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.
|
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.
