Avanceon Ltd. profit for 9MFY18 rises 45.09% to Rs. 329 million
By MG News | October 26, 2017 at 12:34 PM GMT+05:00
- 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
| 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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