Akzo Nobel announced Financial Results for the period ended June 30, 2017.
The company’s Net Sales for the period increased by 11.21 percent in the outgoing year, whereas the Profit after Taxation for the Period increased by 14 percent.
The board did not recommend any interim Cash Dividend, bonus or right shares.
Comparison of Key Financials
Unconsolidated Profit and Loss Account – For the Six Months Ended
Key Financials
Jan – June, 2017
Jan – Jun, 2016
% Change
Amounts in PKR ‘000
Turnover
4,404,144
3,947,568
11.57%
Sales tax, excise duty and discounts
1,476,832
1,315,230
12.29%
Net Sales
2,927,312
2,632,338
11.21%
Cost of Sales
1,757,229
1,496,093
17.45%
Gross Profit
1,170,083
1,136,245
2.98%
Selling & Dist: Expenses
577,099
598,704
-3.61%
Admin and General Expenses
163,794
160,287
2.19%
Operating Results
429,190
377,254
13.77%
Finance cost
640
3,580
-82.12%
Other charges
34,632
31,837
8.78%
Other income
58,902
84,410
-30.22%
Profit before taxation
452,820
426,247
6.23%
Taxation
157,673
167,241
-5.72%
Profit after taxation
295,147
259,006
13.95%
EPS – Basic & diluted
6.36
5.58
13.98%
Company release on Earnings Report can be accessed here.