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

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 1^st 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 31^st 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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