KARACHI: The strong local demand has decreased the input costs and cement manufacturing companies have shown 40 percent growth at the Karachi Stock Exchange (KSE) in their net earnings in the quarter ended December 31.
Other factors that helped companies post attractive earnings included decreased financial charges, increased other income, and lowered effective tax rate, said analyst Nabeel Khursheed at Topline Securities. “…cement manufacturers posted net margin of 24 percent, which is the highest in the last nine quarters,” he said.
The brokerage house studied profit and loss accounts of 14 companies which represented 94 percent market capitalisation of the sector at the bourse. There are total 19 listed cement manufacturers at the bourse.
The companies booked cumulative earning of Rs12.7 billion in the quarter as compared to Rs9 billion in the previous quarter ended September 30, Khursheed said.
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