February 19, 2021 (MLN): National Foods Limited has posted earnings of Rs. 944 million (EPS: 4.4) for the half-year ended December 31, 2020, i.e. nearly 83% higher as compared to the earnings of the same period last year.
The revenue of the company rose by around 17.2% whereas cost of sales increased by 17%, resulting in a 17% growth in gross profits. However, the impact of these positive changes was limited by increase in administrative expenses by 18%, non-core expenses by 14%, and a decline in other income by 59%.
Further strain was caused by an increase in finance costs by 4.3%, as well as income tax expense by 14.3%.
Consolidated Financial Results for the Half-Year ended December 31, 2020 (Rupees in '000) |
|||
---|---|---|---|
Dec-20 |
Dec-19 |
% Change |
|
Sales |
16,070,773 |
13,716,280 |
17.2% |
Cost of sales |
(11,510,870) |
(9,827,160) |
17.1% |
Gross profit |
4,559,903 |
3,889,120 |
17.2% |
Distribution expenses |
(2,436,638) |
(2,391,939) |
1.9% |
Impairment loss on trade debts |
12,700 |
||
Administrative expenses |
(721,542) |
(609,742) |
18.3% |
Other expenses |
(48,819) |
(42,948) |
13.7% |
Other income |
30,970 |
76,361 |
-59.4% |
Finance cost |
(159,573) |
(153,053) |
4.3% |
Profit before taxation |
1,224,301 |
780,499 |
56.9% |
Taxation |
(280,293) |
(245,273) |
14.3% |
Profit after tax |
944,008 |
535,226 |
76.4% |
Earnings per share |
4.4 |
2.4 |
83.3% |
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