AGP Limited profit increases by 12.56% for the half year ending June 30, 2018: Earnings Report

AGP Limited, a pharmaceutical company, in its Board of Directors meeting held on August 2^nd 2018, finalized its financial statements for the half-year ended June 30, 2018.

Compared to the half year ending June 30, 2017, the company’s sales increased by 22.34% while its cost of sales increased by 37.03%, leading to growth in the gross profit of about 12.53%.

While administrative expenses remained about the same as last year, its marketing and selling expenses jumped by 24.53% while other expenses similarly witnessed an increase of 36.9%.

Other income, however, fell by 31.91%, which combined with the increase in its cost of sales, lead to an operating profit growth of just 4.49% despite the significant sales growth.

The company’s finance costs however fell by a noteworthy 94.77%, leading to its profit before taxation growing by 17.59%. Net profit after taxation however grew by 12.12% owing to the 59.89% increase in the company’s taxation over the year.

The company declared an Earning per share of Rs 2.24, 12.56% less than the Rs 2.15 EPS a year ago.