Fauji Cement Company (FCCL) has announced FY14 profit of Rs 2.6 billion (EPS of Rs 1.8) as against Rs 2.1 billion (EPS Rs 1.4) in last year, up 25 per cent. According to Topline Securities, the financial results of the FCCL are also accompanied by final cash dividend of Rs 0.75 per share, taking total dividend to Rs 1.5 per share for the year.
In FY14, the FCCL recorded the revenue of Rs 17.5 billion as against Rs 16.0 billion last year which is up 9.8 per cent. Increase in retention prices by approx. 13 per cent resulted into 3pps surge in gross margins to 35 per cent in FY14. Some impact on profit in FY14 came from higher effective tax rate which increased to 42 per cent from 32 per cent in FY13.
In 4QFY14, the company posted the profit of Rs 631 million (EPS Rs 0.5) as against Rs 527 million (EPS Rs 0.4) in similar quarter last year, up 20 per cent. Sales during the quarter under review increased by 15.4 per cent to Rs 5.0 billion while gross margins stood at 36 per cent from 30 per cent in 4QFY13.