Century Paper reports 43% drop in half-year profit

February 13, 2025 (MLN): Century Paper & Board Mills Limited (PSX: CEPB) has reported a 43.38% decline in net profit, recording Rs200.6 million for the half-year ended December 31, 2024, compared to Rs354.2mn in the same period last year.

The company's turnover dropped by 10.31% to Rs19.8 billion, down from Rs22.08bn, primarily due to a 10.10% decrease in the cost of sales, which amounted to Rs18bn.

This decline contributed to a 12.33% drop in gross profit, which stood at Rs1.8bn, compared to Rs2.05bn in the previous period.

General and administrative expenses saw a 7.23% increase, while selling and distribution expenses rose 10.56% and 7.17%, respectively.

Despite a 52.61% jump in other income, operating profit declined by 13.15%, totaling Rs1.32bn.

Finance costs remained nearly stable, increasing 0.79% to Rs955.4mn.

However, profit before income tax and levies fell sharply by 35.90% to Rs372.2mn, while profit before income tax stood at Rs261.8mn, marking a 47.67% decline from Rs500.4mn last year.

The company's tax burden eased, with current tax decreasing 19.15% to Rs205.2mn, while deferred tax rose 41.07% to Rs151.8mn.

Earnings per share (EPS) for the period stood at Rs0.50, reflecting a 43.18% decrease from Rs0.88 recorded in the same period last year.

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