Earnings Report: Avanceon Ltd. (PSX: AVN) today reported Financial Results for the Three and Six months ended June 30, 2017
MG News | August 25, 2017 at 11:39 AM GMT+05:00
Avanceon Ltd. announced Financial Results for the period ended June 30, 2017.
The company’s Sales for the period increased by 20.78percent in the outgoing year, whereas the Profit after Taxation for the Period increased by 40 percent.
The board did not recommend any interim Cash Dividend, any 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 | Common Size 2017 |
| Amounts in PKR ‘000 |
| |||
| Sales | 383,241 | 317,313 | 20.78% | 100% |
| Cost of Sales | 241,568 | 168,064 | 43.74% | 63% |
| Gross Profit/(Loss) | 168,673 | 149,249 | 13.01% | 44% |
| Admin: and Selling Expenses | 79,582 | 61,821 | 28.73% | 21% |
| Other Operating Expenses | 2,047 | 3,072 | -33.37% | 1% |
| Other Operating Income | 91,281 | 83,218 | 9.69% | 24% |
| Profit/(Loss) from operations | 178,324 | 167,574 | 6.42% | 47% |
| Finance costs | 11,486 | 7,960 | 44.30% | 3% |
| Profit/(loss) before Tax | 166,838 | 159,614 | 4.53% | 44% |
| Taxation | 15,008 | 17,451 | -14.00% | 4% |
| Profit/(loss) for the period from operations | 151,830 | 142,163 | 6.80% | 40% |
| EPS - Basic | 1.15 | 1.08 | 6.48% |
|
| EPS - Diluted | 1.10 | 1.03 | 6.80% |
|
Company release on Earnings Report can be accessed here.
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