Maple Leaf Cement reports 31% profit growth in H1FY24
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By MG News | Category Equity | February 20, 2025 at 10:02 AM GMT+05:00
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% |
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