Al Shaheer Corporation today released financial statements for the half year ending December 31st, 2017 in which it has reported a decrease of 9.17% in Turnover and a 2.02% decrease in bottom-line profits.
Al Shaheer Corporation have also reported a 472.22% jump in other income adding Rs. 45.606 million to bottom-line during the half year.
Furthermore, company net loss after taxation clocked in at Rs. 34.262 million dropping by 2.02% during the period under review.
Company’s distributable loss per share clocked in at Rs. (0.24) per share against Rs. (0.03) per share last year.
Comparison of Key Financials
Unconsolidated Profit and Loss Account – For the Half Year Ended, December 31st 2017
Key Financials
2017
2016
% Change
Amounts in PKR ‘000
Turnover
2,774,811
3,054,821
-9.17%
Cost of Sales
2,078,621
2,312,420
-10.11%
Gross Profit
696,190
742,723
-6.27%
Administrative and Distribution Expenses
719,336
730,723
-1.56%
Other Expenses
216
4,321
-95.00%
Other Income
45,606
7,970
472.22%
Operating Profit
22,244
15,327
45.13%
Finance Costs
34,305
37,459
-8.42%
(Loss)/Profit before Taxation
12,061
22,132
-45.50%
Taxation
22,201
12,383
79.29%
Net (Loss)/Profit for the period
(34,262)
(34,970)
-2.02%
(Loss)/Earnings per share
(0.24)
(0.25)
-4.00%
Company release on Earnings Report can be accessed here.
