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

MG News | February 19, 2018 at 01:19 PM GMT+05:00

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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 31^st 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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