COLG’s net income surges by 43.7% YoY

October 29, 2019 (MLN): Colgate Palmolive Pakistan Limited (COLG)’s overall financial performance for the quarter ended September 30th 2019  has remained pleasing as its net profits after tax surged significantly by 43.7% to Rs 1.15 billion against Rs 800.6 million reported in the corresponding period last year.

Net turnover of the Company grew by 20.3% on the back of the volume and selling price increases across all categories. The cost of sales also surged by around 22%, but the company somewhat managed to pass on the impact of increased costs to consumers, thus, the gross margins of the company underwent a marginal decline.

Media and promotional spending almost remained the same as compared to the same quarter last year, resulting in an increase of only  3.5% in selling and distribution costs. Whereas, Administrative expenses increased by 9.3% primarily due to employee-related cost.

As per the financial statement issued by the company, the earnings per share for the period reported at Rs 20 per share against Rs 13.9 per share last year.

Moreover, the Board of Directors of the company did not announce any cash dividend for the period stated above.

 

Profit and Loss Account – For the Quarter Ended September 30th 2019 (Rs'000)

 

Sep-19

Sep-18

% Change

Turnover

 13,506,462

 11,224,679

20.3%

Sales Tax

 (2,142,542)

 (1,781,276)

20.3%

Trade and other discounts

 (1,154,442)

 (959,358)

20.3%

Net turnover

 10,209,478

 8,484,045

20.3%

Cost of Sales

 (7,239,725)

 (5,938,952)

21.9%

Gross profit

 2,969,753

 2,545,093

16.7%

Selling and distribution costs

 (1,313,054)

 (1,269,047)

3.5%

Administrative Expenses

 (135,798)

 (124,244)

9.3%

Other expenses

 (129,004)

 (101,455)

27.2%

Other income

 238,824

 120,769

97.8%

Profit from operations

 1,630,721

 1,171,116

39.2%

Finance cost and bank charges

 (22,588)

 (8,809)

156.4%

Profit before taxation

 1,608,133

 1,162,307

38.4%

Taxation

 (457,374)

 (361,651)

26.5%

Profit after taxation

 1,150,759

 800,656

43.7%

Earnings per share -Basic and Diluted

 20

13.91

43.8%

 

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Posted on: 2019-10-29T11:56:00+05:00

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