Karachi: Cherat Cement Company Limited has announced an interim cash dividend of Rs. 1.5 per share, representing 15% of the face value, as part of its financial results for the period ended December 31, 2024. The decision was made during a Board of Directors meeting held on February 21, 2025, at the company's head office on Beaumont Road, Karachi.
The company reported a notable increase in its total assets, which stood at 54.56 billion rupees as of December 31, 2024, compared to 41.03 billion rupees on June 30, 2024. This growth was primarily driven by a significant rise in current assets, which increased to 25.29 billion rupees from 11.50 billion rupees. Fixed assets, including property, plant, and equipment, were valued at 28.06 billion rupees.
According to information available from the Pakistan Stock Exchange (PSX), the company achieved a profit before income tax of 7.12 billion rupees for the period ending December 31, 2024, up from 5.11 billion rupees in the previous year. This improvement in profitability was supported by efficient cost management and strong operational performance.
Cherat Cement's reserves also saw an increase, reaching 28.03 billion rupees from 23.60 billion rupees. Meanwhile, the company's current liabilities rose to 16.57 billion rupees, up from 7.36 billion rupees, primarily due to an increase in short-term borrowings and taxation liabilities.
The share transfer books will be closed from March 4, 2025, to March 5, 2025, for the purpose of finalizing the entitlement of the announced dividend. The company's share registrar, CDC Share Registrar Services Limited, will accept transfers until the close of business on March 3, 2025.
Cherat Cement reported a net increase in cash and cash equivalents, which amounted to 4.62 billion rupees by the end of the period, reflecting improved cash flow management. The financial results, including the Statement of Financial Position, Statement of Changes in Equity, and Statement of Cash Flow, were annexed with the announcement. The Half Yearly Report for the period ended December 31, 2024, will be transmitted through PUCARS in due course.