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News Fauji Cement's sales and profit rise in first quarter of 2023 financial year

Fauji Cement's sales and profit rise in first quarter of 2023 financial year

Written by Global Cement staff 24 October 2022
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Pakistan: Fauji Cement has recorded first-quarter sales of US$67.2m in its 2023 financial year, up by 27% year-on-year from US$52.9m during the first quarter of the previous financial year. The producer's cost of sales was US$47.9m, up by 29% from US$37.3m, and it recorded a profit for the period of US$10.6m, up by 10% from US$9.62m.

Fauji Cement is currently undergoing a transition into the third largest cement producer in Pakistan, through a US$122m 2.05Mt/yr expansion to its Nizampur, Khyber Pakhtunkhwa, cement plant and a US$148m 2.05Mt/yr expansion to its Dera Ghazi Khan cement plant. Together, Fauji Cement will fund the projects through US$171m-worth of debt, US$54.9m-worth of internal cash generation and US$45.7m-worth of equity.

Last modified on 26 October 2022
Published in Global Cement News
Tagged under
  • Pakistan
  • Fauji Cement
  • Results
  • costs
  • Askari Cement
  • Upgrade
  • Expansion
  • Investment
  • Loan
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