Feroze Mills’ Yearly profits rise by 10.5% : Earnings Reports

05:10
August 6, 2018
MG

Feroze1888 Mills Limited issued their financial earnings for the year ending on June 30^th 2018 on August 6^th 2018. The report was finalized in a Board of Directors meeting held by the company on August 4^th 2018.

According to the report, as compared to the year ending on June 30^th 2017, FML’s Sales increased by 4%, but since the Cost of Sales increased by a greater margin of 5.5%, this lead to 1% drop in Gross Profits, during the year.

The company’s Administrative Costs increased by 19.8%, yet the Operating profits went up by 15.4%.

Finance Cost took a leap of 55%.

Overall Profit for the year increased by 10.5%, while Earnings per share were reported to have reached Rs.7.3 per share from Rs.6.61 per share, demonstrating a rise of 10.4%.

Profit and Loss Account for the Year Ended June 30th 2018 (Rupees)
	Jun-18	Jun-17	% Change
Sales	21,775,447	20,937,331	4.00%
Cost of Sales	(16,949,752)	(16,063,005)	5.52%
Gross Profit	4,825,695	4,874,326	-1.00%
Administrative Cost	(948,936)	(792,082)	19.80%
Distributions cost	(1,493,151)	(1,421,045)	5.07%
Other income/(expenses) – net	506,334	(156,605)
	(1,935,753)	(2,369,732)	-18.31%
Operating Profit	2,889,942	2,504,594	15.39%
Finance cost	(85,730)	(55,039)	55.76%
Profit before taxation	2,804,212	2,449,555	14.48%
Taxation	(52,085)	39,977
Net Profit for the year	2,752,127	2,489,532	10.55%
Earnings per share – basic and diluted	7.30	6.61	10.44%

Posted on: 2018-08-06T10:10:00+05:00

22497

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