Maple Leaf Cement reports 31% profit growth in H1FY24

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

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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%

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