Dawood Hercules reports a 42% growth in earnings during 2020

MG News | March 02, 2021 at 10:47 AM GMT+05:00

0:00

March 2, 2021 (MLN): Dawood Hercules Corporation Limited has reported earnings of Rs. 42.63 billion for the year ended December 31, 2020, i.e. nearly 42% higher as compared to the earnings of last year.

The Earnings per share for the year stood at Rs. 15.76, which is 34% higher as compared to the EPS of Rs. 11.75 reported last year.

The company saw a 10.27% improvement in net sales and a 10% increase in cost of sales, both of which resulted in a 10.9% growth in gross profit. Further relief was drawn from a 16% increase in other income and a 26.3% decline in non-core expenses.

While the company experienced a loss allowance on subsidy receivable from GoP amounting to Rs. 1.2 billion, this was somewhat compensated for by a 143% increase in share of income from associates.

DAWH also benefitted from a 39.7% decline in income tax expense.

Financial Results for the year ended December 31, 2020 (Rupees '000')
	Dec-20	Dec-19	% Change
Net sales	248,950,089	225,765,492	10.27%
Cost of sales	(172,869,310)	(157,166,837)	9.99%
Gross profit	76,080,779	68,598,655	10.91%
Selling and distribution expenses	(7,845,069)	(8,103,286)	-3.19%
Administrative expenses	(9,341,513)	(7,671,345)	21.77%
Other income	19,347,249	16,671,711	16.05%
Other operating expenses	(5,447,523)	(7,399,718)	-26.38%
Finance costs	(21,492,621)	(16,175,545)	32.87%
Loss allowance on subsidy receivable from GoP	(1,238,912)
Share of income from associates and Joint ventures	2,796,374	1,147,999	143.59%
Profit before taxation	52,858,764	47,068,471	12.30%
Taxation	(10,228,523)	(16,981,645)	-39.77%
Profits for the period	42,630,241	30,086,826	41.69%
Basic and diluted earnings per share	15.76	11.75	34.13%

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	161,687.18 521.41M	-0.15% -248.01
ALLSHR	98,075.27 1,212.38M	0.09% 85.63
KSE30	48,950.98 123.60M	-0.27% -132.15
KMI30	230,724.42 106.87M	-0.37% -866.15
KMIALLSHR	63,750.70 842.75M	0.03% 20.32
BKTi	44,377.56 31.96M	-0.30% -133.71
OGTi	31,123.97 14.36M	-0.34% -105.13

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	95,095.00	96,100.00 92,975.00	730.00 0.77%
BRENT CRUDE	64.61	64.62 63.67	0.22 0.34%
RICHARDS BAY COAL MONTHLY	85.00	0.00 0.00	-0.25 -0.29%
ROTTERDAM COAL MONTHLY	96.45	0.00 0.00	0.30 0.31%
USD RBD PALM OLEIN	1,082.50	1,082.50 1,082.50	0.00 0.00%
CRUDE OIL - WTI	60.34	60.35 59.32	0.25 0.42%
SUGAR #11 WORLD	14.80	14.94 14.65	-0.16 -1.07%