ACPL to report an EPS of PKR 3.04 in 3QFY19
Attock Cement Pakistan Limited (ACPL) is scheduled to announce its 3QFY19 result on Thursday, April 11, 2019. We expect the company to post earnings of PKR 418 million (EPS: PKR 3.04) in 3QFY19, reporting a decline of 48% YoY despite 23% YoY growth in total dispatches. We expect gross margin for the quarter to decline to 26% due to decline in export price. We anticipate selling expenses to increase 2.2x times compared to SPLY due to significant rise in export dispatches while finance cost will remain 2.7X times higher than that reported in the SPLY due hike in interest rate and increase in long term borrowings. Other than this, we do not expect ACPL to announce interim dividend.
Attock Cement Pakistan Ltd. Attock Cement Pakistan Limited is principally engaged in manufacturing and sale of cement. The Company is also engaged in exporting clinker and cement both in bags and bulk to the United Arab Emirates (UAE), South Africa, Iraq, Sri Lanka and many other countries. The Company also has the facility of supply of cement in bulk and also produces the low alkali cement for some of its market. Its products include Ordinary Portland Cement (OPC), which is a product under the Falcon Brand used in all types of general construction. OPC can be used in concretes, mortars, grouts and premix concrete. It also offers Sulfate Resistant Cement (SRC), which is sold under falcon Brand and is used in sea and coastal areas and provides resistance to chemical attack from sulfates and dissolved salts present in sea and saline waters. The Company's Falcon Block Cement product is offered for block and precast slab makers.
Ismail Iqbal Securities (Private) Limited (IISPL) is a TREC holder of the Pakistan Stock Exchange, as well as an SECP registered Underwriter and Book Runner. IISPL provides comprehensive financial services including Equity Sales, Research on Equities and the Macro-Economy, Investment Advisory, Portfolio Management, Corporate Finance, and extensive services for Private Equity investors. IISPL services a diversified client base, from Institutional to Retail Investors including High Net worth Individuals.
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