AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Lahore: Fast Cables Ltd (FCL) reported a decline in revenue and profitability for the fiscal year 2025, attributing the downturn to decreased domestic demand, slower public projects, and increased competition across its market segments. In a briefing for analysts, the company outlined its financial results and future outlook, revealing a challenging business environment.
FCL’s revenue for FY25 stood at PkR31.9 billion, marking an 11% decrease from the previous year. The company’s net profit also fell significantly, reaching PkR1.3 billion, which translates to earnings per share of PkR2.03, representing a 33% year-on-year drop.
The company experienced a compression in gross margins, which decreased to 16.9% from 18.7% in FY24. This decline was attributed to weaker pricing power and the volatility of commodity prices, particularly copper and aluminum, which saw a rise of approximately 10% over the year.
Established in 1985, Fast Cables Ltd operates over 6,000 cable stock-keeping units and maintains a nationwide network of more than 350 dealers. The company is recognized for its adherence to various global certification systems and operates two continuous vulcanization (CCV) lines, in addition to aluminum and alloy manufacturing facilities.
As FCL navigates the current economic landscape, the company is focusing on strategies to enhance its market position and address the challenges posed by fluctuating commodity prices and competitive market dynamics.