Earning Review: Philip Morris Pakistan incurs losses due to closure of its Kotri factory

11:04
August 22, 2019
MG

August 22, 2019 (MLN): Philip Morris Pakistan Limited (PMPK) has observed losses of Rs.591.5 million for the half year ended June 30, 2019, as compared to profits of Rs. 724 million (EPS: Rs 4.62) earned in the same period last year.

The losses were incurred mainly due to the management decision to reorganize its operational footprint by closing its factory in Kotri.

Moreover, during the period under review, the company observed a massive growth in its other expenses from Rs 251 million to Rs 2.6 billion after which the company found itself to face with pre-tax losses of Rs 549.8 million.

However, the company enjoyed a tax reversal worth Rs.234.6 million which was not enough to keep the company’s earnings from going into the negative zone.

The company reported its Loss per share (LPS) at Rs 9.69 for the period mentioned above.

Financial Results for the half year ended June 30, 2019 ('000 Rupees)
	Jun-19	Jun-18	% Change
Turnover – net	9,519,537	7,654,337	24.37%
Cost of sales	5,778,394	4,163,808	38.78%
Gross profit	3,741,143	3,490,529	7.18%
Distribution and marketing expenses	1,236,783	1,682,379	-26.49%
Administrative expenses	683,209	658,600	3.74%
Other expenses	2,598,673	251,254	934.28%
Other income	260,263	111,521	133.38%
Operating profit	(517,259)	1,009,817
Finance cost and bank charges	32,582	9,299	250.38%
Profit before taxation	(549,841)	1,000,518
Taxation	41,752	276,378	-84.89%
Profit after taxation	(591,593)	724,140
Earnings per share – basic and diluted (Rupees)	(9.69)	4.62

Copyright Mettis Link News

Posted on: 2019-08-22T16:04:00+05:00

29547

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FOREX

PairID	Symbol	Bid	Ask	High	Low	Update
1	PKR	286.80000	286.95000	286.95000	286.80000	03:05 PM
2	EUR	1.07818	1.07819	1.07819	1.07818	10:38 PM
3	GBP	1.25554	1.25561	1.25561	1.25554	10:38 PM
4	CHF	0.89993	0.90003	0.90003	0.89993	10:38 PM
5	JPY	138.94500	138.95500	138.95500	138.94500	10:38 PM
6	CAD	1.33507	1.33513	1.33513	1.33507	10:38 PM
7	AUD	0.67138	0.67143	0.67143	0.67138	10:38 PM
8	INR	82.49990	82.50640	82.50640	82.49990	10:38 PM
9	SAR	3.75030	3.75050	3.75050	3.75030	07:37 AM
10	AED	3.67230	3.67330	3.67330	3.67230	07:01 AM
11	HKD	7.83690	7.83700	7.83700	7.83690	10:38 PM
12	CNH	7.12172	7.12191	7.12191	7.12172	10:38 PM
13	CNY	7.11130	7.11330	7.11330	7.11130	10:38 PM
14	THB	34.62000	34.64000	34.64000	34.62000	10:37 PM
15	MYR	4.61700	4.62000	4.62000	4.61700	04:44 PM
16	IDR	14,832.00000	14,834.70000	14,834.70000	14,832.00000	10:38 PM
17	SGD	1.34291	1.34306	1.34306	1.34291	10:38 PM
18	NZD	0.60951	0.60957	0.60957	0.60951	10:38 PM
19	MXN	17.38680	17.39180	17.39180	17.38680	10:38 PM
20	TRY	23.35180	23.36180	23.36180	23.35180	10:38 PM
21	SEK	10.79870	10.80140	10.80142	10.79866	10:38 PM
22	ZAR	18.82810	18.85810	18.85810	18.82810	10:38 PM
23	NOK	10.88340	10.88850	10.88853	10.88344	10:38 PM
24	DKK	6.91035	6.91085	6.91085	6.91035	10:38 PM
25	ARS	244.38300	244.39200	244.39162	244.38327	10:38 PM
26	BDT	106.57100	109.92600	109.92605	106.57124	04:19 PM
27	BHD	0.37697	0.37702	0.37702	0.37697	02:08 AM
28	BRL	4.92240	4.92540	4.92540	4.92240	10:37 PM
29	KRW	1,297.04000	1,297.56000	1,297.56000	1,297.04000	10:38 PM
30	KWD	0.30719	0.30779	0.30779	0.30719	04:40 AM
31	LKR	292.23200	298.75500	298.75546	292.23221	04:19 PM
32	OMR	0.38493	0.38508	0.38508	0.38493	04:31 AM
33	QAR	3.64000	3.64790	3.64790	3.64000	06:46 AM
34	RUB	81.97500	82.04500	82.04500	81.97500	08:26 PM
35	AFN	85.23410	87.09790	87.09793	85.23408	04:19 PM
36	AZN	1.70000	1.70000	1.70000	1.70000	02:18 PM
37	TMT	3.36000	3.66000	3.66000	3.36000	05:00 AM
38	MVR	15.25000	15.45000	15.45000	15.25000	05:00 AM
39	UZS	11,401.70000	11,466.90000	11,466.93878	11,401.70630	04:19 PM
40	PHP	55.98000	56.03500	56.03500	55.98000	10:38 PM
42	NGN	461.67000	462.67000	462.67000	461.67000	06:16 PM
43	KES	138.25000	140.25000	140.25000	138.25000	06:08 PM
44	AMD	387.04000	387.04000	387.04000	387.04000	04:52 PM
45	TWD	30.70430	30.73430	30.73430	30.70430	10:38 PM
46	XAU	1,962.37000	1,962.63000	1,962.63000	1,962.37000	10:37 PM
47	XAG	24.24820	24.25680	24.25680	24.24820	10:37 PM
48	XPT	1,082.51000	1,092.00000	1,092.00000	1,082.51000	05:00 AM
49	XPD	1,705.23000	1,721.11000	1,721.11000	1,705.23000	05:00 AM
2,120	VES	26.63700	26.70380	26.70383	26.63704	04:35 PM

Data is delayed by 20 minutes

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Name	High	Current	Low	Change	% Change	Volume	Value	Direction	DateTime
KSE100	42,307.12	41,686.461	41,648.84	-456.253	-1.083	101,054,090.0	4,809,918,735.170	1	08/06/2023 04:14 PM
ALLSHR	28,439.15	28,124.441	28,099.66	-148.219	-0.524	203,770,733.0	5,848,646,509.570	1	08/06/2023 04:14 PM
KSE30	14,978.34	14,742.364	14,723.06	-200.888	-1.344	83,816,401.0	3,784,785,834.820	1	08/06/2023 04:14 PM
KMI30	73,115.85	71,930.194	71,849.63	-932.150	-1.279	87,784,906.0	3,440,558,598.240	1	08/06/2023 04:14 PM
KMIALLSHR	20,759.65	20,571.461	20,553.40	-25.494	-0.124	153,181,204.0	4,953,677,141.560	1	08/06/2023 04:14 PM
BKTi	9,226.18	9,044.260	9,034.60	-149.419	-1.625	4,568,041.0	248,596,458.100	-1	08/06/2023 04:14 PM
OGTi	10,996.06	10,729.934	10,710.93	-166.123	-1.525	8,577,222.0	1,100,273,165.330	1	08/06/2023 04:14 PM

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