CHCC today released financial results for the half year and quarter ending December, 31st 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.
|
Unconsolidated Profit and Loss Account – For the Half Year Ended, December 31st 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.
