Fauji Cement Company today reported a decline of 2.7% in bottom line profits – Rs. 1.267 billion – according to a company release issued on Pakistan Stock Exchange.
Fauji Cement Company Ltd., Pakistan’s leading supplier to government run infrastructure projects, net turnover for the last six months of year 2017 reported a 0.80% increase after sales clocked in at 10.268 billion. In tandem with Turnover, company’s cost of sales also reported a jump of 3% in the company accounts.
Distribution costs went up by 59%, Finance Costs decline by 50% and as per the official statements company’s other income also took a 47% fall.
Conclusively, company reported earnings per share of Rs. 0.92 rupees with a bottom-line profit of Rs. 1.267 billion down 2.7% against half year 2016 Rs. 1.302 billion.
Unconsolidated Profit and Loss Account – For the Half Year Ended, December 31st 2017 | |||
|---|---|---|---|
Key Financials | 2017 | 2016 | % Change |
Amounts in PKR ‘000 | |||
Turnover – Net | 10,268,488 | 10,187,143 | 0.80% |
Cost of Sales | 8,040,356 | 7,868,869 | 2.18% |
Gross Profit | 2,228,132 | 2,318,274 | -3.89% |
Distribution Costs | 119,991 | 75,421 | 59.09% |
Administrative Expenses | 174,401 | 167,138 | 4.35% |
Other Operating Expenses | 137,398 | 136,966 | 0.32% |
Finance Costs | 73,938 | 149,254 | -50.46% |
Other Income | 35,149 | 66,889 | -47.45% |
Profit before Taxation | 1,757,553 | 1,856,384 | -5.32% |
Current | 604,754 | 736,349 | -17.87% |
Deferred | 114,999 | 182,917 | -37.13% |
Taxation | 489,755 | 553,432 | -11.51% |
Profit for the Period | 1,267,798 | 1,302,952 | -2.70% |
EPS – Basic | 0.92 | 0.94 | -2.13% |
EPS – Diluted | 0.92 | 0.94 | -2.13% |
Company release on Earnings Report can be accessed here.
