Lahore February 23 2022: Maple Leaf Cement Factory Limited shared its financial results through Pakistan Stock Exchange. Companies sales for the 1HFY22 continues to show signs of recovery, clocking a growth of 33 percent compared to the same period last year due to significant increase in retention prices. Retail prices in the North region increased by 28 percent to average PKR 690 per bag during 1HFY22 compared to average of PKR 540 per bag during same period last year.
The company’s gross profit margins increased to 31.8 percent compared 24.4 percent during same period last year. The company has posted highest ever gross margins in the industry so far. Higher prices were the main reasons behind this increase.
In addition, lower financing costs for the period has contributed towards improvement in net profit.
Finance cost of the company down by 9 percent to PKR 676 million during 1HFY22.
Companies profit after tax has reached at PKR 2,757 million up by 70 percent during 1HFY22.
Maple Leaf Cement Factory Limited was incorporated in Pakistan on 13 April 1960 under the Companies Act, 1913 (now the Companies Ordinance, 1984) as a public company limited by shares. The principal activity of the Company is production and sale of cement. The Company is a subsidiary of Kohinoor Textile Mills Limited (“the Holding Company”).