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.
