Cherat Cement announces distinction of Rs621 million
KARACHI: Cherat Cement Company Limited (CHCC) announced a distinction of Rs621 million for a second entertain finished Dec 31, 2016, adult 52% from Rs408 million in a same duration of a prior year, according to a association notice sent to Pakistan Stock Exchange (PSX).
Earnings per share (EPS) increasing to Rs3.51 from an EPS of Rs2.31 in a duration underneath review.
Cumulatively, gain for a initial 6 months (Jul-Dec) overwhelmed Rs1.02 billion, adult 51% compared with Rs676 million in a same duration of a prior year.
CHCC’s share cost edged adult to Rs181.14, an boost of 0.33% compared to a final day’s shutting price. The KSE-100 index sealed during 49,874, down 15 points or 0.03%.
The company’s income increasing due to incremental outlay from operational enlargement and softened sum domain of 4.41 commission points year-on-year/3.04 commission points quarter-on-quarter approaching due to operational efficiencies attributable to a new line, according to a AKD Research report.
The gain came in significantly above expectancy of Rs399 million (or an EPS of Rs2.26) approaching due to larger than approaching sum domain outset from cheaper spark register and operational efficiencies of new line, a news added.
The association also announced a division of Rs1 per share (payout: 17%) for a initial half of mercantile year 2017 compared with Rs1 per share (payout: 26%) in a initial half of mercantile year 2016.
The division payout was reduce than expectancy of Rs2 per share (expected payout ratio: 44%) demonstrative of compelled payout ratio in a future.
Published in The Express Tribune, Feb 9th, 2017.
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Article source: https://tribune.com.pk/story/1321069/cherat-cement-announces-profit-rs621-million/