Pakistan Cement: Higher profitability led by better retention price in 2QFY23 – By Insight Research

<p></p><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">ISL cement universe topline witnessed an increase of ~23% in 2QFY23, taking 1HFY23 sales to PKR167.8bn, up by 22.4%. The higher revenue is mainly attributable to increase in retention price by 56%. On volumetric front, local cement dispatches witnessed a decline of ~17%. While, exports plunged by ~49% to clocked in at 21.7mn tons. The decline in sales is attributable to burgeoning cost of construction, higher interest rates, low PSDP utilization and political uncertainty, which was further exuberated by devastating flood in the country. However, despite the decline in offtakes, revenue witnessed an increase amid higher retention prices which offset the impact of lower offtakes during the period.</span></li></ul><ul><li><span style="font-family...