Karachi: Pioneer Cement Ltd. (PIOC) has announced a significant increase in its financial performance for the fourth quarter of fiscal year 2026, with earnings reaching PkR2.2 billion, marking a 95% increase from PkR1.1 billion in the same period last year. The earnings per share rose to PkR9.68 from PkR5.0 in the previous year, driven by increased offtakes, changes in deferred tax liabilities, and reduced finance costs.

According to AKD Securities Limited, the company's revenue rose by 14% year-on-year to PkR9.9 billion from PkR8.6 billion. This was primarily due to a 7% increase in cement offtakes, amounting to 0.6 million tons, alongside a similar percentage increase in retention prices. The gross margins also saw an improvement, rising to 31.7% from 26.9% in the same period last year.

The reduction in finance costs was notable, falling by 73% to PkR75 million from PkR282 million last year, a result of a significant reduction in average outstanding debt. Despite these positive trends, earnings were slightly below expectations due to higher than anticipated taxation.