Bestway Cement Limited (BWCL) today announced financial results for the nine months period ending 31 March, 2018 reporting Gross Turnover earned worth Rs. 58.570 billion. Furthermore, the company’s Gross Profit after subtracting Cost of Goods sold during the outgoing nine months fell by 16.33 percent to reach 25.787 billion.
On the expenses front, Bestway Cement reported a 2.17 percent decline in Selling and Distribution Expenses, 2.68 percent increase in Administrative Expenses while reporting a 33.23 percent decrease in Net Finance Costs the outgoing nine months.
Bestway Cement reported profit after taxation at Rs. 8.711 billion down by 17.57 percent from 10.568 billion last year translating into an EPS of Rs. 14.61 vs. an EPS of Rs 17.72 during the nine months ending March, 2017.
|
Unconsolidated Profit and Loss Account – For the Nine Months Ended, March 30th 2018 |
|||
|---|---|---|---|
|
Key Financials |
March, 2018 |
March, 2017 |
% Change |
|
Amounts in PKR’ 000 |
|||
|
Gross Turnover |
58,570,007 |
54,078,505 |
8.31% |
|
Less: Rebates and discounts |
1,679,127 |
1,348,622 |
24.51% |
|
Less: Sales tax and excise duty |
16,641,566 |
13,596,868 |
22.39% |
|
Revenue |
40,249,314 |
39,133,015 |
2.85% |
|
Cost of Sales |
25,787,240 |
21,847,526 |
18.03% |
|
Gross Profit |
14,462,074 |
17,285,489 |
-16.33% |
|
Other Income |
115,009 |
51,499 |
123.32% |
|
Selling and Distribution Expenses |
1,149,301 |
1,174,828 |
-2.17% |
|
Administrative Expenses |
1,730,464 |
1,685,265 |
2.68% |
|
Other Expenses |
781,443 |
952,318 |
-17.94% |
|
Operating Profit |
10,915,875 |
13,524,577 |
-19.29% |
|
Net Finance Costs |
437,559 |
655,294 |
-33.23% |
|
Profit before Tax |
11,698,281 |
14,463,408 |
-19.12% |
|
Income Tax Expenses |
2,986,683 |
3,895,064 |
-23.32% |
|
Profit after Tax |
8,711,598 |
10,568,344 |
-17.57% |
|
EPS – Basic and diluted |
14.61 |
17.72 |
-17.55% |
Company release on Earnings Report can be accessed here.
