Millat Tractors Ltd. announced Financial Results for the period ended June 30, 2017.
The company’s Net Sales for the period increased by 77.45 percent in the outgoing year, whereas the Profit after Taxation for the Period increased by 143.25 percent.
The board has recommended a Cash Dividend for the year ended June 30, 2017 at the rate of 600% i.e. Rs 60.00/- per share. This is in addition to the interim dividend already paid at Rs. 35/- per share i.e. 350%. The board issued no bonus or right shares.
Comparison of Key Financials
Unconsolidated Profit and Loss Account – For the Year Ended
Key Financials
2017
2016
% Change
Amounts in PKR ‘000
Net Sales
30,013,921
16,913,832
77.45%
Cost of Sales
22,916,592
13,577,972
68.78%
Gross Profit
7,097,329
3,335,860
112.76%
Dist: & Marketing Expenses
536,522
350,155
53.22%
Admin: Expenses
471,550
425,327
10.87%
Other Operating Expenses
454,934
196,521
131.49%
Other Income
610,091
272,249
124.09%
Operating Profit
6,244,414
2,636,106
136.88%
Finance Costs
2,181
15,300
-85.75%
Profit before Taxation
6,242,233
2,620,806
138.18%
Taxation
1,984,700
870,508
127.99%
Profit for the year
4,257,533
1,750,298
143.25%
EPS – Basic & diluted
96.12
39.52
143.22%
Company release on Earnings Report can be accessed here.