January 21, 2019 (MLN): Attock Cement Pakistan Limited (ACPL) has reported its consolidated quarterly profit for the period ended December 31, 2018 at Rs.393.7 million (EPS: PKR 2.87), whereas the cumulative profit for the six month period (July – December) stands at Rs.816.8 million (EPS: PKR 5.94), down by around 29%, year-on-year.
Although the company’s topline (Rs.10.6 billion) grew by 44% YoY led by growth in despatches, the cost pressures rose substantially in light of the 26% PKR devaluation and higher coal prices during the last quarter.
ACPL’s cost of sales (Rs.8.4 billion) grew by Rs.3.4 billion (+69% YoY), bringing down the gross profits (Rs.2.25 billion) by 6% YoY.
Further increments in overall expenses added additional weight, bringing down the profits from operations (Rs.1.3 billion) by 27% YoY.
However, the company did save up Rs.379 million from decline in income tax expenses.
Financial Results for the half year Ended Dec 31st 2018 ('000 Rupees) |
|||
---|---|---|---|
|
Dec-18 |
Dec-17 |
% Change |
Revenue |
10,634,223 |
7,362,916 |
44.43% |
Cost of Sales |
(8,385,953) |
(4,964,507) |
68.92% |
Gross Profit |
2,248,270 |
2,398,409 |
-6.26% |
Distribution cost |
(749,396) |
(279,189) |
168.42% |
Administrative expenses |
(252,112) |
(241,743) |
4.29% |
Other expenses |
(61,000) |
(91,741) |
-33.51% |
Other income |
134,545 |
27,602 |
387.45% |
Profit from operations |
1,320,307 |
1,813,338 |
-27.19% |
Finance cost |
(300,541) |
(78,291) |
283.88% |
Profit before income tax |
1,019,766 |
1,735,047 |
-41.23% |
Income tax credit/(expense) |
(202,976) |
(582,132) |
-65.13% |
Profit for the year |
816,790 |
1,152,915 |
-29.15% |
Earnings per share – basic and diluted (Rupees) |
5.94 |
8.39 |
-29.20% |
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