Gillette Pakistan's quarterly profits restored

MG News | October 24, 2018 at 09:44 AM GMT+05:00

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October 23, 2018 (MLN): Gillette Pakistan Limited (GLPL)‘s profit during the first three months of current fiscal year has been recorded at Rs.685 thousand while during the same period last year, the company had made a loss of Rs.42 million.

Gillette’s official financial statement for the period shows that the appreciable improvement transpired as a result of well managed expenses which were reduced considerably during the quarter.

In particular, the selling, marketing and distribution expenses were reduced by Rs.53 million and had the greatest impact on lowered outflow.

Moreover, the company’s basic and diluted earnings per share for the quarter have been recorded at Rs.0.04 per share whereas a loss of Rs.2.19 per share was recorded for the same quarter last year.

Financial Results for the quarter ended September 30th 2018 ('000 Rupees)
	Sep-18	Sep-17	% Change
Sales - net	354,169	464,248	-23.71%
Cost of goods sold	(249,997)	(350,751)	-28.73%
Gross profit	104,172	113,497	-8.22%
Selling, marketing and distribution expenses	(57,947)	(111,188)	-47.88%
Administrative expenses	(18,233)	(11,600)	57.18%
Other operating expenses	(2,065)	(13,600)	-84.82%
Interest expenses	(5,866)	-
Bank charges	(16)	(215)	-92.56%
	(84,127)	(136,603)	-38.41%
Other income	607	1,152	-47.31%
(Loss)/profit before tax	20,652	(21,954)
Income tax expense	(19,967)	(20,063)	-0.48%
Profit/(Loss) after tax	685	(42,017)
Loss per share - basic and diluted (Rupees)	0.04	2.19	-98.17%

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