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.
