February 11, 2026 (MLN): Pioneer Cement Limited (PSX: PIOC) reported a profit after tax of Rs2.87bn for the half year ended December 31, 2025, marked a modest 3.65% YoY increase compared to Rs2.77bn in HY25.

Earnings per share (EPS) rose to Rs12.65, up from Rs12.21 in the same period last year, showing a 3.60% improvement.

Net revenue from contracts surged 11.24% YoY to Rs18.68bn, demonstrating resilient demand momentum despite macroeconomic headwinds.

However, cost of sales rose sharply by 22.98% to Rs13.13bn, significantly outpacing revenue growth and putting pressure on margins.

As a result, gross profit declined 9.29% YoY to Rs5.54bn, with gross margin compression reflecting higher input costs and unfavorable cost dynamics in the cement manufacturing business.

On the expense side, the company demonstrated strong cost discipline. Distribution, administrative, and other expenses decreased substantially by 26.99% YoY to Rs582.91m, reflecting improved operational efficiency and tighter expense management.

Operating profit declined 6.63% to Rs4.96bn due to the combined impact of lower gross margins partially offset by reduced operating expenses.

Net finance costs and other income showed remarkable improvement, with net finance costs declining 82.29% to Rs133.66m from Rs754.77m in the prior year, providing significant support to bottom-line profitability through improved treasury management and reduced debt servicing burden.

Profit before taxation improved 5.90% YoY to Rs4.83bn, demonstrating resilience despite gross margin pressures.

Taxation increased 9.39% to Rs1.95bn, showing higher taxable income and bringing the effective tax rate to approximately 40.5%.

Profit after tax reached Rs2.87bn for HY26, representing a 3.65% YoY increase.

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