Archoma Pakistan Ltd.’s profits down by 5.25%
By MG News | October 30, 2018 at 02:17 PM GMT+05:00
October 30, 2018 (MLN): Archroma Pakistan Limited (ARPL)’s profits for the nine months ended September 30th 2018 have dropped by 5.25 % as a result of mounting overall expenses particularly distribution and marketing cost as compared to same period last year.
As per the financial results announced by the company, Distribution and marketing expenses increased by 7.7% (Rs65.3 million), administrative expenses increased by 1.64% (Rs8 million), other expenses increased by 5.94% (Rs10.6 million), while, finance cost surged by a large magnitude of 217.3% (Rs294.4 million).
Even though, company received a tax-cut of about 34.13%, but the impact failed to pull the profits of the company upward.
Apart from this, the earnings per share of the company reported a decline from Rs47.53 per share to Rs45.03 per share.
The Board of Directors of the company announced a cash dividend of 400% i.e. Rs40 per share.
| Financial Results for the Nine Months Ended September 30, 2018 ('000 Rupees) | |||
|---|---|---|---|
|
| Sep-18 | Sep-17 | % Change |
| Net sales | 14,290,089 | 12,242,715 | 16.72% |
| Cost of goods sold | (10,345,397) | (8,377,749) | 23.49% |
| Gross profit | 3,944,692 | 3,864,966 | 2.06% |
| Distribution and marketing expenses | (906,629) | (841,291) | 7.77% |
| Administrative expenses | (498,733) | (490,662) | 1.64% |
| Other expenses | (189,219) | (178,610) | 5.94% |
| Other income | 23,808 | 21,464 | 10.92% |
| Finance cost | (429,939) | (135,483) | 217.34% |
| Profit before taxation | 1,943,980 | 2,240,384 | -13.23% |
| Taxation - net | 407,704 | 618,911 | -34.13% |
| Profit for the year | 1,536,276 | 1,621,473 | -5.25% |
| Earnings per share - basic and diluted (Rupees) | 45.03 | 47.53 | -5.26% |
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