AGP Ltd's profits increase slightly by 9.8%
MG News | August 06, 2019 at 11:44 AM GMT+05:00
August 6, 2019 (MLN): AGP Limited has announced its financial results for the year ended on June 30th 2019 as per which the company has reported its profits after tax increased by 9.85% to Rs 743 million with earnings per share (EPS) recorded at Rs 2.65 compared to last year profits of Rs 676.5 million (EPS: Rs 2.42).
The increase in profits are mainly attributable to rise in top-line earnings as it rose by 10.2% to Rs 3.15 billiion from Rs2.8 billion. However, the company also witnessed an increase in its overall expenses but the company managed to earn profits on the back of higher revenues.
During the period, company’s administrative and marketing expenses surged by 48% and 14% respectively while other expenses increased by 26.6%. In addition, finance cost also increased by 13.8%.
Moreover, the Board of Directors of the company announced an interim Cash dividend of Rs 1.25 per share i.e. 12.5% for the aforesaid period.
| Profit and Loss Account for the Half Year Ended on June 30th 2019 ('000 Rupees) | |||
|---|---|---|---|
|
| Jun-19 | Jun-18 | %Change |
| Revenue-net | 3,159,327 | 2,866,290 | 10.22% |
| Cost of Sales | (1,322,628) | (1,285,495) | 2.89% |
| Gross profit | 1,836,699 | 1,580,795 | 16.19% |
| Administrative expenses | (76,537) | (51,682) | 48.09% |
| Marketing and selling expenses | (642,611) | (563,114) | 14.12% |
| Other expenses | (99,620) | (78,688) | 26.60% |
| Other income | 4,097 | 8,246 | -50.32% |
| Operating profit | 1,022,028 | 895,557 | 14.12% |
| Finance costs | (107,191) | (94,183) | 13.81% |
| Profit before taxation | 914,837 | 801,374 | 14.16% |
| Taxation | (171,742) | (124,891) | 37.51% |
| Net profit for the period | 743,095 | 676,483 | 9.85% |
| Earnings per share (EPS) – basic | 2.65 | 2.42 | 9.50% |
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