Corporate Result: PIOC revenue declined by 5.24%

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Pioneer Cement Limited (PIOC) has announced the financial results for six months ended December 31, 2019, whereby it has reported Loss of Rs. 111.6 Mn (LPS: Rs. 0.49), showing a massive decline as compared to the profits of the same period last year.

During the period under review, PIOC’s sales declined by 5.24% to Rs. 6.90 Bn as compared to the last year. The cost of sales increased by 5.7% to Rs. 4.10 Bn which translated into the lower Gross Profit of Rs. 45.01 Mn.

The other income of the company also increased by 777% to Rs. 160.9 Mn as compared to the last year.

Furthermore, the Finance cost of the company has increased by 7.6% and was recorded at Rs. 182.2 Mn. The Distribution Cost of the company has also increased to Rs. 161.6 Mn, which was Rs. 86.5 Mn during the last year for same period.

PIOC – HALF YEAR

Quarter ended

EPS 2019 = 0.32 PKR
EPS 2018 = 1.18 PKR

Half Year Ended

LPS 2019 = (0.49) PKR
EPS 2018 = 2.32 PKR

Cash Dividend = NIL
Bonus Share = NIL