Berger Paints reports 14.68% YoY profit growth in H1 FY24

February 07, 2025 (MLN): Berger Paints Pakistan Limited (PSX: BERG) posted a 14.68% year-on-year (YoY) increase in earnings for the half-year ended December 31, 2024, with profit after tax reaching Rs163.06 million, translating to earnings per share (EPS) of Rs6.64, compared to Rs144.82mn (EPS: Rs5.9) in the corresponding period last year.

The company’s revenue grew by 5.2% YoY to Rs4.62 billion from Rs4.39bn in the same period last year.

Despite a 3.3% increase in the cost of sales, gross profit improved by 12.9% to Rs963.83mn.

Selling and distribution expenses saw a notable surge of 28% YoY to Rs485.28mn, while administrative and general expenses rose by 9.7% YoY to Rs118.19mn.

On the other hand, other operating expenses declined significantly by 32.5% to Rs20.23mn, easing some cost pressures.

Profit from operations remained stable, showing a marginal increase of 1% YoY to Rs340.21mn.

However, other income declined by 6% to Rs40.50mn.

Meanwhile, finance costs decreased by 6.5% YoY to Rs128.89mn, reflecting improved financial management. Profit before taxation rose by 6.9% YoY to Rs251.82mn.

The company also saw a slight reduction in tax expenses, which declined by 2.3% YoY to Rs88.75mn.

This led to a net profit increase of 14.6% YoY.

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