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.