Earnings Report: Avanceon Ltd. (PSX: AVN) today reported Financial Results for the Three and Six months ended June 30, 2017

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Avanceon Ltd. announced Financial Results for the period ended June 30, 2017.

The company’s Sales for the period increased by 20.78percent in the outgoing year, whereas the Profit after Taxation for the Period increased by 40 percent.

The board did not recommend any interim Cash Dividend, any 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

Common Size 2017

 

Amounts in PKR ‘000

 

Sales

383,241

317,313

20.78%

100%

Cost of Sales

241,568

168,064

43.74%

63%

Gross Profit/(Loss)

168,673

149,249

13.01%

44%

Admin: and Selling Expenses

79,582

61,821

28.73%

21%

Other Operating Expenses

2,047

3,072

-33.37%

1%

Other Operating Income

91,281

83,218

9.69%

24%

Profit/(Loss) from operations

178,324

167,574

6.42%

47%

Finance costs

11,486

7,960

44.30%

3%

Profit/(loss) before Tax

166,838

159,614

4.53%

44%

Taxation

15,008

17,451

-14.00%

4%

Profit/(loss) for the period from operations

151,830

142,163

6.80%

40%

EPS – Basic

1.15

1.08

6.48%

 

EPS – Diluted

1.10

1.03

6.80%

 

 

Company release on Earnings Report can be accessed here.

Posted on: 2017-08-25T11:39:00+05:00

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