August 31, 2021 (MLN): Feroze1888 Mills Limited has revealed its financial statement today for the year ended June 30, 2021, as per which the profitability of the company surged by 47% YoY to clock in at Rs4.31 billion (EPS: 11.44), compared to the net profit of Rs2.94bn (EPS: 7.80) in FY20.
The Board of Directors of the company also recommended a final cash dividend for the year at Rs1.43 per share i.e, 14.3%. This is in addition to interim dividend already paid at Rs2 per share i.e, 20%.
According to the financial results sent to PSX, the sales of the company grew by 36.43% to stand at Rs42.58bn, compared to the same period last year. While the cost of sales recorded at Rs32.51bn in FY21. This takes the gross profit of the company to Rs10.07bn, jumped by 34.27% YoY, against Rs7.5bn during FY20.
On the expense side, the distribution cost of the company augmented by 38% YoY to Rs3.14bn, while, the administrative expenses surged by 10.28% during the review period. On the other hand, the other expense of the company fell down by 7.3% to Rs619.3 million in FY21.
In addition, the company suffered a 61% increase in its finance cost to reach Rs558.32mn during FY21, compared to Rs347mn in FY20.
On the taxation front, the company paid Rs478mn in FY21, showing a 38% increase compared to Rs346.4mn paid in FY20.
|
Profit and Loss Account for the Year Ended June 30th 2021 (Rupees in “000”) |
|||
|---|---|---|---|
|
Jun-21 |
Jun-20 |
% Change |
|
|
Sales |
42,575,465 |
31,205,677 |
36.43% |
|
Cost of Sales |
-32,509,338 |
-23,708,613 |
37.12% |
|
Gross Profit |
10,066,127 |
7,497,064 |
34.27% |
|
Administrative Cost |
-1,258,470 |
-1,141,164 |
10.28% |
|
Distribution cost |
-3,141,547 |
-2,276,372 |
38.01% |
|
Other expenses |
-619,275 |
-667,832 |
-7.27% |
|
(5,019,292) |
(4,085,368) |
22.86% |
|
|
5,046,835 |
3,411,696 |
47.93% |
|
|
Other Income |
300,776 |
218,888 |
37.41% |
|
Operating Profit |
5,347,611 |
3,630,584 |
47.29% |
|
Finance cost |
-558,327 |
-346,959 |
60.92% |
|
Profit before taxation |
4,789,284 |
3,283,625 |
45.85% |
|
Taxation |
(477,993) |
-346,404 |
|
|
Net Profit for the year |
4,311,291 |
2,937,221 |
46.78% |
|
Earnings per share – basic and diluted |
11.44 |
7.80 |
46.67% |
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