Power Cement Ltd. profits fall 18.17% to Rs. 198.124 million

MG News | February 27, 2018 at 10:03 AM GMT+05:00

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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.

Comparison of Key Financials
Unconsolidated Profit and Loss Account - For the Half Year Ended, December 30^th 2017
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.

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