Fauji Cement Company profits fall 2.7% to Rs. 1.267 billion

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.

Comparison of Key Financials

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.

Posted on: 2018-02-19T13:19:00+05:00