Maple Leaf Cement reports 31% profit growth in H1FY24

MG News | February 20, 2025 at 10:02 AM GMT+05:00

0:00

February 20, 2025 (MLN): Maple Leaf Cement Factory Limited (PSX: MLCF) disclosed its earnings for the half-year ended December 31, 2024, reporting a profit after tax of Rs5.08 billion [EPS: Rs4.85].

This represents a significant increase of 31.24% compared to Rs3.87bn [EPS: Rs3.60] in the same period last year (SPLY).

The company’s revenue remained stable at Rs34.75bn, with no notable change from SPLY.

However, a reduction in the cost of sales by 4.02% YoY to Rs22.21bn improved the gross profit by 8.01% YoY, reaching Rs12.54bn.

Administrative expenses surged by 28.05% to Rs1.26bn, while distribution costs declined by 14.49% YoY to Rs2.39bn.

Additionally, net impairment losses on financial assets saw an increase of 86.44% YoY to Rs330mn.

Other income declined by 16.53% YoY to Rs1.22bn, while finance costs increased by 12.31% to Rs2.09bn due to rising interest rates.

Despite this, the company's profit before taxation rose by 23.68% YoY to Rs7.22bn.

On the tax front, the company incurred Rs2.14bn in taxes, marking a 41.13% increase YoY.

Consolidated Profit and Loss For The Period Ended December 31, 2024
	Dec-24	Dec-23	%Change
Revenue	34,747,988	34,748,576	0.00%
Cost of Sales	(22,208,826)	(23,138,420)	-4.02%
Gross Profit	12,539,719	11,610,156	8.01%
Administrative Expenses	(1,259,934)	(983,964)	28.05%
Distribution Cost	(2,390,476)	(2,795,655)	-14.49%
Net Impairment Losses	(330,000)	(177,000)	86.44%
Other Expenses	(461,333)	(559,903)	-17.60%
Other Income	1,219,634	1,461,130	-16.53%
Finance Cost	(2,090,668)	(1,861,534)	12.31%
Profit Before Taxation	7,220,114	5,837,970	23.68%
Taxation	(2,142,376)	(1,517,979)	41.13%
Profit for the Period	5,077,738	3,869,191	31.24%
Profit Attributable to:
Equity Holders of the Company	5,077,833	-
Non-Controlling Interests	(95)	-
Earnings per Share (Rupees)
Basic and Diluted	4.85	3.6	34.72%

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	150,016.16 145.54M	0.56% 837.50
ALLSHR	90,164.34 252.99M	0.46% 410.34
KSE30	45,486.46 99.07M	-0.00% -1.03
KMI30	214,854.66 60.89M	0.67% 1433.99
KMIALLSHR	58,253.19 111.97M	0.44% 254.55
BKTi	41,815.03 51.07M	-1.21% -510.60
OGTi	30,860.86 6.60M	0.86% 262.33

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	74,275.00	74,765.00 73,630.00	-410.00 -0.55%
BRENT CRUDE	102.51	103.67 102.06	-0.91 -0.88%
RICHARDS BAY COAL MONTHLY	99.40	0.00 0.00	-11.95 -10.73%
ROTTERDAM COAL MONTHLY	121.85	122.00 121.75	0.70 0.58%
USD RBD PALM OLEIN	1,083.50	1,083.50 1,083.50	0.00 0.00%
CRUDE OIL - WTI	94.13	95.65 93.75	-2.08 -2.16%
SUGAR #11 WORLD	14.47	14.51 14.19	0.28 1.97%