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

FOREX

EQUITY

COMMODITIES

FOREX

PairID	Symbol	Bid	Ask	High	Low	Update
1	PKR	278.50000	278.70000	278.70000	278.50000	03:08 PM
2	EUR	1.07230	1.07236	1.07236	1.07230	11:15 PM
3	GBP	1.25020	1.25040	1.25040	1.25020	11:15 PM
4	CHF	0.91300	0.91312	0.91312	0.91300	11:15 PM
5	JPY	155.54000	155.55000	155.55000	155.54000	11:15 PM
6	CAD	1.36570	1.36585	1.36585	1.36570	11:15 PM
7	AUD	0.65230	0.65270	0.65270	0.65230	11:15 PM
8	INR	83.29240	83.29290	83.29290	83.29240	11:15 PM
9	SAR	3.75050	3.75070	3.75070	3.75050	08:15 AM
10	AED	3.67280	3.67310	3.67310	3.67280	08:15 AM
11	HKD	7.82953	7.82990	7.82990	7.82953	11:15 PM
12	CNH	7.25971	7.26013	7.26013	7.25971	11:15 PM
13	CNY	7.23930	7.24050	7.24050	7.23930	11:15 PM
14	THB	36.99600	37.02200	37.02200	36.99600	11:15 PM
15	MYR	4.77550	4.78050	4.78050	4.77550	11:06 PM
16	IDR	16,216.80000	16,222.90000	16,222.90000	16,216.80000	11:15 PM
17	SGD	1.35960	1.36060	1.36060	1.35960	11:15 PM
18	NZD	0.59601	0.59610	0.59610	0.59601	11:15 PM
19	MXN	17.20170	17.23170	17.23170	17.20170	11:15 PM
20	TRY	32.53170	32.54170	32.54170	32.53170	11:15 PM
21	SEK	10.88010	10.88910	10.88910	10.88010	11:15 PM
22	ZAR	19.01370	19.04370	19.04370	19.01370	11:15 PM
23	NOK	10.96280	10.97600	10.97597	10.96277	11:15 PM
24	DKK	6.95400	6.95500	6.95500	6.95400	11:15 PM
25	ARS	873.72900	873.73900	873.73870	873.72870	11:15 PM
26	BDT	108.04100	111.39600	111.39646	108.04059	09:00 PM
27	BHD	0.37697	0.37701	0.37701	0.37697	03:42 AM
28	BRL	5.15870	5.16170	5.16170	5.15870	11:13 PM
29	KRW	1,376.03000	1,376.26000	1,376.26000	1,376.03000	11:15 PM
30	KWD	0.30744	0.30804	0.30804	0.30744	08:15 AM
31	LKR	293.66700	300.19200	300.19250	293.66718	09:00 PM
32	OMR	0.38497	0.38500	0.38500	0.38497	03:41 AM
33	QAR	3.64600	3.64900	3.64900	3.64600	08:13 AM
34	RUB	92.27000	92.29000	92.29000	92.27000	08:00 PM
35	AFN	71.18150	73.04590	73.04591	71.18154	09:00 PM
36	AZN	1.70000	1.70000	1.70000	1.70000	06:20 AM
37	TMT	3.35000	3.65000	3.65000	3.35000	08:00 PM
38	MVR	15.26000	15.66000	15.66000	15.26000	08:00 PM
39	UZS	12,654.50000	12,719.70000	12,719.70506	12,654.45190	09:00 PM
40	PHP	57.82100	57.84600	57.84500	57.82400	11:15 PM
42	NGN	1,279.52000	1,280.52000	1,280.52000	1,279.52000	08:24 PM
43	KES	134.00000	136.00000	136.00000	134.00000	08:24 PM
44	AMD	361.96900	417.90000	417.89987	361.96859	09:00 PM
45	TWD	32.54500	32.55000	32.55000	32.54500	11:15 PM
46	XAU	2,333.26000	2,333.57000	2,333.57000	2,333.26000	11:14 PM
47	XAG	27.41940	27.42980	27.42980	27.41940	11:14 PM
48	XPT	918.15000	927.65000	927.65000	918.15000	08:15 AM
49	XPD	988.64000	994.29000	993.95000	988.67000	08:14 AM
2,120	VES	36.33200	36.42320	36.42315	36.33204	08:00 PM
2,212	UGX	3,766.97000	3,850.87000	3,850.86857	3,766.97165	09:00 PM
2,213	TZS	2,589.99000	2,590.01000	2,590.01500	2,589.98500	08:24 PM

Data is delayed by 20 minutes

EQUITY

Name	High	Current	Low	Change	% Change	Volume	Value	DateTime
KSE100	72,593.25	71,971.401	71,700.54	-80.491	-0.112	424,080,014.0	16,729,754,250.360	25/04/2024 04:13 PM
ALLSHR	47,464.49	47,174.954	47,022.84	2.137	0.005	798,226,277.0	27,520,277,864.490	25/04/2024 04:13 PM
KSE30	23,911.80	23,749.046	23,630.38	-58.772	-0.247	100,632,233.0	10,911,348,299.790	25/04/2024 04:13 PM
KMI30	122,036.66	120,902.956	120,348.15	-259.501	-0.214	165,495,684.0	10,488,159,680.390	25/04/2024 04:13 PM
KMIALLSHR	33,911.61	33,699.441	33,542.23	42.921	0.128	560,837,784.0	22,833,398,111.890	25/04/2024 04:13 PM
BKTi	17,958.27	17,872.359	17,710.29	-16.250	-0.091	19,765,810.0	2,463,980,003.790	25/04/2024 04:13 PM
OGTi	17,084.78	17,031.061	16,828.32	74.488	0.439	14,111,722.0	2,057,880,884.130	25/04/2024 04:13 PM

Data is delayed by 20 minutes

COMMODITIES

Name	Symbol	Last	High	Low	Change
BITCOIN FUTURES	BTC	64,985.0	65,390.0	64,510.0	285.00
BRENT CRUDE	EB	89.3	89.5	89.2	0.31
RICHARDS BAY COAL MONTHLY	EF	105.5	0.0	0.0	-0.70
ROTTERDAM COAL MONTHLY	ET	118.5	118.5	118.3	0.30
USD RBD PALM OLEIN	POL	860.0	860.0	860.0	0.00
CRUDE OIL – WTI	QCL	83.9	84.0	83.7	0.28
SUGAR #11 WORLD	SB	19.1	19.7	19.0	-0.65

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