Colgate earns Rs9.7bn in half year

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MG News | January 27, 2025 at 11:08 AM GMT+05:00

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January 27, 2025 (MLN): Colgate Palmolive (Pakistan) Limited (PSX: COLG) earned a net profit of Rs9.7 billion [EPS: Rs39.94] during the half year ending December 2024, up 31.5% from the profit of Rs7.4bn [EPS: Rs30.36] in the same period last year (SPLY).

The company will pay an interim cash dividend of Rs32 per share for the year ending June 30, 2025, representing a 320% payout based on a par value of Rs10 per share.

The company's revenue increased by 7.2% to Rs77bn as compared to Rs72bn in SPLY.

Moreover, the cost of sales fell by 3.4%, improving the gross profit by 25.4% to Rs20.6bn in Q1 FY25.

The gross margins rose to 35.58% as compared to 29.84% in SPLY.

During the period under review, other income also rose 4.1% to stand at Rs2.52bn in Q1 FY25 as compared to Rs2.42bn in SPLY.

On the expense side, the company's administrative expenses rose 18.0% from a year ago to Rs676.89m, selling and distribution expenses rose 12.8% to Rs6.19bn, and other expenses rose 18.5% to Rs1.01bn.

The company’s finance cost deflated by 7.5% and stood at Rs44.5m as compared to Rs48.1m in SPLY, mainly due to higher interest rates.

 On the tax front, the company paid a tax expense worth Rs5.47bn against Rs4.08bn paid in the corresponding period of last year.

This translates to an effective tax rate of 56.38% as compared to 55.37% in SPLY.

 Profit and Loss Account - For the Year Ended December 31th 2024 (Rs'000)
  Dec-24 Dec-23 % Change
Turnover   77,751,132    72,488,591 7.2%
Sales Tax  (12,937,525)  (11,965,685) 8.1%
Trade and other discounts (6,894,515) (5,451,387) 26.5%
Net turnover 57,919,092 55,071,519 5.2%
Cost of Sales (37,310,820)  (38,637,239) -3.4%
Gross profit 20,608,272 16,434,280 25.4%
Selling and distribution costs (6,190,622)  (5,489,116) 12.8%
Administrative Expenses (676,882) (573,448) 18.0%
Other expenses (1,008,876)  (851,273) 18.5%
Other income 2,517,780   2,418,033 4.1%
Profit from operations 15,249,672 11,938,476 27.7%
Finance cost and bank charges (86,160) (86773) -0.7%
Profit before taxation 15,163512  11,851,703 27.9%
Taxation (5,467,032) (4,081,220) 34.0%
Profit after taxation 9,696,467 7,371,445 31.5%
Earning per share -Basic and Diluted 39.94 30.36 31.6%

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