Attock Cement Pakistan Ltd. profits fall 16.34% to Rs. 1.152 billion

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By MG News | January 23, 2018 at 12:08 PM GMT+05:00

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Attock Cement Pakistan Limited (ACPL) posted results today in line with industry expectations. Company’s 1st half year profit after taxation for fiscal year 2018 clocked in at Rs. 1.152 billion against expectations of Rs. 1.149 billion by analysts.

Company’s quarterly profits remained within expectations as well, clocking in at Rs. 547.973 million against expectations of Rs. 544 million with a decline of 32% year on year.

The company’s EPS was in line of the expectations as well, clocking in at Rs. 10.07 vs. analyst estimates of Rs. 10.04, declining by 16.29% from same period last year.

ACPL reported an increase of 4.72% in Net Sales, and an increase of 13.24% in cost of sales mainly due to the more than 10% rise in international coal prices. Moreover, stationary cement prices coupled with 20% higher average coal prices have resulted in shrinking of profits across the cement sector.

Earnings per share during the first half of year fiscal year 2018, clocked in at Rs. 10.07 against Rs. 12.03 same period last year.

Comparison of Key Financials

Unconsolidated Profit and Loss Account - For the Half Year Ended, December 31st 2017

Key Financials

2017

2016

% Change

 

Amounts in PKR ‘000

Net Sales

7,569,650

7,228,732

4.72%

Cost of Sales

4,964,507

4,384,082

13.24%

Gross Profit

2,605,143

2,844,650

-8.42%

Distribution Costs

485,923

526,112

-7.64%

Administrative Expenses

241,743

209,799

15.23%

Other Expenses

91,741

151,904

-39.61%

Other Income

27,602

103,936

-73.44%

Operating Profit

1,813,338

2,060,771

-12.01%

Finance Cost

78,291

16,442

376.16%

Profit before Taxation

1,735,047

2,044,329

-15.13%

Taxation

582,132

666,300

-12.63%

Profit after Taxation

1,152,915

1,378,029

-16.34%

Other Comprehensive Income

-

-

 

Total Comprehensive Income

1,152,915

1,378,029

-16.34%

EPS - Basic & Diluted

10.07

12.03

-16.29%

Company release on Earnings Report can be accessed here.

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