The company’s Net Sales for the period increased by 28 percent in the outgoing year, whereas the Profit after Taxation for the Period decreased by 5 percent from the previous year owing to an unprecedented surge in taxes incurred by the company. Taxation costs for the year increased by 430 percent.
The board has recommended an interim Cash Dividend for the year ended June 30, 2017 at the rate of 23.5% i.e. Rs 2.35/- per share.
Comparison of Key Financials
Unconsolidated Profit and Loss Account – For the Six Months Ended
Key Financials
2017
2016
% Change
Amounts in PKR ‘000
Sales – net
3,656,723
2,846,147
28%
Cost of Sales
2,493,694
1,932,303
29%
Gross Profit
1,163,029
913,844
27%
Selling and Distribution Cost
101,031
71,522
41%
Admin Expenses
148,312
114,141
30%
Operating Profit
913,686
728,181
25%
Other Operating Expenses
54,786
51,875
6%
Finance Cost
87,723
124,995
-30%
Other Income
84,129
114,698
-27%
Profit before Taxation
855,306
666,009
28%
Taxation
273,313
51,566
430%
Profit for the year
581,993
614,443
-5%
EPS – Basic and diluted
5.84
6.16
-5%
Company release on Earnings Report can be accessed here.