Attock Cement’s yearly profits rise by 45%

09:16
August 15, 2018
MG

In a Board of Directors meeting conducted on August 15th 2018, Attock Cement Pakistan Limited reviewed their financial earnings for the year ended June 30th 2018.

As per the report released, as compared to the year ended June 30th 2017, ACPL's Revenue witnessed an increase of 14.6%, but due to more than double the increase in Cost of sales, which grew by 32%, Gross profits came down by around 12%.

Distribution cost increased by 29% and Administrative expenses increased by 27%, whereas Other income dropped by 74%, thereby bringing Profit from operations down by 24%

However, Attock cement reported an income tax credit worth Rs.1.3 billion during the period under review, thus the overall profit for the period increased by 45%.

Other than this, ACPL also reported earnings per share to be Rs.38.42 per share, demonstrating a rise of 45%.

Financial Results for the Year Ended June 30th 2018 ('000 Rupees)
	Jun-18	Jun-17	% Change
Revenue	16,884,411	14,735,172	14.59%
Cost of Sales	(11,697,583)	(8,842,960)	32.28%
Gross Profit	5,186,828	5,892,212	-11.97%
Distribution cost	(1,170,970)	(903,531)	29.60%
Administrative expenses	(533,111)	(419,378)	27.12%
Other expenses	(163,000)	(333,645)	-51.15%
Other income	60,804	236,632	-74.30%
Profit from operations	3,380,551	4,472,290	-24.41%
Finance cost	(251,172)	(28,369)	785.37%
Profit before income tax	3,129,379	4,443,921	-29.58%
Income tax credit/(expense)	1,270,405	(1,409,864)
Profit for the year	4,399,784	3,034,057	45.01%
Earnings per share – basic and diluted (Rupees)	38.42	26.49	45.04%

Posted on: 2018-08-15T14:16:00+05:00

22633

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1	PKR	278.20000	278.40000	278.40000	278.20000	01:03 PM
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3	GBP	1.24567	1.24571	1.24571	1.24567	08:50 AM
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10	AED	3.67220	3.67320	3.67320	3.67220	05:44 PM
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43	KES	132.50000	134.50000	134.50000	132.50000	08:37 AM
44	AMD	392.60000	392.60000	392.60000	392.60000	07:55 AM
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46	XAU	2,382.79000	2,383.07000	2,383.07000	2,382.79000	08:50 AM
47	XAG	28.32820	28.33880	28.33880	28.32820	08:50 AM
48	XPT	931.35000	932.85000	931.95000	931.35000	05:49 PM
49	XPD	1,002.75000	1,007.75000	1,007.25000	1,005.00510	05:49 PM
2,120	VES	36.25120	36.34220	36.34216	36.25125	08:00 PM
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