Gharibwal Cement posts profits worth Rs. 752.615 million
By MG News | February 28, 2018 at 10:32 AM GMT+05:00
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.
| 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.
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