ENGRO enjoys a 28% increase in yearly profits

08:30
February 21, 2020
MG

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%

Copyright Mettis Link News

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

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47	XAG	23.00020	23.00980	23.00980	23.00020	08:52 AM
2,120	VES	35.51280	35.60190	35.60186	35.51280	07:00 PM
2,212	UGX	3,731.38000	3,814.92000	3,814.91623	3,731.37792	12:32 AM
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