Sales of Maple Leaf Cement Factory Limited increased by 37% to Rs48.5 billion in the first six months (January-June) of calendar year 2022 from Rs35.5 billion in the corresponding period of 2021. Similarly, the gross profit increased 66% to Rs12.3 billion during the six-month period of CY22 from Rs7.4 billion in the corresponding period the CY20.
Operating profit during the first half of this year increased 2% to Rs8.9 million from Rs8.7 million till June 2021. However, the profit-after-tax fell 42% to Rs3.6 million from Rs6.3 million in six months of 2021, reports WealthPK.
As of June 30, 2021, directors, the chief executive officer, their spouses and minor children owned 0.0253% shares of the company.
Associated companies had 56.3141% shares, banks, development financial institutions, and non-banking financial institutions 3.8507%, insurance companies 8.1010%, modarabas and mutual funds 7.3146%, general public (local) 20.4746%, (foreign) 3.3369% shares, and ‘others’ held 0.5811% shares till June 30, 2021, respectively.
Performance in 2021
During CY2021, the company registered sales revenue of Rs35.6 billion, which was 22% higher than Rs29.1 billion in CY20. The gross profit for the year stood at Rs8.6 billion, up a whopping 1301% from Rs613 million the previous year.
The after-tax profit for the year came in at Rs3.8 billion, showing an increase of 208% over a loss-after-tax of Rs3.6 billion in CY20.
The earnings per share (EPS) of the company stood at Rs2.47 in 2019, but plunged to minus Rs5.3 in 2020. However, in 2021 the EPS rebounded to Rs5.69 before declining to Rs3.3 in 2022. Maple Leaf Cement Factory Limited was established in Pakistan as a public-limited company on April 13, 1960. Cement manufacturing and sales are the company's main activities. Kohinoor Textile Mills Limited is its holding company.
Credit : Independent News Pakistan-WealthPk