Earnings Report: Amreli Steel (PSX: ASL) today reported Financial Results for the twelve months ended June 30, 2017
By MG News | August 28, 2017 at 12:10 PM GMT+05:00
Amreli Steels announced Financial Results for the period ended June 30, 2017.
The company’s Sales for the period increased by 7.13 percent in the outgoing year, whereas the Profit after Taxation for the Period decreased by 16.01 percent.
The board has recommended a final Cash Dividend for the year ended June 30, 2017 at the rate of 20% i.e. Rs 2.00/- per share. The board issued no bonus or right shares.
Comparison of Key Financials
| Unconsolidated Profit and Loss Account - For the Twelve Months Ended | |||
| Key Financials | 2017 | 2016 | % Change |
| Amounts in PKR ‘000 | |||
| Sales | 13,283,811,229 | 12,400,191,349 | 7.13% |
| Cost of Sales | 10,815,624,056 | 9,608,236,222 | 12.57% |
| Gross Profit | 2,468,187,173 | 2,791,955,127 | -11.60% |
| Dist: Costs | 337,266,551 | 341,325,913 | -1.19% |
| Admin: Costs | 324,830,812 | 216,283,236 | 50.19% |
| Other Expenses | 116,550,926 | 165,014,968 | -29.37% |
| Other Income | 7,357,725 | 15,398,750 | -52.22% |
| Operating Profit | 1,696,896,609 | 2,084,729,760 | -18.60% |
| Finance Costs | 251,583,475 | 335,534,389 | -25.02% |
| Profit before taxation | 1,445,313,134 | 1,749,195,371 | -17.37% |
| Taxation | 371,260,430 | 470,446,343 | -21.08% |
| Net profit for the year | 1,074,052,704 | 1,278,749,028 | -16.01% |
| EPS - Basic & diluted | 3.62 | 4.81 | -24.74% |
Company release on Earnings Report can be accessed here.
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