February 20, 2019 (MLN): Engro Corporation has declared annual net gains worth Rs.23.6 billion for the year ended December 2018, marking a rise of 45% over last year (Rs.16.3 billion), with its EPS at Rs.24.26.
Going by the financial statement issued by the company to the Pakistan Stock Exchange (PSX), the credit for this remarkable improvement goes to higher sales this year (Rs.171.6 billion) which increased by 33.4%, while cost of sales (Rs.120.5 billion) expanded by a smaller margin of Rs.28.4%.
As a result, the gross profits saw an upsurge of 46.8% over the year. While expenses otherwise elevated during the period, the sales growth was enough to cover for the negative impact brought along.
ENGRO has also announced a Final Cash Dividend at Rs.2 per share, that is, 20% in addition to Interim Dividend already pair at Rs.19 per share (90%).
The Board of Directors have also recommended to issue Bonus Share in the proportion of 10 share for every 100 shares held, that is 10%. The said Bonus Shares shall not be eligible for the dividend declared for the aforesaid period.
Consolidated Financial Results for the Year Ended Dec 31st 2018 ('000 Rupees)
Cost of Sales
Selling and distribution expenses
Other operating expenses
Share of income from joint ventures & associates
Profit before taxation
Profit after taxation
Earnings per share – basic and diluted (Rupees)
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