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HomeEquityPioneer Cement profits falls by 52.12 percent to Rs. 1.148 billion

Pioneer Cement profits falls by 52.12 percent to Rs. 1.148 billion

Pioneer Cement Company Limited (PIOC) today announced financial results for the nine months ending 31 March, 2018 reporting Net Turnover at Rs. 7.504 billion; a decrease of 7.22 percent. Furthermore, the company’s Gross Profit fell to Rs. 2.062 billion from Rs. 3.324 billion last year during the outgoing nine months.

On the expenses front, PIOC reported 147.83 percent increase in Distribution Costs, 16.85 percent increase in Administration Expenses, whereas, other expenses incurred by the company clocked in at Rs. 161.651 million during the period.

Furthermore, PIOC also reported a 91.81 percent decrease in Other Income reaching Rs. 15.073 million during the nine months.

Pioneer Cement Company Limited reported profit after taxation at Rs. 1.148 billion against Rs. 2.399 billion during the same period last year translating into an EPS of Rs. 5.06 vs. an EPS of Rs. 10.56 during the nine months ending March, 2017. 

Comparison of Key Financials

Unconsolidated Profit and Loss Account – For the Nine Months Ended, 31 March, 2017

Key Financials

2018

2017

% Change

 

Amounts in PKR ‘000

Net Turnover

7,504,530

8,088,757

-7.22%

Cost of Sales

5,442,495

4,764,014

14.24%

Gross Profit

2,062,035

3,324,743

-37.98%

Distribution Costs

114,305

46,123

147.83%

Administrative Expenses

68,284

58,436

16.85%

Other Expenses

161,651

234,840

-31.17%

Other Income

15,073

184,084

-91.81%

Operating Profit

1,732,868

3,169,428

-45.33%

Finance Cost

78,551

5,792

1256.20%

Profit before Taxation

1,654,317

3,163,636

-47.71%

Taxation

505,500

764,256

-33.86%

Profit after Taxation

1,148,817

2,399,380

-52.12%

EPS – Basic and diluted

5.06

10.56

-52.08%

Company release on Earnings Report can be accessed here.

Posted on: 2018-04-25T13:33:00+05:00
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