in

Maple Leaf Cement Reports Highest Quarterly Profits in 2.5 Years

Maple Leaf Cement Factory Limited’s (MLCF) announced its financial results for the half-year ended December 31, 2020.

The cement maker in the first half-year posted a consolidated profit of Rs. 1.62 billion as compared to a loss of Rs. 1.76 billion in the same period last year. The company posted a profit of Rs. 1.07 billion in the 2Q of FY21 as compared to a loss of Rs. 785 million. This is the highest quarterly profit the company has posted after ten quarters.

According to Topline Securities, the turnaround in profitability was on the back of improvement in gross profit margins as they were significantly improved due to better retention prices.

The net sales of the company during the first half jumped by 3.32 percent to Rs. 16.62 billion as compared to Rs. 16.18 billion.


ALSO READ

Cement Sales Grew by 16.28% in January 2021


Alongside the results, the board of the company has approved to set up line IV at the existing facility to the tune of 8,000 TPD with an estimated capital expenditure of Rs. 18.5 billion and construction period of 18 months after the opening of the date of Letter of Credit (LC).

The finance cost of the company declined by 55 percent to Rs. 743 million as compared to Rs. 1.66 billion as the loan repricing has started to kick in after a decline in the policy rate by 625bps.

Earnings per share were reported at Rs. 1.48 as compared to a loss per share of Rs. 2.42.

At the time of filing this report, MLCF’s shares at the bourse were trading at Rs. 46.70, up by Rs. 0.68 or 1.48 percent, with a turnover of 4.91 million shares on Thursday.

Source from :

Leave a Reply

Your email address will not be published. Required fields are marked *

GIPHY App Key not set. Please check settings

    PIA Increases International Flights and Restores Domestic Flights

    Pakistan Has Lost Nearly $38 Billion Since Being Put on FATF’s Grey List