Cherat Cement Company Ltd. profits rise 31.64% to Rs. 1.349 billion

MG News | February 08, 2018 at 10:49 AM GMT+05:00

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CHCC today released financial results for the half year and quarter ending December, 31^st 2017. The company reported significant increase in sales and bottom line profits.

CHCC releases on the exchange show a very decent performance during the last half year ending December, 2017. Net Turnover during the reported period only went up by 85.81%, with Cost of Sales increasing by more than 137.91%, resulting in a Gross Margin of Rs. 1.861 billion against Rs. 1.676 billion last year.

Company management reduced almost all expense heads during the outgoing half year, meanwhile, the finance costs jumped by more than 1268% to Rs. 182.341 million. Other income also dipped to Rs. 37 million against Rs. 60 million during the same period in 2016.

Company’s bottom line profits witnessed a smooth upward jump of 31.64% to reach Rs. 1.349 billion owing much to the 99% reduction in taxation for the period.

The company reported an EPS of Rs. 7.64 vs. an EPS of Rs.5.8 during half year ending December, 2016.

Comparison of Key Financials
Unconsolidated Profit and Loss Account - For the Half Year Ended, December 31^st 2017
Key Financials	2017	2016	% Change
	Amounts in PKR ‘000
Net Turnover	7,585,921	4,082,645	85.81%
Cost of Sales	5,724,718	2,406,218	137.91%
Gross Profit	1,861,203	1,676,427	11.02%
Distribution Costs	165,220	134,935	22.44%
Administrative Expenses	119,772	121,394	-1.34%
Other Expenses	81,768	102,249	-20.03%
Other Income	37,357	60,379	-38.13%
Operating Profit	1,531,800	1,378,228	11.14%
Finance Costs	182,341	13,327	1268.21%
Profit before Taxation	1,349,459	1,364,901	-1.13%
Taxation	99	339,745	-99.97%
Net Profit for the period	1,349,558	1,025,156	31.64%
EPS - Basic & Diluted	7.64	5.80	31.72%

Company release on Earnings Report can be accessed here.

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