Gharibwal Cement posts profits worth Rs. 752.615 million

MG News | February 28, 2018 at 10:32 AM GMT+05:00

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Gharibwal Cement today released financial statements for the half year ending December, 31^st 2017. The company reported net sales worth Rupees 5.478 billion whereas reporting a total of 752.615 million worth of profits for the period.

The company during the period reported a 5.34% increase in General, Administrative Expenses, however, reporting a 20% decrease in Selling and Distribution Expenses.

Gharibwal Cement Management reported profit after taxation at Rupees 752.615 million falling by more than 32 percent during the period against last year’s profit of Rupees 1.112 billion.

The management reported earnings per share of Rupees1.88 per share against last year’s Rupees 2.78 per share.

Comparison of Key Financials
Unconsolidated Profit and Loss Account - For the Half Year Ended, December 30^th 2017
Key Financials	2017	2016	% Change
	Amounts in PKR ‘000
Net Sales	5,478,025	5,529,119	-0.92%
Cost of Sales	3,963,134	3,584,741	10.56%
Gross Profit	1,514,891	1,944,378	-22.09%
General and Administration Expenses	193,660	183,835	5.34%
Selling and Distribution Expenses	10,773	13,440	-19.84%
Other Expenses	83,411	82,312	1.34%
Profit from Operations	1,227,047	1,664,791	-26.29%
Other Income	13,358	20,813	-35.82%
Finance Cost	205,710	159,318	29.12%
Profit before Taxation	1,034,695	1,526,286	-32.21%
Taxation	282,080	414,058	-31.87%
Profit after Taxation	752,615	1,112,228	-32.33%
EPS - Basic and diluted	1.88	2.78	-32.37%

Company release on Earnings Report can be accessed here.

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