February 22, 2019 (MLN): Bestway Cement Limited has recorded profits of Rs. 6 billion for the half year ended December 31, 2018, nearly 11% higher than the profits earned in corresponding period last year.
The company’s cost of sales witnessed a relatively larger increase than the sales revenue, causing the gross profit margin to decline by 8% YoY.
However, a fall in income tax expenses by 69% turned the tables around for the company, as it led to a positive change in Profit after tax.
The company also announced an interim cash dividend for the quarter ended December 31, 2018 of Rs. 3 per shares i.e. 30%
Moreover, the EPS of the company was recorded at Ra. 11.54 for the aforementioned period.
Profit and loss account for the half year ended December 31 2018 (Rupees'000) |
|||
---|---|---|---|
|
Dec-18 |
Dec-17 |
% Change |
Gross turnover |
40,344,915 |
38,447,592 |
4.93% |
Less: rebates and discounts |
-1,105,426 |
-1,115,113 |
-0.87% |
less- sales tax and excise duty |
-11,539,323 |
-10,872,962 |
6.13% |
Revenue |
27,709,166 |
26,459,517 |
4.72% |
Cost of sales |
-18,606,622 |
-16,557,343 |
12.38% |
Gross profit |
9,102,544 |
9,902,174 |
-8.08% |
Other income |
60,489 |
82,310 |
-26.51% |
Selling and distribution expenses |
-793,210 |
-710,242 |
11.68% |
Administrative expenses |
-400,320 |
-1,156,528 |
-65.39% |
Other expenses |
-483,206 |
-541,647 |
-10.79% |
Operating profit |
7,486,297 |
7,576,067 |
-1.18% |
Net Finance costs |
-692,938 |
-300,344 |
130.71% |
Share of profit of equity-accounted investees, net of tax |
732,567 |
1,001,174 |
-26.83% |
Profit before tax |
7,525,926 |
8,276,897 |
-9.07% |
income tax expense |
-645,244 |
-2,082,740 |
-69.02% |
Profit for the period |
6,880,482 |
6,194,157 |
11.08% |
Earnings per share – basic and diluted (Rupees) |
11.54 |
10.39 |
11.07% |
Copyright Mettis Link News
26295