Earnings Report: Pakistan Synthetics Ltd. (PSX: PSYL) today reported Financial Results for the Twelve months ended June 30, 2017

MG News | September 21, 2017 at 12:54 PM GMT+05:00

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Pakistan Synthetics Ltd. announced Financial Results for the period ended June 30, 2017.

The company’s Net Sales for the period increased by 75.29 percent in the outgoing year, whereas the Profit after Taxation for the Period decreased by 58 percent.

The board has not recommended any Cash Dividend for the year ended June 30, 2017. 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	2,911,967	1,661,248	75.29%
Cost of Sales	2,642,741	1,206,571	119.03%
Gross Profit	269,226	454,677	-40.79%
Dist: & Selling Costs	63,004	54,331	15.96%
Admin: & General Expenses	43,365	33,597	29.07%
Other Expenses	12,159	30,868	-60.61%
Other Income	9,289	142	6441.55%
Finance Cost	142,986	114,335	25.06%
Profit before Taxation	17,001	221,688	-92.33%
Taxation	66,502	20,070	231.35%
PAT from Continuing Operations	83,503	201,618	-58.58%
Loss from Dis-continued Operations	(44,845)	(110,112)	-59.27%
Profit for the Year	38,658	91,506	-57.75%
EPS - Basic & Diluted	0.69	1.63	-57.67%

Company release on Earnings Report can be accessed here.

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