Maple Leaf Cement reports 31% profit growth in H1FY24

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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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