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.