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DGKC results today



LAHORE - The DG Khan Cement Company Ltd (DGKC) is scheduled to announce its operating results for FY10 on Friday (today). 

Industry experts have forecast that the company will post Profit After Tax (PAT) of Rs350.67m (EPS PRs0.96), showing decline of 33.28 per cent against last year when company recorded PAT of PRs525.58m and EPS PRs1.44. They do not expect company will declare any dividend this year.
Despite the expectations for growth of around 25 per cent in dispatches, they anticipate top line to decline by 10.21 per cent Y-o-Y basis. This anticipation of decline in revenue is because of the prevailing lower retention prices most of time during the year. 
Nevertheless, increase in cement prices from PRs265 to PRs310 during the 4Q/FY10 bode well for the company enabling top line to gain some weight.
However, it is expected cost of sales to surge by 8.56 per cent to PRs13,415.79m mainly due to increased energy costs. We expect increase in cost of sale would restrict gross margin at 17 per cent compare to 31 per cent last year.
A cement analyst, Sarfraz Abbasi observed that DGKC would record Administrative and Selling expenses collectively at Rs860.78m as against Rs2,013.37m during the same period of corresponding year, showing a decline of 57.25 per cent. He also anticipate, financial charges to decline by 23.82 per cent to PRs1,985.39m as against PRs2,606.35m during FY09 mainly due to lower rate.


 Published in the Nation,  September 17, 2010

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Location: Lahore, Pakistan

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