<ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">Maple Leaf Cement Factory Ltd. (MLCF) announced its FY25
results, posting consolidated earnings of PKR 11.5bn (EPS: PKR 10.98), up 66%
y/y from PKR 6.9bn (EPS: PKR 6.51) in FY24. The result came exactly in line
with our expectations (HMFS est.: PKR 10.5), with earnings strength driven by
robust gross margins, sharply higher other income, and lower finance costs.</span></li></ul><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;"><strong>Revenue:</strong> PKR 68.7bn, up 3% y/y from PKR 66.45bn, supported
by improved pricing despite relatively stable offtakes.</span></li></ul><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;"><strong>Gross Margins:</strong> Increased to 37.1% from 33.8% SPLY,
refl...
