Fauji Cement Company profits fall 2.7% to Rs. 1.267 billion
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By MG News | February 19, 2018 at 01:19 PM GMT+05:00
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.
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