External broker reports(aggregated public sources), Topline Securities

Topline Securities

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External broker reports(aggregated public sources)

Thematic (Sector/Industry)

Pakistan Construction materials / Thematic (Sector/Industry)

<ul><li>Topline Cement Universe is expected to post core profitability growth of 10% YoY to Rs12.6bn in 2QFY24 due to improvement in gross margin and higher other income.</li><li>Net sales are anticipated to grow by 5% YoY to Rs93.5bn in 2QFY24 despite 12% YoY decline in local cement sales, thanks to 16% YoY increase in average local cement prices.</li><li>Decline in cement dispatches in 2QFY24 is due to (1) imposition of axle load, (2) high cost of construction, and (3) high base effect of last year when cement dispatches began rising after floods.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Topline Cement Universe is expected to post core profitability growth of 10% YoY to Rs12.6bn in 2QFY24 due to improvement in gross margin and higher other income.Net sales are anticipated to grow by 5% YoY to Rs93.5bn in 2QFY24 despite 12% YoY decline in local cement sales, thanks to 16% YoY increase in average local cement prices.Decline in cement dispatches in 2QFY24 is due to (1) imposition of axle load, (2) high cost of construction, and (3) high base effect of last year when cement dispatches began rising after floods.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Pakistan Cement: Profitability Likely to Increase 10% YoY in 2QFY24