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HomeEquityEarnings Report: Amreli Steel (PSX: ASL) today reported Financial Results for the...

Earnings Report: Amreli Steel (PSX: ASL) today reported Financial Results for the twelve months ended June 30, 2017

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.

Posted on: 2017-08-28T12:10:00+05:00
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