Al-Ghazi Tractors' Profits for the half year ending on June 30th 2018 goes up by 16 percent: Earnings Report

By MG News | August 01, 2018 at 09:34 AM GMT+05:00

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Al-Ghazi Tractors Limited released a summary of their Board of Directors meeting, held on July 31^st 2018 in which the company discussed its financial earnings for the Year ending on June 30^th 2018.

In the report to PSX, as compared to the Year Ending on June 30^th 2017, Al-Ghazi tractors witnessed an increase of 32.5% in Sales and an increase of 18.5% in Gross Profits.

Other income of the company reduced significantly by 55%, while there was a major increase of 1030% in the Finance Cost.

The Company’s total Tax Payments went up by 13.7%.

There was an overall increment of 16.3% in Profit after Taxation for the period under consideration.

Earnings per share also increased by 16.3% as they increased from Rs.27.5 per share to Rs.31.99 per share.

Profit and Loss Account for the Half Year Ended June 30,2018 (Rupees '000)
	2018	2017	% Change
Sales	12,613,972	9,517,817	32.5%
Cost of goods sold	(9,322,950)	(6,739,957)	38.3%
Gross Profit	3,291,022	2,777,860	18.5%
Distribution cost	(153,436)	(123,134)	24.6%
Administrative expenses	(165,465)	(131,155)	26.2%
	2,972,121	2,523,571
Other income	35,049	78,093	-55.1%
Other operating expenses	(207,330)	(179,490)	15.5%
	2,799,840	2,422,174
Finance cost	(4,363)	(386)	1030.3%
Profit before taxation	2,795,477	2,421,788	15.4%
Taxation
- Current	(810,970)	(724,226)	12.0%
- Prior Year	(136,812)	(93,478)	46.4%
- Deferred	6,727	(9,863)	-168.2%
	(941,055)	(827,567)	13.7%
Profit after taxation	1,854,422	1,594,221	16.3%
Earnings per share - Basic and diluted (Rupees)	31.99	27.50	16.3%

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