CEPB reports 64% increase in yearly profits

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MG News | August 10, 2018 at 10:01 AM GMT+05:00

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MLN: Century Papers and Board Mills Limited discussed and approved their financial earnings for Year ended June 30th 2018, in a Board of directors meeting held on August 9th 2018.

According to the report issued to PSX, as compared to the Year ended on June 30th 2017, CEPB’s Net sales increased by 23% while their Gross Profit increased by 39.9%.

Furthermore, the company’s other charges went up by almost 29% while their Other income reduced significantly by 33%, yet the operating profit registered a growth of 44%.

Other than that, their tax provisions increased by 45.7%, leading the overall profit for this period to increase by a margin of 64.7%.

Basic and diluted earnings per share were reported to have increased to Rs.6.25 per share from Rs.3.66 per share.

 

Financial Results for the Year Ended June 30th 2018 ('000 Rupees)

 

Jun-18

Jun-17

% Change

Sales - net

                     18,964,573

                     15,401,157

23.14%

Cost of sales

                  (16,458,803)

                  (13,609,628)

20.93%

Gross profit

                       2,505,770

                       1,791,529

39.87%

General and administrative expenses

                        (425,754)

                        (375,135)

13.49%

Selling and distribution expenses

                        (129,204)

                        (115,088)

12.27%

Other operating charges

                        (134,680)

                        (104,427)

28.97%

Other income

                             75,438

                           113,859

-33.74%

Operating profit

                       1,891,570

                       1,310,738

44.31%

Finance cost

                        (460,354)

                        (406,945)

13.12%

Net profit before taxation

                       1,431,216

                           903,793

58.36%

Taxation

                        (439,357)

                        (301,577)

45.69%

Net profit for the year

                           991,859

                           602,216

64.70%

Earnings per share - basic and diluted (Rupees)

                                  6.25

                                  3.66

70.77%

 

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