Cherat Packaging Limited’s annual profits improved slightly from Rs.702 million during the year ended June 30th 2017 to Rs.711 million during the year ended June 30th 2018, as a result of a major drop in tax provisions.
The company conducted its Board of Directors meeting on August 30, 2018 in order to review the financial earnings for the year and to provide a detailed comparison
Top-line earnings of Cherat Packaging rose by 10% while cost of sales increased by 15.5% leading to 12.6% drop in gross profits.
This led to 13.8% drop in operating profits while finance cost increased by twice the cost during the same period last year. Together, the two components resulted in 21.4% reduction in profits before taxation.
Since provision for taxation reduced by 80%, the overall profit for the period increased by 1.3%.
Moreover, earnings per share came down from Rs.22.81 per share to Rs.2.79 per share.
Profit and loss account for the year ended June 30th 2018 ('000 Rupees)
