Earnings Report: Cherat Packaging Ltd. (PSX: CPPL) today reported Financial Results for the twelve months ended June 30, 2017

MG News | August 23, 2017 at 12:09 PM GMT+05:00

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Cherat Packaging Ltd. announced Financial Results for the period ended June 30, 2017.

The company’s Net Turnover for the period decreased by 6 percent in the outgoing year, whereas the Profit after Taxation for the Period decreased by 24 percent.

The board has recommended a Cash Dividend @ Rs. 7.00 per share i.e. 70%. This is in addition to the interim dividend already paid at Rs. 2.50/- per share i.e. 25%.

The Board has recommended to issue 13.50% Right Shares (in proportion of 13.50 share for every 100 shares held) at a price of Rupees 125 per share i.e. premium of Rs. 115 per share over the par value of Rs. 10/-.

The board issued no bonus or right shares.

Comparison of Key Financials

Unconsolidated Profit and Loss Account
Key Financials	2017	2016	% Change
	Amounts in PKR ‘000
Net Turnover	6,443,932	6,888,605	-6%
Cost of Sales	5,187,454	5,306,538	-2%
Gross Profit	1,256,478	1,582,067	-21%
Dist: Costs	117,198	84,536	39%
Admin: Expenses	62,145	48,477	28%
Other Expenses	60,582	97,677	-38%
Other Income	20,508	29,018	-29%
Operating Profit	1,037,061	1,380,395	-25%
Finance Costs	64,118	72,404	-11%
Profit before Taxation	972,943	1,307,991	-26%
Taxation	270,894	389,752	-30%
Net Profit of the year	702,049	918,239	-24%
EPS - Basic and diluted	23.71	31.02	-24%

Company release on Earnings Report can be accessed here.

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