The company’s Sales increased by 133percent in the outgoing year, whereas the loss for the period also increased 182percent in comparison to previous year.
Comparison of Key Financials:
For the Half Year Ended
Key Financials
30th June, 2017
30th June, 2016
% Change
Sales
2,520,039,306.00
1,080,039,303.00
133%
Cost of Sales
2,489,503,975.00
987,454,686.00
152%
Gross Profit
30,535,331.00
92,584,617.00
-67%
Marketing and Distribution Expense
913,043,552.00
565,880,231.00
61%
Administrative Expense
213,367,206.00
99,076,455.00
115%
Loss from Operations
-1,101,208,323.00
-586,313,782.00
88%
Finance Cost
178,299,262.00
62,004,497.00
188%
Loss for the Period
-1,226,911,573.00
-435,139,625.00
182%
Loss per share – basic and diluted
-9.29
-4.91
89%
The Company issued no Cash Dividend, Bonus Shares for the period.
However, it has recommended to issue 300% right shares at the price of Rs. 10/-per share in the proportion of 300 ordinary shares for every 100 Ordinary or 100 Non-Voting Ordinary Shares for the above mentioned period.
The purpose of the issue is Business Expansion/Diversification and Working Capital Requirements
The proceeds from Right Issue will be utilized for expansion of sales and distribution network; increasing media spend for enhanced brand equity, improvement of Raw Milk procurement System, research and development of new products and working capital.
396,305,394 Voting Ordinary Shares (300% of existing paid-up capital of the Company) be offered by the way of right shares to the holders of Voting Ordinary Shares and Non-Voting Ordinary Shares in equal proportion to their respective existing holdings.
