Dawood Hercules reports a 42% growth in earnings during 2020
MG News | March 02, 2021 at 10:47 AM GMT+05:00
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 | 165,823.88 448.99M | -1.54% -2588.35 |
| ALLSHR | 99,160.90 1,085.27M | -1.67% -1680.26 |
| KSE30 | 50,101.96 142.26M | -1.74% -888.53 |
| KMI30 | 238,681.37 216.35M | -1.30% -3152.79 |
| KMIALLSHR | 64,435.58 615.36M | -1.35% -884.80 |
| BKTi | 46,165.92 56.22M | -2.48% -1174.89 |
| OGTi | 34,125.34 9.28M | -2.33% -814.62 |
| Symbol | Bid/Ask | High/Low |
|---|
| Name | Last | High/Low | Chg/%Chg |
|---|---|---|---|
| BITCOIN FUTURES | 76,495.00 | 78,325.00 76,350.00 | -165.00 -0.22% |
| BRENT CRUDE | 117.46 | 117.77 110.26 | 6.20 5.57% |
| RICHARDS BAY COAL MONTHLY | 113.00 | 113.00 109.00 | 4.25 3.91% |
| ROTTERDAM COAL MONTHLY | 110.20 | 110.20 105.00 | 5.55 5.30% |
| USD RBD PALM OLEIN | 1,191.50 | 1,191.50 1,191.50 | 0.00 0.00% |
| CRUDE OIL - WTI | 105.05 | 105.47 98.42 | 5.12 5.12% |
| SUGAR #11 WORLD | 14.66 | 14.68 14.25 | 0.43 3.02% |
Chart of the Day
Latest News
Top 5 things to watch in this week
Monetary Aggregates (M3) - Monthly Profile
Pakistan Stock Movers
| Name | Last | Chg/%Chg |
|---|
| Name | Last | Chg/%Chg |
|---|