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.