BBFL reports 26% rise in profit, reaching Rs573mn in 1HFY25

MG News | February 06, 2025 at 04:57 PM GMT+05:00

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February 06, 2025 (MLN): Big Bird Foods Limited (PSX: BBFL) has reported a significant 26.24% increase in its profit after tax, reaching Rs573.34 million for the period ending December 31, 2024, compared to Rs454.16mn in the same period last year.

The company's earnings per share (EPS) also rose from Rs1.52 to Rs1.92.

The company saw a 23.41% increase in net sales, totaling Rs4.79 billion, up from Rs3.88bn in 2023.

The cost of sales also rose by 22.7%, amounting to Rs3.75bn, but BBFL's gross profit surged by 26.04% to Rs1.04bn, compared to Rs827.03mn last year.

Expenses related to distribution and selling increased by 21.94% to Rs119.64mn, while administration expenses saw a rise of 15.03%, totaling Rs94.13mn.

Other expenses decreased by 28.93%, totaling Rs46.52mn, contributing to the company's improved profitability.

BBFL's operating profit grew by 31.65%, from Rs621.38mn in 2023 to Rs818.05mn this year.

Despite a slight 0.82% increase in finance costs, the company maintained strong profitability, with finance costs standing at Rs190.33mn.

The tax expense saw a sharp change, with the company reporting a tax provision of -Rs54.38mn in 2024, compared to a tax credit of Rs21.55mn last year.

Condensed Interim Statement of Profit and Loss (unaudited) for Half year ended (Rupees)	31-Dec-24	31-Dec-23	%Change
Sales - net	4,793,109,626	3,883,754,175	23.41%
Cost of sales	(3,750,723,912)	(3,056,728,655)	22.70%
Gross Profit	1,042,385,714	827,025,520	26.04%
Distribution and selling expenses	(119,643,598)	(98,119,001)	21.94%
Administration expenses	(94,132,112)	(81,833,934)	15.03%
Other expenses	(46,522,744)	(65,457,477)	-28.93%
Other income	35,962,443	39,766,859	-9.57%
Profit from operations	818,049,703	621,381,967	31.65%
Finance cost	(190,329,760)	(188,772,998)	0.82%
Profit before income tax	627,719,943	432,608,969	45.10%
Taxation	(54,375,853)	21,550,849
Profit after taxation	573,344,090	454,159,818	26.24%
Earning per share (EPS)	1.92	1.52

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