Karachi October 3 2022: The Board of Directors of the Flying Cement Company Limited in their meeting held today has, amongst other issues, discussed the progress of expansion of Line-2.
Company reported 6.5 times jump in profitability in fiscal year 2022, which runs from July to June.
The Board was apprised that after due diligence and Proper evaluation the management of the Company decided to further enhance Capacity of Line-2 from 7,700 tons per day to 9,000 tons per day of Clinker by virtue of various modifications in the Plant and Machinery.
By the Grace of Almighty Allah now the COD of lane -2 with enhanced Production Capacity of 9,000 tons per day is expected to commence operations by end 3rd quarter of 2023.
This expansion will increases the current company production capacity of 686,000 tons of clinker to 3,386,000 tons annually.
The company recorded a significant revenue growth and the Gross sales of the company as compared to the corresponding year increased from Rs 4,379 million to Rs7,145 million showing an increase of 63%, whereas the Net sales of the company increased from Rs 3,205 million to Rs 5,336 million, showing an increase of 66% over the year owing to continued better operational and financial management measures taken by the company.
As a result company recorded profitability of Rs 924 million this year as compare to Rs 143 million last year.
About the company
Flying Cement Company Limited was incorporated in Pakistan as a Public Limited Company on December 24,1992 under the Companies Ordinance,1984 (Now the companies Act, 2017).The principal activities of the company are to manufacturing, marketing and sale of cement.
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