Lahore: Maple Leaf Cement Factory Limited released its financial results for the half-year period ending December 31, 2024, demonstrating a notable increase in profit despite steady revenue figures. According to their unaudited financial statements, the company reported a consolidated profit of 5.08 billion rupees for the period, compared to 3.87 billion rupees in the same period last year. This represents a significant profit growth, even as revenues remained relatively stable at 34.75 billion rupees, slightly down from 34.75 billion rupees in the previous year.
The financial results were announced during a board meeting held via video conferencing at the company's registered office on Lawrence Road, Lahore, on February 19, 2025. The board did not recommend any cash dividends, bonus shares, or other corporate actions for this period. The company emphasized that the disclosure fulfills the requirements of Sections 96 and 131 of the Securities Act.
According to the provided figures, the gross profit for the half-year increased to 12.54 billion rupees from 11.61 billion rupees in the previous year. Administrative expenses rose to 1.26 billion rupees, and distribution costs decreased to 2.39 billion rupees compared to last year's figures. The company also recorded net impairment losses on financial assets amounting to 330.00 million rupees.
The cost of sales for the half-year reached 22.21 billion rupees, down from 23.14 billion rupees in the previous year. Other expenses totaled 461.53 million rupees, while other income surged to 1.21 billion rupees. The finance cost increased to 2.09 billion rupees.
Maple Leaf Cement's profit before taxation stood at 7.22 billion rupees, while taxation expenses amounted to 2.14 billion rupees. The earnings per share for the period were reported at 4.85 rupees, up from 3.60 rupees.
According to information available from the Pakistan Stock Exchange (PSX), the company generated a net cash inflow from operating activities amounting to 11.66 billion rupees, significantly higher than the 5.09 billion rupees reported for the same period last year. However, investing activities resulted in a net cash outflow of 10.61 billion rupees.
In financing activities, the company reported proceeds of 2.50 billion rupees from long-term loans, with a net increase in cash and cash equivalents of 2.33 billion rupees by the end of the period. The cash and cash equivalents at the beginning of the period were recorded at a negative 273.40 million rupees, improving to 2.06 billion rupees by the end of the period.
Maple Leaf Cement Factory Limited operates in the designated market category, and its financial performance reflects both the challenges and opportunities within the industry. The company plans to transmit its quarterly report for the period ending December 31, 2024, through the Pakistan Unified Corporate Action Reporting System (PUCARS) separately within the specified time frame.