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

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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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