Dawood Hercules' profits display impressive growth of 104%

MG News | February 20, 2019 at 03:05 PM GMT+05:00

0:00

February 20, 2019 (MLN): Dawood Hercules Corporation Limited has stated profits of Rs. 33 billion for the year ended December 31, 2018, approximately 104% higher than last year.

The massive growth in bottom-lines was a result of an equally impressive increase in company’s sales revenue by 33.42%, and non-core income by 96.54%.

The Earning per share (EPS) of the company stood at Rs. 29.6, around 311% higher than that of previous year.

The company also announced a final Cash Dividend at Rs. 4 per share i.e. 40%. This is in addition to Interim Dividends already paid at Rs. 6 per share i.e. 60%.

Profit and loss account for the year ended December 31 2018 (Rupees'000)
	Dec-18	Dec-17	% Change
Revenue	171,568,238	128,592,511	33.42%
Cost of revenue	-120,459,766	-93,786,270	28.44%
Gross Profit	51,108,472	34,806,241	46.84%
Selling and distribution expenses	-8,488,255	-7,850,236	8.13%
Administrative expenses	-6,604,715	-4,446,220	48.55%
Other income	21,984,273	11,185,463	96.54%
Other operating expenses	-4,427,332	-2,405,793	84.03%
Operating profit	53,572,442	31,289,455	71.22%
Finance cost	-6,336,224	-5,623,683	12.67%
Share of income from joint ventures & associates	128,647	2,689,331	-95.22%
Profit before taxation	47,364,865	28,355,103	67.04%
Taxation	-14,215,976	-12,107,942	17.41%
Profit for the year	33,148,889	16,247,161	104.03%
Earnings per share - basic and diluted	29.60	7.19	311.68%

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