ASL today released financial statements for the period ending December 31st, 2017. The company reported a revenue of Rs. 9.510 billion against Rs. 6.393 billion last year. Furthermore, company’s Gross Margins also jumped 147.98% during the last year.
Company reported a negligent rise in administrative and selling cost during the period improving its bottom line profits.
Despite a marked increase in company’s taxes by 612.68%, Aisha Steel Mills profits during the period under review jumped by 45.66% to clock in at Rs, 801.399 million versus Rs. 550.181 million. Company management reported a diluted EPS of 0.96 during the period.
Comparison of Key Financials
Unconsolidated Profit and Loss Account – For the Half Year Ended, December 30th 2017
Key Financials
2017
2016
% Change
Amounts in PKR ‘000
Revenue
9,510,315
6,393,922
48.74%
Cost of Sales
7,667,747
5,650,886
35.69%
Gross Profit
1,842,568
743,036
147.98%
Selling and Distribution Cost
8,348
8,666
-3.67%
Administrative Expenses
89,379
85,033
5.11%
Other Expenses
87,350
12,368
606.26%
Other Income
16,785
17,180
-2.30%
Profit from Operations
1,674,276
654,149
155.95%
Finance Cost
495,689
488,774
1.41%
Profit before Taxation
1,178,587
165,375
612.68%
Taxation
377,188
384,806
-1.98%
Profit for the period
801,399
550,181
45.66%
Other Comprehensive Income
–
–
EPS – Basic
0.98
1.34
-26.87%
EPS – Diluted
0.96
0.74
29.73%
Company release on Earnings Report can be accessed here.