarter profit growth in Oct-Dec 2022 on the back of higher sales as the first quarter (Jul-Sept) was badly hit by disastrous flooding. Earnings in the second quarter were higher by 42% year-on-year despite the increase in financing charges. Consequently, first-half earnings for cement companies showed an increase of 21 percent.
Attock cement, Fauji Cement, Lucky Cement, DG Khan Cement, Maple Leaf Cement, and Pioneer Cement registered a 23% rise in their topline in the second quarter of the current year, which took first-half sales to Rs 167.8 billion, up by 22.4%.
