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News Pioneer Cement blames poor profits on competition and raw material costs

Pioneer Cement blames poor profits on competition and raw material costs

Written by Global Cement staff 12 October 2018
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Pakistan: Aly Khan, the chairman of Pioneer Cement, has blamed falling profits on competition on prices and rising costs of raw materials. The company’s profit after taxation nearly halved year-on-year to US$16.9m in the year that ended on 30 June 2018 to US$31.1m in the same period in 2017. Its sales revenue fell slightly to US$111m due to a steep decline in clinker sales. Despite this, cement sales volumes grew by 9% to 1.5Mt from 1.4Mt.

Last modified on 17 October 2018
Published in Global Cement News
Tagged under
  • Pakistan
  • Pioneer Cement
  • Results
  • GCW375
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