Avanceon Ltd. profit for 9MFY18 rises 45.09% to Rs. 329 million

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MG News | October 26, 2017 at 12:34 PM GMT+05:00

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  • Avanceon Ltd. sales for the period increased by 20.44%, amounting to a total of 747 million Rupees during the nine months ended September, 30th 2017
  • Company’s Gross Profit increased by 18.75% to reach 326 million
  • The Profit after tax for the period increased by 45.09% reaching 329 million against last year’s profit of 226 million Rupees.
  • The company’s earnings per share – basic reached 2.49 rupees in the last nine months vs 2.4 in 2016
Comparison of Key Financials

Unconsolidated Profit and Loss Account - For the Nine Months Ended, September 30th 2017

Key Financials

2017

2016

% Change
 

Amounts in PKR ‘000

Sales

747,513

620,633

20.44%

Cost of Sales

420,685

345,403

21.80%

Gross Profit/(loss)

326,827

275,230

18.75%

Admin and Selling Expenses

103,939

96,436

7.78%

Other Operating Expenses

2,888

3,162

-8.67%

Other operating income

122,013

83,422

46.26%

Profit/(loss) from Operations

342,015

259,053

32.03%

Finance Costs

21,664

12,900

67.94%

Profit/(Loss) before tax

320,350

246,154

30.14%

Taxation

8,880

19,238

-53.84%

Profit/(Loss) for the year from operations

329,230

226,916

45.09%

EPS - Basic

2.49

2.15

15.81%

EPS - Diluted

2.40

2.05

17.07%

Company release on Earnings Report can be accessed here.

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