Earnings Report: Akzo Nobel (PSX: AKZO) today reported Financial Results for the Three and Six months ended June 30, 2017
MG News | August 28, 2017 at 02:51 PM GMT+05:00
Akzo Nobel announced Financial Results for the period ended June 30, 2017.
The company’s Net Sales for the period increased by 11.21 percent in the outgoing year, whereas the Profit after Taxation for the Period increased by 14 percent.
The board did not recommend any interim Cash Dividend, bonus or right shares.
Comparison of Key Financials
| Unconsolidated Profit and Loss Account - For the Six Months Ended | |||
| Key Financials | Jan - June, 2017 | Jan - Jun, 2016 | % Change |
| Amounts in PKR ‘000 | |||
| Turnover | 4,404,144 | 3,947,568 | 11.57% |
| Sales tax, excise duty and discounts | 1,476,832 | 1,315,230 | 12.29% |
| Net Sales | 2,927,312 | 2,632,338 | 11.21% |
| Cost of Sales | 1,757,229 | 1,496,093 | 17.45% |
| Gross Profit | 1,170,083 | 1,136,245 | 2.98% |
| Selling & Dist: Expenses | 577,099 | 598,704 | -3.61% |
| Admin and General Expenses | 163,794 | 160,287 | 2.19% |
| Operating Results | 429,190 | 377,254 | 13.77% |
| Finance cost | 640 | 3,580 | -82.12% |
| Other charges | 34,632 | 31,837 | 8.78% |
| Other income | 58,902 | 84,410 | -30.22% |
| Profit before taxation | 452,820 | 426,247 | 6.23% |
| Taxation | 157,673 | 167,241 | -5.72% |
| Profit after taxation | 295,147 | 259,006 | 13.95% |
| EPS - Basic & diluted | 6.36 | 5.58 | 13.98% |
Company release on Earnings Report can be accessed here.
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