Maple Leaf Cement's production cost pulls down annual profits by 4%

News Image

By MG News | September 18, 2018 at 10:27 AM GMT+05:00

0:00

September 18, 2018 (MLN): According to their consolidated profit and loss account, Maple Leaf Cement Factory Limited witnessed an overall drop of 4% in annual profits, saved by reduced tax provisions, as the pre-tax profits are reported to be suffering a 22% decline on a year-on-year basis.

The company’s Board of Directors meeting took place yesterday, where the financial earning for the year ended June 30th 2018 were assessed and laid side by side with the earnings made during the year ended June 30th 2017.

According to the report issued to PSX earlier today, the company’s net sales grew by 7.5% while an 18% increase in cost of goods sold weighed down the gross profits by 9%.  

Although, operating expenses dropped by 1.7%, a 386% increase in finance costs, which went up from Rs.174.2 million to Rs.847.3 million, YoY, resulted in pre-tax profits to decline by 22%.

Fortunately for the company, tax provisions during the year dropped by 63.5%, letting the overall profits drop by a comparatively smaller margin, as they came down from Rs.4.8 billion to Rs.4.6 billion, YoY.

The company’s basic and diluted earnings per share during the year dropped from Rs.8.81 per share to Rs.7.92 per share.

 

Financial Results for the Year ended June 30th 2018 ('000 Rupees)

 

Jun-18

Jun-17

% Change

Sales - net

                                 25,684,164

                                 23,885,410

7.53%

Cost of goods sold

                              (17,158,820)

                              (14,509,777)

18.26%

Gross profit

                                   8,525,344

                                   9,375,633

-9.07%

Distribution cost

                                 (1,229,515)

                                 (1,275,182)

-3.58%

Administrative expenses

                                    (739,264)

                                    (636,170)

16.21%

Other charges

                                    (436,443)

                                    (536,369)

-18.63%

 

                                 (2,405,222)

                                 (2,447,721)

-1.74%

Other income

                                         63,036

                                       115,922

-45.62%

Profit from operations

                                   6,183,158

                                   7,043,834

-12.22%

Finance cost

                                    (847,318)

                                    (174,247)

386.27%

Profit before taxation

                                   5,335,840

                                   6,869,587

-22.33%

Taxation

                                    (763,035)

                                 (2,093,275)

-63.55%

Profit after taxation

                                   4,572,805

                                   4,776,312

-4.26%

Basic and diluted earnings per share (Rupees)

                                              7.92

                                              8.81

-10.10%

 

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 125,627.31
258.99M
1.00%
1248.25
ALLSHR 78,584.71
1,142.41M
1.16%
904.89
KSE30 38,153.79
69.25M
0.63%
238.06
KMI30 184,886.50
91.38M
0.01%
13.72
KMIALLSHR 53,763.81
554.57M
0.54%
290.61
BKTi 31,921.68
33.15M
1.78%
557.94
OGTi 27,773.98
9.65M
-0.40%
-112.21
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 107,680.00 108,105.00
107,505.00
-555.00
-0.51%
BRENT CRUDE 66.44 66.63
66.34
-0.30
-0.45%
RICHARDS BAY COAL MONTHLY 97.00 97.00
97.00
1.05
1.09%
ROTTERDAM COAL MONTHLY 107.65 107.65
105.85
1.25
1.17%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 64.79 65.02
64.67
-0.32
-0.49%
SUGAR #11 WORLD 16.19 16.74
16.14
-0.52
-3.11%

Chart of the Day


Latest News
July 01, 2025 at 06:00 AM GMT+05:00

MG Morning Breeze: Updates to Skim before Market


June 30, 2025 at 11:55 PM GMT+05:00

TRG: Dominos Tumbling for the Management



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg