Cherat Cement profit up 19.75 percent

Net profit of Cherat Cement went up 19.75 percent to Rs743.44 million for the quarter ended December 31, 2017, translating into earnings per share (EPS) of Rs4.21, a bourse filing said.

The company profit was Rs620.82 million with an EPS of Rs3.51 in the quarter ended December 31, 2016, a notice to the PSX said. Cherat Cement also declared an interim dividend of Rs1.0/share along with the corporate announcement.

Company’s sales revenues in the quarter surged 60 percent to Rs3.69 billion compared with revenues of Rs2.31 billion in the previous year.

Saquib Hussain at Sherman Securities said Cherat Cement stood out to be a main beneficiary of its new capacity addition as its market share increased by 3.1ppts to 7.0 percent in the first half of FY18. “Revenue of the company jumped owing to 107 percent increase in overall cement dispatches.”

For the half-year ended December 31, 2017, Cherat Cement posted a net profit of Rs1.34 billion translating into EPS of Rs7.64 compared with the profit of Rs1.025 billion and EPS of Rs5.8 the previous year.