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

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 30th 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.

Posted on: 2018-02-27T10:03:00+05:00