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KOHC earning expects 27% decline in 1HFY19

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Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at wnobserver.com

Kohat Cement Company Limited (KOHC) is scheduled to unveil its financial result on 21st Feb’19, whereby we expect the company to post earnings of PKR 671mn (EPS: PKR 3.34) in 2QFY19, down by 9% YoY from PKR 741mn (EPS: PKR 3.69) in SPLY.

Analysts forecast topline of the company to arrive at PKR 4,345mn, depicting a growth of 26% YoY on the back of 7% YoY uptick in dispatches to 618k tons together with higher retention prices.

Albeit, margins are projected to compress to 26% vis-à-vis 34% in SPLY led by 26% depreciation in the Pak Rupee against US Dollar and 10% YoY higher average coal prices.

This will take the cumulative PAT for 1HFY19 to PKR 1,199mn (EPS: PKR 5.97) compared to PKR 1,644mn (EPS: PKR 8.19), down by 27% YoY.

Although company sales remained robust at PKR 7,865mn (up by 15% YoY given 2% uptick in dispatches and higher prices), weaker gross margins at 25% (1HFY18: 37%) adversely effected bottom-line in 1HFY19.

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