Power Cement Limited Announces Board Recommendations and AGM Date for 2023.

Karachi -- Power Cement Limited, a prominent player in the Pakistani cement industry, has made significant announcements following its recent Board of Directors meeting held via video link on September 28, 2023. The key recommendations include no cash dividend, bonus shares, or right shares, and no other entitlement or corporate action. Additionally, there is no other price-sensitive information to disclose at this time.

The company also enclosed its financial results for the year ended June 30, 2023, labeled as "Annexure-A." These results reflect the following financial figures (in Rupees in '000):

Revenue from contracts with customers: 28,939,096

Cost of sales: (22,071,255)

Gross profit: 6,867,841

Selling and distribution expenses: (1,895,898)

Administrative expenses: (367,107)

Other (loss) / income: (881,716)

Reversal allowance on trade receivables: 8,978

Profit from operations: 3,732,098

Finance income: 17,778

Finance costs: (3,830,787)

Loss before taxation: (80,911)

Taxation: 249,904

Profit (loss) after taxation: 168,993

Furthermore, the financial statement includes details of other comprehensive income (loss), which consists of changes in fair value of cash flow hedges and actuarial losses on remeasurement of defined benefit obligations. The total comprehensive income (loss) for the year amounted to 284,572 Rupees.

In addition, Power Cement Limited has announced that its Annual General...