Deewan Cement’s net earnings depict a downward trajectory following no growth in revenue

06:52
February 26, 2019
MG

February 26, 2019 (MLN): Dewan Cement Limited has reported net earnings of Rs. 328 million (EPS: 0.68) for the half year ended December 31, 2018. This shows that the company has suffered decline of 40% in earnings as a result of almost no growth in sales revenues and massive reduction in non-core income.

The increase in income tax expense by 43% also contributed in dragging down company’s profits.

Profit and loss account for the six months ended December 31 2018 (Rupees'000)
	Dec-18	Dec-17	% Change
Turnover – Net	6,466,207	6,457,726	0.13%
Cost of sales	-5,331,783	-5,288,954	0.81%
Gross profit	1,134,424	1,168,772	-2.94%
Distribution cost	-111,004	-106,127	4.60%
Administrative expenses	-217,779	-294,363	-26.02%
Other operating expenses	-73,917	-99,961	-26.05%
Operating profit	731,724	668,321	9.49%
Other income	1,188	180,473	-99.34%
Finance cost	-19,586	-29,624	-33.88%
Profit before taxation	713,326	819,170	-12.92%
Taxation – Net	-384,804	-268,970	43.07%
Profit after taxation	328,522	550,200	-40.29%
Earnings per share -Basic and diluted	0.68	1.14	-40.35%

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Posted on: 2019-02-26T11:52:00+05:00

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47	XAG	28.37820	28.38780	28.38780	28.37820	02:54 AM
48	XPT	964.35000	965.90000	965.90000	964.35000	11:54 AM
49	XPD	1,019.01000	1,029.01000	1,029.01000	1,019.01000	11:54 AM
2,120	VES	36.18970	36.28460	36.28456	36.18970	08:00 PM
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KMIALLSHR	33,171.70	33,079.216	32,942.84	204.513	0.622	147,390,203.0	9,442,040,867.710	-1	16/04/2024 12:09 PM
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