Earning Review: FCCL receives a crushing blow from higher tax expenses

News Image

By MG News | August 27, 2019 at 01:14 PM GMT+05:00

0:00

August 27, 2019 (MLN): Fauji Cement Company Limited has declared net income of Rs. 2.8 billion (EPS: Rs. 2.05) for the year ended June 30, 2019, which is 17% lower than the income recorded in last year.

According to the financial report issued by the company, the sales revenue exhibited slight decline of 1.7%, mainly owing to decline in volumetric sales. On the other hand, the cost of sales slipped by 4% in spite of higher input costs. This translated into a growth in gross profits by 5%.

Despite lower volumetric sales, the distribution and administrative expenses of the company grew by 6% and 8% respectively.

Nonetheless, the biggest blow to the company was given by income tax expense, as it jumped by 137%.

The company also announced a final cash dividend for the year at Rs. 0.75 per share of Rs.10/- each i.e. 7.5 %. This is in addition to interim cash dividend already paid at Rs. 0.75 per share of Rs. 10 each, i.e. 7.5%.

Profit and loss account for the year ended June 30, 2019 (Rupees'000)

 

June, 2019

June, 2018

% Change

Turnover-net

20,798,082

21,160,878

-1.71%

Cost of sales

-15,474,771

-16,124,517

-4.03%

Gross profit

5,323,311

5,036,361

5.70%

Distribution cost

-210,335

-197,707

6.39%

Administrative expenses

-415,979

-385,602

7.88%

Other operating expenses

-326,689

-311,184

4.98%

Finance cost

-106,758

-147,813

-27.77%

Other income

148,358

104,094

42.52%

Profit before taxation

4,411,908

4,098,149

7.66%

Income tax expense

-1,587,610

-668,685

137.42%

Profit for the year

2,824,298

3,429,464

-17.65%

Earnings per share - basic and diluted (Rupees)

2.05

2.49

-17.67%

 

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 128,199.43
336.91M
2.05%
2572.11
ALLSHR 79,787.62
1,023.63M
1.53%
1202.91
KSE30 39,105.00
121.90M
2.49%
951.21
KMI30 186,915.61
131.16M
1.10%
2029.11
KMIALLSHR 54,201.88
553.60M
0.81%
438.07
BKTi 33,476.68
51.49M
4.87%
1555.00
OGTi 27,962.58
9.77M
0.68%
188.60
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 106,435.00 106,490.00
105,440.00
685.00
0.65%
BRENT CRUDE 67.15 67.29
67.05
0.04
0.06%
RICHARDS BAY COAL MONTHLY 97.50 97.50
97.50
0.70
0.72%
ROTTERDAM COAL MONTHLY 103.80 103.80
103.80
-3.45
-3.22%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 65.47 65.65
65.34
0.02
0.03%
SUGAR #11 WORLD 15.70 16.21
15.55
-0.50
-3.09%

Chart of the Day


Latest News
July 02, 2025 at 06:01 AM GMT+05:00

MG Morning Breeze: Updates to Skim before Market


July 01, 2025 at 10:04 PM GMT+05:00

Pakistan’s trade deficit improves by over 9% in June


July 01, 2025 at 05:24 PM GMT+05:00

Gold price in Pakistan rises Rs6,600 per tola



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg