Colgate earns Rs9.7bn in half year

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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