Colgate earns Rs9.7bn in half year
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MG News | January 27, 2025 at 11:08 AM GMT+05:00
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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