February 21, 2020 (MLN): Engro Corporation Limited (ENGRO) has declared net profits of Rs. 30.2 billion (EPS: Rs. 28.69) for the year ended December 31, 2019, which is nearly 28.17% lower than the figures reported last year.
The company also announced a Final Cash Dividend for the year at Rs. 1 per share i.e. 10%. This is in addition to Interim Dividends already paid at Rs. 23 per share i.e. 230%.
The topline earnings of the company saw a growth of 31.6% owing to the benefits emanating from the Thar energy projects.
Furthermore, a rise in the profitability of Engro Fertilizers and Engro Powergen, combined with a reduction in the losses of FrieslandCampine Engro Pakistan, provided further impetus to the company’s net earnings.
Financial Results for the Year Ended December 31, 2019 ('000 Rupees) |
|||
---|---|---|---|
Dec-19 |
Dec-18 |
% Change |
|
Revenue |
225,919,576 |
171,568,238 |
31.68% |
Cost of Sales |
(157,233,488) |
(120,459,766) |
30.53% |
Gross Profit |
68,686,088 |
51,108,472 |
34.39% |
Selling and distribution expenses |
(8,103,286) |
(8,488,256) |
-4.54% |
Administrative expenses |
(6,156,325) |
(4,497,302) |
36.89% |
Other income |
13,663,434 |
9,147,368 |
49.37% |
Other operating expenses |
(8,477,620) |
(5,518,656) |
53.62% |
Operating profit |
59,612,291 |
41,751,626 |
42.78% |
Finance cost |
(14,750,272) |
(5,453,221) |
170.49% |
Share of income from joint ventures & associates |
1,147,999 |
128,647 |
792.36% |
Profit before taxation |
46,010,018 |
36,427,052 |
26.31% |
Taxation |
(15,721,927) |
(12,795,319) |
22.87% |
Profit after taxation |
30,288,091 |
23,631,733 |
28.17% |
Earnings per share – basic and diluted (Rupees) |
28.69 |
22.06 |
30.05% |
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