Pioneer Cement Limited profits fall 40.6% to Rs. 417 million

By MG News | October 23, 2017 at 01:13 PM GMT+05:00

0:00

Pioneer Cement Limited Net Sales for the period decreased by 3.32% (Cement +11%, Clinker -53%), amounting to a total of 3.4 billion Rupees during the Quarter ended September, 30^th 2017
Company’s Distribution Costs witnessed a 105% increase during the period under review
The Profit after tax for the period decreased 40.6% reaching 417 million compared to same year last year’s profit of 702 million Rupees.
The company’s earnings per share reached 1.84 Rupees, down by 40.6% from 3.09/share last year

Comparison of Key Financials
Unconsolidated Profit and Loss Account - For the Quarter Ended, September 30^th 2017
Key Financials	2017	2016	% Change
	Amounts in PKR ‘000
Gross Sales	3,444,284	3,459,112	-0.43%
Cement	3,154,758	2,842,509	10.98%
Clinker	289,526	616,603	-53.04%
Sales - net	2,421,094	2,504,145	-3.32%
Cost of Sales	1,604,034	1,430,935	12.10%
Gross Profit	817,060	1,073,210	-23.87%
Distribution Cost	30,003	14,616	105.28%
Administrative Expenses	21,346	21,076	1.28%
Operating Profit	615,792	997,213	-38.25%
Finance Cost	19,749	1,135	1640.00%
Profit before Taxation	596,042	996,078	-40.16%
Taxation	178,819	293,801	-39.14%
PAT	417,223	702,277	-40.59%
EPS - Basic & diluted	1.84	3.09	-40.45%

Company release on Earnings Report can be accessed here.

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	110,400.00	110,965.00 109,200.00	115.00 0.10%
BRENT CRUDE	68.94	69.00 68.32	-0.17 -0.25%
RICHARDS BAY COAL MONTHLY	97.50	0.00 0.00	-0.75 -0.76%
ROTTERDAM COAL MONTHLY	109.15	109.80 109.15	0.15 0.14%
USD RBD PALM OLEIN	998.50	998.50 998.50	0.00 0.00%
CRUDE OIL - WTI	67.32	67.50 66.65	-0.13 -0.19%
SUGAR #11 WORLD	15.86	15.90 15.44	0.28 1.80%