Gharibwal Cement posts profits worth Rs. 752.615 million

Gharibwal Cement today released financial statements for the half year ending December, 31st 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 30th 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.

Posted on: 2018-02-28T10:32:00+05:00