Power Cement today released financial statements for the operations between July – December, 2017. The company reported sales worth Rupees 2.092 billion and posted total bottom-line profits at Rupees 198 million.
The statements reveal a very placid growth in sales at the cement manufacturer, despite a widespread increase in local demand and export potential. Due to an abysmal 1.21% growth in the Sales, 2.18% growth in Cost of sales the margins shrunk to Rupees 438 million during the period down 2.26%.
The company’s profit after taxation during the period under review fell by more than 18.17%, clocking in at 198.124 million as despite the decline in sales the company’s Distribution and Administrative expenses increased by 24% and 79% respectively collectively taking away 124.716 million from bottom-line profits.
The company management reported an EPS of Rupees 0.21 per share against Rupees 0.61 per share during the second half of year 2016.
|
Unconsolidated Profit and Loss Account – For the Half Year Ended, December 30th 2017 |
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|---|---|---|---|
|
Key Financials |
2017 |
2016 |
% Change |
|
Amounts in PKR ‘000 |
|||
|
Net Sales |
2,092,008 |
2,066,907 |
1.21% |
|
Cost of Sales |
1,653,135 |
1,617,905 |
2.18% |
|
Gross Profit |
438,873 |
449,002 |
-2.26% |
|
Distribution Costs |
67,541 |
54,383 |
24.20% |
|
Administrative Expenses |
57,175 |
31,781 |
79.90% |
|
Other Income |
1,241 |
54,606 |
-97.73% |
|
Other operating Expense |
31,999 |
20,956 |
52.70% |
|
Operating Profit |
283,398 |
438,400 |
-35.36% |
|
Finance Income |
66,900 |
135 |
49455.56% |
|
Finance Cost |
78,752 |
135,191 |
-41.75% |
|
Finance(cost)/Income – net |
11,852 |
135,056 |
-91.22% |
|
Profit before Taxation |
271,546 |
303,344 |
-10.48% |
|
Taxation |
73,422 |
61,229 |
19.91% |
|
Profit after Taxation |
198,124 |
242,115 |
-18.17% |
|
EPS – Basic and diluted |
0.21 |
0.61 |
-65.57% |
Company release on Earnings Report can be accessed here.
