ENGRO enjoys a 28% increase in yearly profits

February 21, 2020 (MLN): Engro Corporation Limited (ENGRO) has declared net profits of Rs. 30.2 billion (EPS: Rs. 28.69) for the year ended December 31, 2019, which is nearly 28.17% lower than the figures reported last year.

The company also announced a Final Cash Dividend for the year at Rs. 1 per share i.e. 10%. This is in addition to Interim Dividends already paid at Rs. 23 per share i.e. 230%.

The topline earnings of the company saw a growth of 31.6% owing to the benefits emanating from the Thar energy projects.

Furthermore, a rise in the profitability of Engro Fertilizers and Engro Powergen, combined with a reduction in the losses of FrieslandCampine Engro Pakistan, provided further impetus to the company’s net earnings.

Financial Results for the Year Ended December 31, 2019 ('000 Rupees)

 

Dec-19

Dec-18

% Change

Revenue

225,919,576

171,568,238

31.68%

Cost of Sales

(157,233,488)

(120,459,766)

30.53%

Gross Profit

68,686,088

51,108,472

34.39%

Selling and distribution expenses

(8,103,286)

(8,488,256)

-4.54%

Administrative expenses

(6,156,325)

(4,497,302)

36.89%

Other income

13,663,434

9,147,368

49.37%

Other operating expenses

(8,477,620)

(5,518,656)

53.62%

Operating profit

59,612,291

41,751,626

42.78%

Finance cost

(14,750,272)

(5,453,221)

170.49%

Share of income from joint ventures & associates

1,147,999

128,647

792.36%

Profit before taxation

46,010,018

36,427,052

26.31%

Taxation

(15,721,927)

(12,795,319)

22.87%

Profit after taxation

30,288,091

23,631,733

28.17%

Earnings per share – basic and diluted (Rupees)

28.69

22.06

30.05%

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Posted on: 2020-02-21T13:30:00+05:00

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