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

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

29547

FOREX

EQUITY

COMMODITIES

FOREX

PairID	Symbol	Bid	Ask	High	Low	Update
1	PKR	260.00000	262.00000	262.00000	260.00000	02:21 PM
2	EUR	1.08710	1.08740	1.08740	1.08710	09:57 AM
3	GBP	1.23810	1.23830	1.23830	1.23810	09:57 AM
4	CHF	0.92214	0.92262	0.92262	0.92214	09:57 AM
5	JPY	129.87000	129.88000	129.88000	129.87000	09:57 AM
6	CAD	1.33360	1.33410	1.33410	1.33360	09:57 AM
7	AUD	0.71490	0.71530	0.71530	0.71490	09:57 AM
8	INR	81.50800	81.52300	81.52300	81.50800	09:57 AM
9	SAR	3.74904	3.75824	3.75824	3.74904	09:57 AM
10	AED	3.67190	3.67390	3.67390	3.67190	09:57 AM
11	HKD	7.83000	7.83050	7.83050	7.83000	09:57 AM
12	CNH	6.75566	6.75574	6.75574	6.75566	09:57 AM
13	CNY	6.78240	6.78440	6.78440	6.78240	09:57 AM
14	THB	32.75900	32.80900	32.80900	32.75900	09:57 AM
15	MYR	4.24150	4.24650	4.24650	4.24150	09:57 AM
16	IDR	14,970.40000	14,975.20000	14,975.20000	14,970.40000	09:57 AM
17	SGD	1.31300	1.31400	1.31400	1.31300	09:57 AM
18	NZD	0.64880	0.64960	0.64960	0.64880	09:57 AM
19	MXN	18.76340	18.79340	18.79340	18.76340	09:57 AM
20	TRY	18.80900	18.81300	18.81300	18.80900	09:57 AM
21	SEK	10.30350	10.31250	10.31250	10.30350	09:57 AM
22	ZAR	17.18830	17.21810	17.21809	17.18827	09:57 AM
23	NOK	9.74041	9.89350	9.89350	9.74041	09:57 AM
24	DKK	6.84290	6.84390	6.84390	6.84290	09:57 AM
25	ARS	185.53900	185.54700	185.54734	185.53906	09:57 AM
26	BDT	104.39700	107.70800	107.70755	104.39674	09:57 AM
27	BHD	0.37412	0.37964	0.37964	0.37412	09:57 AM
28	BRL	5.10720	5.11120	5.11120	5.10720	09:57 AM
29	KRW	1,228.95000	1,231.15000	1,231.15000	1,228.95000	09:57 AM
30	KWD	0.30476	0.30576	0.30576	0.30476	09:57 AM
31	LKR	360.96000	367.39800	367.39799	360.96032	09:57 AM
32	OMR	0.38348	0.38624	0.38624	0.38348	09:57 AM
33	QAR	3.63950	3.64250	3.64250	3.63950	09:57 AM
34	RUB	70.69250	70.76250	70.76250	70.69250	09:57 AM
35	AFN	88.21450	90.05380	90.05380	88.21447	09:57 AM
36	AZN	1.70000	1.70000	1.70000	1.70000	09:57 AM
37	TMT	3.36000	3.66000	3.66000	3.36000	09:57 AM
38	MVR	15.26000	15.46000	15.46000	15.26000	09:57 AM
39	UZS	11,308.30000	11,372.70000	11,372.72267	11,308.34598	09:57 AM
40	PHP	54.39000	54.59000	54.59000	54.39000	09:57 AM
42	NGN	459.78000	460.78000	460.78000	459.78000	09:57 AM
43	KES	123.08200	125.84100	125.84071	123.08171	09:57 AM
44	AMD	368.30800	423.48800	423.48830	368.30827	09:57 AM
45	TWD	30.25600	30.25700	30.25700	30.25600	09:57 AM
46	XAU	1,927.72000	1,928.21000	1,928.21000	1,927.72000	09:57 AM
47	XAG	23.59020	23.61080	23.61080	23.59020	09:57 AM
48	XPT	1,082.51000	1,092.00000	1,092.00000	1,082.51000	09:57 AM
49	XPD	1,705.23000	1,721.11000	1,721.11000	1,705.23000	09:57 AM
2,120	VES	21.67280	21.72710	21.72710	21.67278	09:57 AM

Data is delayed by 20 minutes

EQUITY

Name	High	Current	Low	Change	% Change	Volume	Value	DateTime
KSE100	41,095.56	40,450.530	40,402.72	-396.000	-0.970	112,883,091.0	6,291,721,773.540	27/01/2023 05:14 PM
ALLSHR	27,283.45	26,921.400	26,891.73	-265.000	-0.975	188,851,163.0	7,098,395,331.620	27/01/2023 05:15 PM
KSE30	15,330.58	15,109.930	15,073.40	-101.670	-0.668	69,979,065.0	5,432,424,169.170	27/01/2023 05:14 PM
KMI30	70,029.66	68,732.250	68,581.49	-1,041.310	-1.492	65,343,637.0	3,918,260,679.850	27/01/2023 05:14 PM
KMIALLSHR	19,767.25	19,501.730	19,468.73	-214.810	-1.090	120,496,953.0	4,752,804,583.750	27/01/2023 05:14 PM
BKTi	9,632.09	9,403.860	9,375.97	-27.930	-0.296	16,105,753.0	917,545,504.970	27/01/2023 05:14 PM
OGTi	11,492.86	11,452.870	11,328.03	-2.110	-0.018	9,664,621.0	1,104,210,833.420	27/01/2023 05:11 PM

Data is delayed by 20 minutes

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Name	Symbol	ExchangeCode	Last	High	Low	Change	UpdateDate	CreateDate
BITCOIN FUTURES	BTC	CME	23,355.0	23,380.0	22,765.0	20.00	27/01/2023 10:00 PM	29/01/2023 09:58 AM
BRENT CRUDE	EB	ICEEC	86.8	89.0	86.4	-0.64	27/01/2023 09:59 PM	29/01/2023 09:58 AM
RICHARDS BAY COAL MONTHLY	EF	ICEEC	170.0	170.0	162.9	7.10	27/01/2023 09:08 PM	29/01/2023 09:58 AM
ROTTERDAM COAL MONTHLY	ET	ICEEC	166.5	166.5	166.5	0.10	27/01/2023 09:08 PM	29/01/2023 09:58 AM
Gold	Gold	FX	1,927.7	1,928.0	1,928.0	0.25	28/01/2023 10:46 PM	29/01/2023 09:58 AM
USD RBD PALM OLEIN	POL	MDEX	930.0	930.0	930.0	0.00	27/01/2023 09:07 PM	29/01/2023 09:58 AM
CRUDE OIL – WTI	QCL	NYMEX	80.2	82.5	79.9	-0.85	27/01/2023 10:00 PM	29/01/2023 09:58 AM
SUGAR #11 WORLD	SB	ICEFU	20.9	21.0	20.6	0.23	27/01/2023 10:00 PM	29/01/2023 09:58 AM
Silver	Silver	FX	23.6	23.6	23.6	0.01	28/01/2023 10:46 PM	29/01/2023 09:58 AM