Dawood Hercules' profits display impressive growth of 104%
By MG News | February 20, 2019 at 03:05 PM GMT+05:00
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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