Karachi, August 27, 2024 – Fauji Cement Company Limited (FCCL) has announced a remarkable financial milestone, achieving a record Profit After Tax (PAT) of PKR 8.2 billion for the fiscal year 2024. This marks a significant increase from the PKR 7.4 billion PAT reported in 2023, setting a new high for the company.
In a move that took the market by surprise, Fauji Cement declared an unexpected dividend of PKR 1.0 per share. This announcement spurred a 4.97% increase in its share price at the Pakistan Stock Exchange (PSX), reflecting investor confidence and the positive outlook for the company’s performance.
Despite the record profit, Fauji Cement faced a PKR 1.8 billion deferred tax charge, attributed to recent changes in tax regulations. Nevertheless, the company demonstrated robust financial health and operational efficiency.
The company’s gross profit margin improved to 32% in 2024, bolstered by higher sales prices, increased export volumes, and effective cost optimization strategies. This performance underscores Fauji Cement’s strong market position and its ability to navigate regulatory and economic challenges effectively.
Fauji Cement’s impressive results reflect a resilient business model and strategic foresight, promising continued growth and stability in the coming years.
