Al-Abbas Sugar Mills performs exceptionally as its profits scale up by 800%
MG News | December 20, 2018 at 02:36 PM GMT+05:00
December 20, 2018 (MLN): Al-Abbas Sugar Mills Limited (AABS) has successfully scaled up its bottom-line earnings by 804%, as compared to the last year ended on September 30. The company has reported an overall profit of Rs.1.2 billion, while its EPS is noted at Rs.74.52 per share, exhibiting a growth of 795%.
The financial earnings report of the company shows that it earned considerably higher net revenue over the year, and reported gross profits Rs.2 billion i.e. 262% more than last year.
The company’s performance has shown remarkable performance as major expense heads like Finance cost and Administrative expenses showed a downward trend.
| Profit and loss account for the year ended September 30th 2018 (Rupees’000) | |||
|---|---|---|---|
|
| Sep-18 | Sep-17 | % Change |
| Sales - net | 7,494,077 | 5,327,415 | 40.67% |
| Cost of sales | -5,420,785 | -4,755,694 | 13.99% |
| Gross profit | 2,073,292 | 571,721 | 262.64% |
| Profit from other reportable segments -net | 53,018 | 48,526 | 9.26% |
| Distribution cost | -503,581 | -195,239 | 157.93% |
| Administrative expenses | -106,043 | -112,693 | -5.90% |
| Other operating expenses | -100,940 | -10,689 | 844.34% |
| Finance cost | -64,081 | -112,389 | -42.98% |
| Other income | 19,014 | 17,711 | 7.36% |
| Profit before taxation | 1,370,679 | 206,948 | 562.33% |
| Taxation | -76,899 | -63,972 | 20.21% |
| Profit after taxation | 1,293,780 | 142,976 | 804.89% |
| Earnings per share | 74.52 | 8.32 | 795.67% |
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