D. G. Khan Cement profits falls 17.13% to Rs. 3.733 billion
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By MG News | February 20, 2018 at 03:14 PM GMT+05:00
D. G. Khan Cement, a Nishat Group company, reported a 17% decline in bottom-line profits after Profit after Taxation for the company clocked in at Rs. 3.733 billion as it announced expansion plans at D. G. Khan cement site.
D. G. Khan Cement for the half year ending December, 2017 increased by 7.33% - 15.763 billion – with a 26% increase in cost of sales thinning gross margins by 17% to 5.249 billion.
However, the company’s earnings per share clocked in at Rupees 8.52 per share.
In additional notes, mentioned in the company releases, board at Nishat and DGK Cement plan to invest an additional amount worth Rs. 1 billion in Hyundai Nishat Motor Company via subscription of ordinary shares.
Furthermore, the management at D. G. Khan Cement announced that it is currently seeking regulatory permissions to set up brownfield cement production line and also reviewed the progress on existing expansion operations on production line 3 at D. G. Khan Khofli Sattai site.
| Unconsolidated Profit and Loss Account - For the Year Ended, December 30th 2017 | |||
|---|---|---|---|
| Key Financials | 2017 | 2016 | % Change |
| Amounts in PKR ‘000 | |||
| Sales | 15,763,670 | 14,687,163 | 7.33% |
| Cost of Sales | 10,513,750 | 8,347,598 | 25.95% |
| Gross Profit | 5,249,920 | 6,339,565 | -17.19% |
| Administrative Expenses | 295,919 | 261,323 | 13.24% |
| Selling and Distribution Expenses | 460,165 | 504,705 | -8.82% |
| Other Expenses | 469,528 | 506,377 | -7.28% |
| Other Income | 1,192,845 | 1,175,841 | 1.45% |
| Finance Cost | 192,644 | 163,113 | 18.10% |
| Profit before Taxation | 5,024,509 | 6,079,888 | -17.36% |
| Taxation | 1,290,654 | 1,574,207 | -18.01% |
| Profit after Taxation | 3,733,855 | 4,505,681 | -17.13% |
| EPS - Basic and diluted | 8.52 | 10.28 | -17.12% |
Company release on Earnings Report can be accessed here.
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