Bestway Cement Ltd. profits fall 17.54 percent to Rs. 8.711 billion

By MG News | April 23, 2018 at 11:52 AM GMT+05:00

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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.

Comparison of Key Financials
Unconsolidated Profit and Loss Account - For the Nine Months Ended, March 30^th 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.

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