The company’s Net Sales for the period increased by 28 percent in the outgoing year, whereas the Profit after Taxation for the Period decreased by 5 percent from the previous year owing to an unprecedented surge in taxes incurred by the company. Taxation costs for the year increased by 430 percent.
The board has recommended an interim Cash Dividend for the year ended June 30, 2017 at the rate of 23.5% i.e. Rs 2.35/- per share.
Comparison of Key Financials
Unconsolidated Profit and Loss Account – For the Six Months Ended |
|||
Key Financials |
2017 |
2016 |
% Change |
Amounts in PKR ‘000 |
|||
Sales – net |
3,656,723 |
2,846,147 |
28% |
Cost of Sales |
2,493,694 |
1,932,303 |
29% |
Gross Profit |
1,163,029 |
913,844 |
27% |
Selling and Distribution Cost |
101,031 |
71,522 |
41% |
Admin Expenses |
148,312 |
114,141 |
30% |
Operating Profit |
913,686 |
728,181 |
25% |
Other Operating Expenses |
54,786 |
51,875 |
6% |
Finance Cost |
87,723 |
124,995 |
-30% |
Other Income |
84,129 |
114,698 |
-27% |
Profit before Taxation |
855,306 |
666,009 |
28% |
Taxation |
273,313 |
51,566 |
430% |
Profit for the year |
581,993 |
614,443 |
-5% |
EPS – Basic and diluted |
5.84 |
6.16 |
-5% |
Company release on Earnings Report can be accessed here.