D. G. Khan Cement profits falls 17.13% to Rs. 3.733 billion

MG News | February 20, 2018 at 03:14 PM GMT+05:00

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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.

Comparison of Key Financials
Unconsolidated Profit and Loss Account - For the Year Ended, December 30^th 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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