Gillette Pakistan's quarterly profits restored

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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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